A new report commissioned by Highlands and Islands Enterprise (HIE) has revealed that 251 planned development projects across the region could unlock up to £100 billion in investment, creating thousands of jobs and positioning the Highlands and Islands at the forefront of Scotland’s green economic transformation.
“For the first time, this report quantifies 251 planned development projects, representing up to £100.35 billion in investment. These projects have the potential to be truly transformational for our region and for Scotland as a whole,” Cllr Raymond Bremner, chair of HIREP, stated as the findings were published today [12 May 2025].
The report highlights a surge in renewable energy projects, including offshore wind, green hydrogen, marine energy, and pumped storage hydro, which together could outstrip the economic impact of the historic North Sea oil sector. HIE estimates the investment could bring around 16,000 jobs at the peak of construction and development, and 18,000 operational jobs by the early 2030s.
The projects span from Shetland to Argyll, and the Outer Hebrides to Moray, with a strong focus on harnessing natural capital and driving growth across energy, life sciences, creative industries, tourism, food and drink, and space.
HIE’s five-year strategy, guided by the National Strategy for Economic Transformation, is built around four pillars: People, Place, Planet, and Prosperity. The agency emphasises the need for bold and ambitious action, intelligent risk-taking, and strong collaboration across public bodies and government.
David Oxley, Director of Strategic Projects at HIE, commented:
“Given the abundant natural resources in Scotland and in particular in the Highlands and Islands; the renewable energy sector, with the right support, has the potential to be transformational for our region, and the wider UK.”
The report also identifies key barriers that must be overcome at pace, including the need for improved infrastructure, housing, and skills development to support the influx of workers and the sustainability of new industries. HIE stresses that partnership, innovation, and international collaboration will be critical in realising the full potential of these projects.
Deputy First Minister Kate Forbes said:
“The Scottish Government’s Programme for Government 2025 puts a clear focus on attracting investment as a key driver to creating jobs and growing our regional and national economies.
“The skills, talent and natural resources running across the Highlands and Islands are well known but this report sets out the true scale of the opportunities that lie ahead.
“The challenge now is to capitalise on this promise. I look forward to working alongside our public and private sector partners to deliver on this enormous potential, creating thousands of top-quality jobs for future generations.”
Membership of the HIREP includes local authorities, Highlands and Islands Enterprise, Skills Development Scotland, Scottish Funding Council, UHI, NatureScot, VisitScotland, Bòrd na Gàidhlig, HITRANS, Cairngorms National Park Authority, the Crofting Commission, business representatives and third sector organisations.
- Read the full report at hie.co.uk/research-and-reports/our-reports/2025/may/08/rtoresearch/
