The Spaceport.

**The Horseman** · 20-Aug-20, 02:15

I have been following this, and find that the Financing is coming from all directions.
Perhaps someone can ‘fathom out’ what the Deal is... Perhaps Bill Fernie?

**orkneycadian** · 20-Aug-20, 14:36

Is he an astronaut?

**The Horseman** · 21-Aug-20, 00:43

Originally Posted by orkneycadian

Is he an astronaut?

He has been involved in many Community Projects etc., etc., over the years... If anyone would know how this ‘Project’ is going to go, it is him!
Just interested in how much The Public Purse is donating...again!

**Bill Fernie** · 21-Aug-20, 10:19

I published an item on 16 July 2018 that showed indicative funding -
The UK Space Agency (UKSA) has announced £2.5m grant funding to support a project led by regional development agency Highlands and Islands Enterprise (HIE) that aims to create the UK's first spaceport and support around 400 jobs.

Today HIE has confirmed a major funding package for the project totaling £17.3m, including the £2.5m from UKSA and £9.8m from HIE which has been approved in principle by the HIE Board, subject to conditions. While details of the package are still to be confirmed, the enterprise agency expects to attract further contributions from partners that will offset its share of the overall cost.

Read the full article at https://caithness-business.co.uk/article/8492

Over time these initial costs will always end to rise for a variety of reasons.

Government projects of all kinds come with many associated risks and often it is necessary to take greater risks than private industry would countenance as there are no guarantees for profits in the first years. HIE has the remit to try and create jobs and will take risk that may be criticised if it were purely private sector. If the risk for investors were very small then it would not require public investment.

It is good to see something that is very different to try and move to new types of employment.

At some stage in the future assuming it is successful then there comes the choice to keep it within the public sector or more likely float it out for more private investment.

**The Horseman** · 22-Aug-20, 17:51

Originally Posted by Bill Fernie

I published an item on 16 July 2018 that showed indicative funding -
The UK Space Agency (UKSA) has announced £2.5m grant funding to support a project led by regional development agency Highlands and Islands Enterprise (HIE) that aims to create the UK's first spaceport and support around 400 jobs.

Today HIE has confirmed a major funding package for the project totaling £17.3m, including the £2.5m from UKSA and £9.8m from HIE which has been approved in principle by the HIE Board, subject to conditions. While details of the package are still to be confirmed, the enterprise agency expects to attract further contributions from partners that will offset its share of the overall cost.

Read the full article at https://caithness-business.co.uk/article/8492

Over time these initial costs will always end to rise for a variety of reasons.

Government projects of all kinds come with many associated risks and often it is necessary to take greater risks than private industry would countenance as there are no guarantees for profits in the first years. HIE has the remit to try and create jobs and will take risk that may be criticised if it were purely private sector. If the risk for investors were very small then it would not require public investment.

It is good to see something that is very different to try and move to new types of employment.

At some stage in the future assuming it is successful then there comes the choice to keep it within the public sector or more likely float it out for more private investment.

TY for now....