£671m North Wales Growth Deal decision awaited
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A planned new nuclear power plant at site of former Trawsfynydd could unlock extra investment
A deal aimed at creating almost 5,500 jobs in north Wales could be at an end if it does not get the backing of the UK government in this month's Budget.
That is according to the body driving the £671m bid, the North Wales Economic Ambition Board (NWEAB).
The UK government said "more work needs to be done" on the North Wales Growth Deal but it "remains committed".
The NWEAB and employers' group, North Wales Mersey Dee Business Council, said they were "confident" about the Budget.
The North Wales Growth Deal would bring £671m of investment to the region.
Half of it would come jointly from the UK and Welsh governments, with £219m from organisations such as universities and colleges.
Businesses are being expected to put in £109m upfront as part of the agreement.
However, it is argued that the private sector would invest £3.1bn in the long-term as a direct result of the growth deal.
The majority of that would come from the development of a new small nuclear plant at Trawsfynydd in Gwynedd, if that energy project was given the go ahead.
The growth deal is aimed at improving what the region has to offer in a number of areas, including land and property, energy, skills, transport and adventure tourism as well as digital connectivity and technology.
Property shortages across north Wales have led to concerns that businesses are being held back from growing and creating more jobs.
Apra Ames Roberts (left): 'We have a lot of people who depend on us to get this right'
Alternative premises needed
Crazy Ladies Costumes in Wrexham is owned by Apra Ames Roberts and Diane Hughes and has been trading since 2003.
It sells its goods all over the world but its building is about to be demolished and it is struggling to find suitable alternative premises for its 18 staff.
"It's so hard and I am getting so despairing," Ms Roberts said.
"We have a very viable business. We have a lot of people who depend on us to get this right."
She added there needed to be more properties built and better business support to allow small companies like hers to continue to grow.
A total of £124m from the public and private sector would be spent on improving the availability of land and property as part of the Growth Deal.
Dyfrig Siencyn, deputy chairman of the North Wales Economic Ambition Board, suggested it would be a huge problem if the deal did not get UK government backing in the Budget.
"They want it to succeed. They've worked with us for the last 12 months and more in challenging the projects we have here. We've had real hard challenges from them," he said.
"By this point, we're confident that we have a range of projects that are suitable for north Wales and that they have a strong basis and support from the private sector.
"And from our recent discussions with the ministers there is no indication of any negativity at this time."
Dyfrig Siencyn: 'From our recent discussions with the ministers there is no indication of any negativity'
A UK government spokesperson said: "It is clear that leaders across the region have re-energised their determination to make a strong case for investment in key sectors.
"A proposal underwritten by local expertise and real-world knowledge is exactly what will take the North Wales Growth Deal to the next stage.
"While more work needs to be done, we are continuing to work with the innovators and shapers throughout the region, to support them in making this deal a success and deliver better outcomes for north Wales."
The North Wales Economic Ambition Board expects 5,408 jobs to be directly created as a result of the growth deal.
- Published18 June 2018
- Published10 May 2018
