18 February 2008
SHETLAND DEVELOPMENT TRUST PRESENTS ITS BI-ANNUAL REPORT
The Shetland Development Trust presented its bi-annual report today at this afternoon’s Trust meeting detailing the activities of the Trust between July and December 2007. Key investments have included commercial financing to establish a new fishing partnership and whitefish quota purchase for use within the Shetland Fishermen Producers Organisation, community quota pool. Investments such as these are critical towards ensuring Shetland maintains access to the fishing resources over the long-term. In supporting the aims of sustainable and value-added fishing, the Trust and leading partners also launched the “Successful and Sustainable” action plan and strategy for Shetland seafood last September.
Included the smaller businesses whom the Trust have been able to assist, are Global Yell Ltd who received a loan of £11,000, to further their business development with the Creative Industries Centre in Yell. Within the Trust’s ongoing commitments, COPE Ltd (Community Opportunities for Participation in Enterprise Ltd) has received core funding from the Trust’s surplus funds.
The Trust has also established four industry panels for the major areas within the Shetland economy. (Agriculture, Fisheries, Tourism and Culture and General Industry) These panels are a vital way to ensure the Trust are fully engaged with industry, bringing together representatives to establish the key priorities and recommend the best use of resources for the sustainable growth of the economy.
Chairman of the Shetland Development Trust, Josie Simpson commented, “Over the last year, we have invested significantly in businesses within the fishing and aquaculture sectors of the economy. A vital part of our recent investments has been in quota, for the shared community quota pool that will make the Shetland significant financial returns and is a secured asset for the longevity of the industry. In terms of serving our clients, we have established key industry panels to communicate and work with industry towards the common goal of sustainable growth for Shetland. The Trust is also co-working with Shetland Islands Council Economic Development Unit and HIE Shetland and as part of the Scottish Government objectives our services will evolve in the near future to ensure that we create a central location for our clients to receive advice, information and guidance for taking forward their business within Shetland. The Trust continues to aim for sustainable economic growth for the community and looks forward to working with all the agencies to deliver for Shetland in the future.”
To view the bi-annual report, please visit www.sdt.shetland.org.