Invest in Moray

Key Competitive Attractions

Situated in north-east Scotland, with a coastline on the Moray Firth, Moray is one of the 32 Scottish council areas, and one of the 11 areas supported by Highlands and Islands Enterprise.

Moray is the 8th largest Scottish council area, covering 2,238 sq km, and has a population of approximately 88,000. The administrative and economic centre of Moray is Elgin, but activity is distributed among several vibrant market towns including Forres, Keith and Buckie, as well as the coastal villages of Findhorn, Lossiemouth and Burghead.

Moray is rich in natural resources, which has attracted clusters of companies and their supply chains in sectors such as life sciences, renewable energy, forestry & wood products, and food & drink.

Moray boasts a high standard of education, access to some of Scotland’s largest economic centres, seaports and airports; affordable housing, low crime rates and unique opportunities in marine renewable energy and life sciences, all combining to make Moray an attractive location for business and leisure (see Quality of Life).

Key Sectors:

Life Sciences
Food & Drink Production
Textiles & Clothing
Renewable Energy
Wood Products
Metals and Metallurgical Industry
Tourism
Creative Industries
Renewable Energy

Moray’s business environment is friendly and operational costs are comparatively lower than the rest of Scotland and the UK.

Invest in Moray - major projects already underway:

Assistance and Support For New Business Investors

Highlands and Islands Enterprise, which works in close collaboration with the private, public and voluntary sector in Moray, is the Scottish Government's economic and community development agency for the north and west of Scotland. The organisation delivers goals set by the Government Economic Strategy (GES). For more information about their directive, please read the Scottish Government Strategic Guidance.

HIE operates from 13 offices across the Highlands and Islands to provide comprehensive and personalised support to local communities, of which one serves Moray.

Priorities of Highlands and Islands Enterprise:

Strengthening communities and fragile areas
Helping businesses and social enterprises adapt and realise their growth objectives
Developing key sectors and distinct regional opportunities
Creating the conditions for a competitive and low-carbon region

HIE also collaborates with Moray Economic Partnership (MEP) to create a sustainable, diversified economy in Moray. The partnership works together to provide the infrastructure and economic conditions to make the Moray area a more competitive and attractive place to live, work, and play.

The Partnership integrates decision makers from:

For more information about HIE’s support, see their locations4business profile.

Existing Business Base

Clusters have developed in tourism, forestry & wood products, textiles, and metals, in which Moray has larger-than-average shares of global markets.

The county also has strengths in food & drink production, renewable energy, outsourcing, defence and life sciences. A variety of innovative companies undertake pioneering work in Moray, including Forsyths Engineering, the Roof Truss Company, and Vertex.

The traditional energy sector has equipped the local workforce with transferable skills that will serve the evolving renewable energy sector. Moray businesses demonstrate the ability to adapt to changes in the market, with Buckie Shipyard diversifying into the renewables industry by constructing wind farm service vessels.

RAF bases at Lossiemouth and Kinloss are major contributors to the local economy, providing £158m in gross income to the Moray economy in 2010, according to a report by HIE. See Defence in Business Sectors for more information about the armed forces in Moray. The public sector (including the RAF, the local authority and a major hospital) plays a significant role in the Moray economy, employing 34% of the working population.

Many of Moray’s industries have expanded in recent years due to increased trade with international markets. As a result, many Moray firms have an international outlook.

Key figures:

1/3 of jobs are Moray are accounted for by public administration, education and health
Manufacturing accounts for a larger proportion of jobs than in the Highlands and Islands average
A large percentage of the workforce is employed by companies employing more than 50 people, where as the number of start ups is relatively low compared to the Highlands and Islands average.
Between 2005 and 2008, house prices increased by a greater amount in Moray (+39%) than in the Highlands and Islands (+35%) and Scotland (+32%).
Improved communications and broadband have enabled more people to working remotely, diversifying the economy of the Highlands and Islands.

For more information about the economic base of Moray, visit HIE’s Moray page.