The Nuclear Decommissioning Authority (NDA) said it will provide 'substantial funding' to help the harbour attract new jobs to the area.
It has pledged up to £250,000 for the first project in the Harbour's planned upgrade, aimed at attracting business from the proposed offshore wind developments in the Moray Firth.
The Highlands and Islands Enterprise (HIE) is also to provide up to £200,000.
The money has been set aside for the installation of heavy lift facilities at the port's commercial quay and the dredging of the entry channel to the quay.
The Harbour Authority has also been successful in securing private funding for this phase of work.
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Anna MacConnell, the NDA's Stakeholder and Socio-economic Manager, said: "Wick Harbour Authority is an example of community-led economic development at its best. The role of the public sector, to support and encourage sustainable economic growth, is made so much easier when working with a Board as adaptable and innovative as Wick Harbour Authority. The NDA is pleased to continue our long association with Wick Harbour Authority."
Wick Harbour Authority Chairman Willie Watt added: "We are extremely happy with the support received from HIE and the NDA on these two vitally important projects. Since 2005 the Board at Wick Harbour have consistently worked towards achieving commercial sustainability for the Harbour in the long term. The support and confidence that HIE and NDA have shown is testament to the long term vision we have planned.
"Our stepping stone approach has created new opportunities and confidence around the port and we look forward to developing the Harbour in response to the potential that will come from the two major offshore wind projects just off our shores. The number of jobs that could be realised will be in excess of 300 and this is just one part of our portfolio that will bring new opportunities to Caithness and North Sutherland."
(JP/MH)
