18 February 2008
SHETLAND DEVELOPMENT TRUST BACKS FUNDING FOR NAFC MARINE CENTRE
Shetland Development Trust is pleased to confirm that following this afternoon’s Trust meeting; Trustees’ have agreed to provide funding for the NAFC Marine Centre for the next financial year.
This decision approves the disbursement of £528,000 of surplus funds towards the core funding of the NAFC Marine Centre in 2008/9. As a surplus investment, this allows the NAFC Marine Centre to claim £880,000 towards their operating costs over 2008-2009.
NAFC Marine Centre provides core services to the largest income generating industry in Shetland, the seafood sector and its associated support services, which was recently valued as providing £225 million towards the local economy.
The Core services provided by the NAFC Marine Centre include:
- Training and Education through the Centre and its School of Nautical Studies and Shetland Fisheries Training Association Ltd
- Research and Development, including management of a research hatchery and broodstock facility
- Quality control for the industry through activities led by the Shetland Seafood Quality Control Ltd.
- Management of the Shetland Islands Council works licensing operations
The NAFC Marine Centre currently attracts 50 students on its Merchant Navy Cadet programme and this is one of over 65 courses that are available at the NAFC Marine Centre which also has the facilities to provide student accommodation at Port Arthur House.
Peter Dryburgh, Director of the NAFC Marine Centre said” I am pleased to have secured funding from the Shetland Development Trust for the coming financial year and look forward to continuing to deliver our vital services in education, training, research and development, and advice for our local industry”.
Josie Simpson, Chair of Shetland Development Trust said” The NAFC Marine Centre provides a vital role for the local industry and ensures Shetland has access to exceptional training at home. The Centre is also a major partner within the “Successful and Sustainable” Shetland seafood plan and access to research and technical expertise within the field is also a key component towards making sure we build a sustainable industry for Shetland”.
Notes to Editor
Surplus Distributions
The Trust generates surpluses from interest and dividends earned on loan and equity investments, less operating costs. These surpluses are taxed at the appropriate rate for Trusts. The Trust is able to unconditionally gift available surpluses to deserving bodies. If the body is an organisation with charitable status, then that organisation can reclaim a tax credit, which is currently 40%.
NAFC Marine Centre
The Vision of the NAFC Marine Centre is to be a Centre of Marine Excellence, providing high quality resources for training, research, services and advice to support and enhance the development and sustainability for the nautical, fisheries, engineering, aquaculture and food industries.