Latest projects for North Wales Growth Deal funding announced
Members of the North Wales Ambition Board supported a recommendation to invite five new projects to join the Growth Deal portfolio. Subject to agreement of certain conditions, each project will now go on to develop an outline business case.
The new projects included in the latest round have been awarded a provisional allocation of Growth Deal capital funding subject to the approval of their business case. The projects are:
- Responsible Adventure project by Zip World - £6.2m
- Kinmel Studios project by Stage Fifty - £6.8m
- Holyhead Hydrogen Hub project by Menter Môn - £3.8m
- Deeside Waste to Fuel Plant project by The Circular Economy Ltd - £6.4m
- Wrexham Gateway project by Wrexham County Borough Council - £4.79m
Each organisation will agree a memorandum of understanding which will set out the expectations of them in relation to securing the funding.
Cllr Dyfrig Siencyn, Chair of the North Wales Ambition Board said: “We are pleased to support the recommendation that these five exciting new projects can proceed to the next phase in order to secure Growth Deal funding. They are transformational projects which have the potential to be significant additions to the North Wales economy and to generate additional investment and employment opportunites in key sectors. They reflect our vision for innovative and sustainable economic prosperity through collaboration between public and private sectors."
Alwen Williams, Portfolio Director added: “Today’s decision is a significant step forward as we allocate Growth Deal funding to these innovative new projects. I look forward to working with each organisation as they develop their outline business cases and I am keen to see the positive impact they can have on our communities and economy.”
Welsh Secretary David TC Davies said: “It’s brilliant to see new projects with so much great potential reach the next phase of funding. The UK Government has contributed £120m to the North Wales Growth Deal and I’m delighted to see this money, along with contributions from our partners, being used to help transform the economy of North Wales. This transformation will provide well-paid jobs for the future, driving growth and prosperity and making a material difference to so many people who live and work in north Wales.”
Economy Minister Vaughan Gething said: “I’m pleased to see five new projects become part of the North Wales Growth Deal. These exciting projects have the potential to be transformational for the region, contributing towards employment, skills and will be a boost for local communities. I look forward to seeing them develop with the support of the Growth Deal.”
The five projects announced will now work with Ambition North Wales to develop an outline business cases for consideration. Today’s decision is seen as the first step in a process which could see these projects become reality. Each project has 12 months to deliver their plans.