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Wick Development Trust was set up in 2019 by a group of local business people as a community trust in the form of a not-for-profit private limited company for Wick town centre. In 2021 Wick Development Trust became a registered charity under the Office of the Scottish Charity Regulator, registration number SC051307. The long-term strategy of the Trust is to support and enable the regeneration of Wick town centre and to stimulate economic recovery and growth in the town by making Wick a town where current and future businesses can thrive and expand, which will help to lower unemployment and reduce poverty in the area. The Trust also aims to take on business opportunities that will enable it to be sustainable so that all profits can be reinvested back into the town in the form of urban regeneration community projects.