North Wales Growth Deal Approved
25 January 2021
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With all the bad news we have had to endure in Wales during the pandemic it was fantastic to hear some good news for the North Wales region. The announcement of the North Wales Growth Deal just before Christmas 2020 represents a significant investment aimed at securing the economic future and ambitions of North Wales..
The North Wales Economic Ambition Board has announced that the region’s economy has been given a £1bn boost with the North Wales Growth Deal now signed and agreed by Welsh and UK Governments along with members of the North Wales Economic Ambition Board
The North Wales Economic Ambition Board – is a collaboration of the region’s six councils, two universities, two colleges and private sector representatives – the deal is made up of 14 projects covering low carbon energy, innovation in high-value manufacturing, agri-food and tourism, digital connectivity and land and property.
The governments have worked closely with stakeholders throughout the process and had earlier committed £240m - £120m each – to help bring the Deal to fruition.
Their main objectives are to create up to 4,200 new jobs by 2036, support an uplift of £2bn-2.4bn for the economy over that same period, and deliver total investment of up to £1.1bn.
Among the first projects to get underway in 2021 is the £35m Morlais renewable energy scheme off the coast of Anglesey.
Meanwhile, there has been significant North Wales-wide investment in digital connectivity, with key sites – including GP surgeries, hospitals, and libraries – benefiting from ultrafast broadband thanks to the Department for Digital, Culture, Media and Sport (DCMS) Local Full Fibre Network (LFFN) Programme, in partnership with the Ambition Board and Portfolio Office.
Praising the progress made, Secretary of State for Wales Simon Hart said: “It's fantastic see an exciting and transformative economic deal being delivered across North Wales.
“We want to build back better from the pandemic and bring jobs and investment to our communities, which is why UK Government has already committed £120m to this project.
“The North Wales Growth Deal is an incredible opportunity for the region and for the wider Welsh economy. Working hand in hand with local government and business, we will ensure it unleashes the full potential of North Wales.”
Minister for Economy and North Wales Ken Skates added: “I'm pleased to be able to sign the final Deal agreement giving the green light for the North Wales Growth Deal, which has the potential to transform the region's economy.
“We cannot underestimate the challenges facing the economy today as result of the Covid-19 pandemic. The Growth Deal will be a key part of the region's recovery over the next months and years.
Read more here.
This story is adapted from a Business Wales article, with editorial changes made by the METaL Project.
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