Contact us

Your Name (required)

Your Email (required)

Your Message

Whisky funding announced for five Scottish distilleries

Category: Scottish Investment — Mark on June 30, 2013

The Scottish Government is to direct over £5 million in funding to five whisky distilleries in the country.

The funding is part of a £9 million marketing and investment treasure chest for 25 firms in the food and drinks trade.

The biggest amount, of £1.8 million, is going to help with the building of a new Ardnamurchan peninsula distillery. That cash is earmarked for the Adelphi Distillery.

The firm’s chairman, Keith Falconer, was delighted with the news. The cash will promote sustainable whisky production well into the future, as the company boss said:

“This will represent a new, greener direction for Scotch whisky production, combining minimum environmental impact and maximum sustainable efficiency to create the very highest quality Scottish product.”

There will also be significant investment into a further new distillery at Ballindalloch in Aberdeenshire. That will get over £1.25 million of funding.

Announcing the cash awards, Rural Affairs Secretary Richard Lochhead said:

“The growth and success of the Scottish drinks industry is continuing and this funding will benefit several companies across Scotland.”

Many companies in the whisky industry have also been investing in themselves as export trade continues to remain strong. Many have achieved this through invoice discounting and invoice factoring facilities.

It has helped boost the number of jobs in the local areas too, with Lochead going on to say the Holyrood funding will create 40 new jobs in the sector.

The five grants were announced at Royal Highland Show on Friday June 21, with firms in Falkirk, Angus and Fife also benefiting.

'Disclaimer: The information contained in these articles is of a general nature and no assurance of accuracy can be given. It is not a substitute for specific professional advice in your own circumstances. No action should be taken without consulting the detailed legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a consequence of the material can be accepted by the authors or the firm.

No Comments »

No comments yet.

RSS feed for comments on this post. TrackBack URL

Leave a comment

IFS Guide
IFS Presentation
NACFB - Helping Fund UK Businesses  Federation of Small Business