Wrexham council leader welcomes support for new investment zone in north east Wales

The leader of Wrexham Council has welcomed the backing of Wales’ economy minister for the creation of a new business investment zone in north east Wales.

Earlier this year the UK Government announced plans to establish 12 new zones, which it claims will “help to drive economic growth that will be transformational for towns and cities across the country by creating jobs, delivering new homes and spreading opportunity.”

Each Investment Zone receives £80 million in funding to be used over five years for innovation, infrastructure and skills and training projects in the sectors being targeted.

They could also benefit from tax incentives over the next 10 years, such as reliefs on business rates, stamp duty land tax and employer national insurance contribution. ‌​‌‌​​​‌‍‌​‌​‌‌‌​‍‌​‌​‌‌​​‍‌​​‌‌‌‌​‍‌​​​​‌‌​‍‌​‌​‌​‌‌‍‌​​‌​‌‌‌‍‌​​‌‌​‌​‍‌​​​​‌‌​‍‌​‌‌‌‌‌​‍‌​​​‌‌​‌‍‌​​‌‌​‌​‍‌​‌​‌​‌‌‍‌​​‌​‌‌‌‍‌​​‌​‌‌​‍‌​​‌‌​‌​‍‌​​​‌​​‌‍‌​​‌‌​‌​‍‌​​​‌‌​​

Investment Zones are open to all, however the government “will set a high bar for establishing them, honing in on areas where they will have the greatest impact on growth and housing supply.”

A collaborative bid between Wrexham and Flintshire Councils – along with politicians and major stakeholders in the two counties – is underway to establish an Investment Zone for north east Wales.

Last week Vaughan Gething MS called on the UK Government’s support for the creation of a new Investment Zone in northeast Wales

Economy Minister Vaughan Gething

Speaking last week Mr Gething, said: ““Based on the analysis of opportunities for growth our view is that there is a case for two Investment Zones in Wales, one in south east Wales, and one in north east Wales covering Flintshire and Wrexham. ‌​‌‌​​​‌‍‌​‌​‌‌‌​‍‌​‌​‌‌​​‍‌​​‌‌‌‌​‍‌​​​​‌‌​‍‌​‌​‌​‌‌‍‌​​‌​‌‌‌‍‌​​‌‌​‌​‍‌​​​​‌‌​‍‌​‌‌‌‌‌​‍‌​​​‌‌​‌‍‌​​‌‌​‌​‍‌​‌​‌​‌‌‍‌​​‌​‌‌‌‍‌​​‌​‌‌​‍‌​​‌‌​‌​‍‌​​​‌​​‌‍‌​​‌‌​‌​‍‌​​​‌‌​​

“Each would reflect the specific strength and existing customers in each region which amongst others includes compound semiconductors in southeast Wales and high value advanced manufacturing in northeast Wales. ‌​‌‌​​​‌‍‌​‌​‌‌‌​‍‌​‌​‌‌​​‍‌​​‌‌‌‌​‍‌​​​​‌‌​‍‌​‌​‌​‌‌‍‌​​‌​‌‌‌‍‌​​‌‌​‌​‍‌​​​​‌‌​‍‌​‌‌‌‌‌​‍‌​​​‌‌​‌‍‌​​‌‌​‌​‍‌​‌​‌​‌‌‍‌​​‌​‌‌‌‍‌​​‌​‌‌​‍‌​​‌‌​‌​‍‌​​​‌​​‌‍‌​​‌‌​‌​‍‌​​​‌‌​​

“The UK government will now need to decide whether to commit to this investment in Wales.”

Mr Gething’s comments have been welcomed by Councillor Mark Pritchard, leader of Wrexham Council, who said there is “huge potential” for growth in north east Wales.

“I’m pleased that Welsh Government is supporting the call for an investment zone in Wrexham and Flintshire,” said Cllr Pritchard.

“The area has huge potential and is home to talented entrepreneurs and innovative companies who are helping to drive this forward.

“I’d like to thank Ashley Rogers at the North Wales Business Council and Joanna Swash at Moneypenny, as well as JCB, Airbus, Networld Sports, AMRC Cymru, Theatre Clwyd, Wrexham University and all the other organisations and individuals who are helping to make a really strong case for an investment zone in North East Wales.

“I’d also like to thank Flintshire County Council for working with us on this important initiative.

“Wrexham is riding the crest of a wave at the moment thanks to an increased global profile, and an investment zone will help generate even more interest and business investment into the area.”