12 April 2006
SHETLAND DEVELOPMENT TRUST BACKS COPE
At a recent meeting of Shetland Development Trustees, a number of projects were given backing, including disbursing £210,000 of surpluses earned on local investments to COPE Ltd. The total value to the social enterprise company will be £350,000 when they re-claim the tax already paid by the Trust on the earnings.
Commenting on the award, chairman of Shetland Development Trust, Josie Simpson, said: “Trustees recognise the important role that COPE plays in both Shetland’s economy and wider community. Not only does COPE provide tremendous employment and development opportunities, it also contributes significantly to the infrastructure of Shetland with its range of retail services.”
Welcoming the funding, general manager of COPE, Frank Millsopp, said: “COPE’s mission is to help change perceptions about disability and to recognise the valuable contribution people with disabilities can make to the local economy. The commitment of support by Shetland Development Trust will not only enable COPE to maintain the current level of activities but also go towards making provisions for the growing number of people requiring additional training and support opportunities in future years.
“This financial support, together with a shared vision, will give us all the confidence at COPE to continue developing the company as a vibrant community enterprise.”
Also at the meeting, a loan for the purchase of whitefish quota was also agreed in respect of Gordon Irvine and Partners of MFV Defiant for £68,000. This decision follows recent approvals for quota purchases of £64,000 to the Arcturus Fishing Company Ltd and £124,000 to the Alison Kay Quota Company Ltd. As quota prices continue to rise, the economic benefits to the Shetland whitefish sector of owning quota, as opposed to leasing, is significant.
The tourism industry also benefited from sponsorship of £10,000 for VisitShetland to promote and sponsor the 2006 Shetland Bergen Sailing Race. The Race is now an integral part of the Johnsmas Foy and Flavour of Shetland events creating a significant draw for visitors from Norway and further afield with resulting economic benefits to Shetland.
Trustees also agreed an interim loan of £45,000 to the Unst Partnership for the setting up of the Pure Energy Centre and a £60,000 short-term bridging loan for working capital to recycling company, 60° North Ltd.