If you invested £383 million in something, and got £1.3 billion back, that would be a pretty good return. Wouldn’t it?
Well, that’s the exciting ‘deal’ put forward by North Wales to the UK and Welsh governments at the end of 2017.
If you missed the story, or want to know exactly what’s in the Growth Deal for North Wales, you can download the document from this website.
What’s it all about?
The document explains how – with the right investment – the region can develop its economy.
It focuses on three key objectives.
- Creating a smart economy that encourages innovation in high-value industries.
- Developing a resilient economy by creating job opportunities, helping North Wales retain a skilled workforce.
- Creating a connected economy, with strong road and rail links with the North West and the rest of the UK, as well as high-quality digital infrastructure.
It says an injection of £383.4 million could help attract £1.3 billion of investment into North Wales – a return of the £3.40 for every pound spent. As well as over 5,000 new jobs, new businesses and new housing.
The document contains lots of evidence, figures and projections, but it’s only 30 pages long and easy to read.
So what happens next?
The North Wales Growth Board – the partnership behind the proposals – has submitted the document to the UK and Welsh governments, and will now start negotiations to try and secure the investment needed to turn its vision into reality.
The partnership includes all six councils in North Wales, as well as the region’s universities, colleges and the private sector.
Keep tabs on this website for news and info about the Growth Deal.