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North Wales Makes £1.38bn Growth Bid

by Jamie Adrankone

North Wales Makes £1.38bn Growth Bid

Northern Wales business could be set for a boost following a meeting of the six area councils, educators and business groups in preparation for the North Wales Growth bid.

The meeting covered plans to create more than 5,000 jobs and drive investment in the local economy with £383.4 million in cash from governments and £1 billion from the private sector, the Daily Post reports.

Under the plans, a number of projects would receive funding, including £20 million to kick-start private investment at industrial estates in Bangor, Flintshire, Bodelwyddan and in Bryn Cegin. Another £42 million would be used to expand the industrial estate and technology park in Wrexham, the aerospace centre in Llanbedr and a number of other projects, the publication reports.

Wrexham MP Ian Lucas told the newspaper that the authorities had worked together to come up with a bid that has a good chance of success.

“We’ve not had our fair deal in this area in terms of infrastructure investment in the past. I think one of the reasons for that is we have not come together to make the case in the way that we have now. I think our case is so strong that I think it’s irresistible,” he commented.

The growth plans are being submitted to the Treasury, with funding likely to be split between Westminster and Cardiff Bay, should the plans be approved. The UK government would give local authorities the ability to borrow money on which they would be liable for low interest repayments over a 15-year period, WalesOnline reports.

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