The North Wales Economic Ambition Board (NWEAB) is a partnership comprising of the 6 Local Authorities in the region, along with Bangor University, Glyndwr University, Coleg Cambria and Grŵp Llandrillo Menai. The Board was established in 2012 by the partners to develop a regional approach to economic growth and to addressing the challenges and barriers facing the North Wales economy. In 2016 the Board adopted A Growth Vision for the Economy of North Wales.
The adopted Vision is to develop “a confident, cohesive region with sustainable economic growth, capitalising on the success of high value economic sectors and our connection to the economies of the Northern Powerhouse & Ireland.” The Growth Vision was founded on three key principles:
- Smart North Wales – with a focus on innovation and high value economic sectors to advance economic performance.
- Resilient North Wales – with a focus on retaining young people, increasing employment levels and skills to achieve inclusive growth.
- Connected North Wales – with a focus on improving transport and digital infrastructure to enhance strategic connectivity to and within the region.
During 2017-2019, the Board, working collaboratively with Welsh Government, UK Government and representatives of the private sector developed the North Wales Growth Deal based on a set of transformational projects, securing Heads of Terms with both governments in November 2019. The UK and Welsh Government are committed to contributing a £120million each to the North Wales Growth Deal.
The North Wales Growth Deal presents an unique opportunity to increase jobs and growth in the region with a package of innovative and transformative programmes and projects that are inter-related and co-dependant. The Growth Deal Programmes in the region that have been identified to overcome the barriers currently faced by the private sector for investment in the region are:
- Digital Programme
- Low Carbon Energy Programme
- Land and Property Programme
- Innovation in High Value Manufacturing Programme
- Agrifood and Tourism Programme
The Growth Deal projects will contribute to the overall economic impact:
- To create between 3,000 and 5,000 new jobs in North Wales through the Growth Deal.
- To support a GVA uplift of between 4-6% for the North Wales Economy through the Growth Deal.
- To deliver a total investment of between £800million and £1.1billion in the North Wales Economy through the Growth Deal.