Shetland Economy is on the Mend: Shetland Spaceport and other Projects are Underway

23rd Jun 2021
Shetland Economy is on the Mend: Shetland Spaceport and other Projects are Underway

The pandemic hit many parts of Scotland hard, including the communities near the proposed Shetland Spaceport. However, plans by HIE (Highlands and Island Enterprise) to support the local economic recovery and growth are underway.

So far, local businesses have received funds to the tune of 4.6 million pounds from HIE. These funds will help them tackle the effects of the pandemic and Brexit. Many island communities suffered due to the pandemic, but now there’s an indication of overheating.

Still, HIE has reiterated its commitment to the Scottish Spaceport project underway in the area. It’s pledged 10 million pounds for the proposed spaceport in Sutherland to emphasize this support while engaging with local businesses online. The HIE development board is currently tackling the many needs and concerns of people and businesses struggling with the consequences of 2020.

This is according to the area manager, Katrina Wiseman. She noted that the area’s economy was hit hard due to its location.

That’s why her team was working thoroughly to ensure all schemes from the government assist those in need. Though her team is working from home, it remains dedicated to the plans.

Local Business and Communities near the Future Shetland Spaceport Need Support

Evidence of the need for assistance continues to arise in 2021. It required HIE to work fast and be flexible to meet them. So far, the PERF (Pivotal Enterprise Resilience Fund) and other government schemes have assisted over 150 businesses.

However, there’s evidence of the economy getting better after a tough 15 months. The only concern now is overheating as the economy recovers. Other issues are cropping up, like the availability and cost of materials and any semi or skilled staff around.

Signs are rife that the future Shetland Spaceport and Knab redevelopment at Staney Hill, among other projects, will happen simultaneously.

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