Who will secure the £380m Growth Deal and create thousands of new jobs?

WHAT IS A GROWTH DEAL?

Originating from within a region, a Growth Bid is a formal proposal for government investment and the conferment of devolved powers that results in a Growth Deal if successful.

Alongside financing by the UK and Welsh governments, regions are expected to invest in their own strategies through capital funding, sharing in capital borrowing, making land and assets available, and seeking private sector support and engagement.

North Wales was invited to develop a Growth Bid by the UK Government in 2016, and this commitment was restated recently by both the UK and Welsh governments.

THE NORTH WALES GROWTH DEAL

It would create thousands of jobs, boost the economy, improve transport and communication links, focus on renewable energy, support tourism and more.

The proposals would enable investment of £1.3bn in the economy from Growth Deal monies totalling more than £380m.

This is the first time the Welsh and UK governments and north Wales stakeholders have come together as one entity with the aim of developing the region’s economy and infrastructure.

The Bid covers the unitary authorities of Anglesey, Conwy, Denbighshire, Flintshire, Gwynedd and Wrexham.

WHAT WILL THE MONEY BE SPENT ON?

The Bid consists of 26 projects under eight programmes.

These are land and property development; smart access to energy; smart technology and innovation hubs; a regional growth business fund; pathways to skills and employment; skills centres of excellence; digital connectivity; and strategic transport.

Not all of the projects will form the Growth Deal. Those that don’t become part of the Deal will fall under the wider Growth Vision for for the Economy of North Wales, dependent on funding and government priorities.

Initial projects include a plan to support the development of a strategic mixed-use site at Bodelwyddan; primary infrastructure, to include new road access and on-site access, electricity drainage and other services at Warren Hall, Broughton; the Small Modular Nuclear Reactor Programme at Trawsfynydd; the Morlais