The board of a body set up to oversee the investment of the £1bn North Wales Growth Deal has appointed an interim chair. Leader of Wrexham Council, Mark Pritchard, has taken up the role with Ambition North Wales.
The North Wales Growth Deal is being financially backed with £240m from the Ƶ and Welsh governments. Its projects are forecast to leverage in a further £730m in private sector investment. The two governments have also agreed additional support in the form of two new non-executive directors and a senior investment specialist to be recruited to speed up delivery of funds to projects on the ground.
The projected £1bn total investment is expected to generate 4,000 new jobs and an additional for the economy of North Wales, covering six local authority areas, of £2.4bn in GVA (gross value added).
The fund will invest in high growth sectors like agri-food and tourism, manufacturing and low carbon energy projects, as well as investing to break barriers to economic growth such as digital connectivity.
Wales Office Minister Nia Griffith said: "Economic growth is our number one priority and the sky’s the limit for our ambition in north Wales.“The Growth Deal offers millions in vital investment, driving growth and jobs.
“With fresh leadership and more support, our two governments have provided the tools needed to get on with delivering investment where it’s most needed.”
Welsh Government Cabinet Secretary for Economy, Energy and Planning, Rebecca Evans, said:“Through this transformational North Wales Growth Deal, we are committed to working with partners to build on strengths in sectors like manufacturing whilst future proofing key industries like tourism. The result will be more jobs and better-quality opportunities, an enhanced skills base and greater prosperity for residents across the area.
“We are already seeing the Welsh Government’s £120m backing for the deal starting to deliver, with projects such as the Enterprise Engineering and Optics Centre (EEOC) project in Wrexham under construction and soon providing a specialist centre which brings together research and development, business collaboration and skills through advances in optics, photonics and composites as lightweight alternatives for manufacturing.”
Mr Pritchard said:“ The North Wales Growth Deal is the foundation of economic co-operation between the six North Wales councils, the Welsh and Ƶ Governments.
“It is essential to sustainable economic growth in North Wales and links to wider strategic co-operation and the delivery of initiatives like the proposed Flintshire and Wrexham investment zone and Anglesey freeport.
“The six North Wales leaders (local authority) welcome the support of governments and will work together with the Welsh and Ƶ governments, business leaders and officers of the Ambition North Wales programme office to accelerate the delivery of the North Wales Growth Deal.
“The North Wales Council leaders will own and lead the changes necessary to get the North Wales Growth Deal moving. This is a new era of action and delivery for the deal Investment, construction, jobs and growth are coming soon.”
