Economy Minister Ken Skates and Parliamentary Under-Secretary of State for Wales, Lord Bourne have been in Mid Wales to hear about the progress in developing the Mid Wales Growth Deal.
Combining the high-level meeting with visits to 2 successful local businesses, Zip Clip Ltd and Invertek Drives Ltd at the Offa’s Dyke Business Park in Welshpool, the Economy Minister and Lord Bourne met with Leaders of the Growing Mid Wales partnership to hear of the progress being made by the region in developing a Mid Wales growth deal.
The minister and Lord Bourne met with the regions newly formed Economy Strategy Board, set up by the region to ensure that the private sector has a key role in development of a Growth Deal for Mid-Wales.
Economy Minister Ken Skates said:
I’m pleased progress has been made with regards defining a vision and that strategic objectives and governance arrangements are now well underway.
This pace needs to be maintained so emerging proposals can be firmed up in more detail.
Private sector involvement in the deal, in the shaping of proposals – is critical to the success of any future Mid Wales Growth Deal.
Proposals for the Growth Deal need to be ambitious and involve the private sector in their development. They need to demonstrate additionality and must not be about “more of the same”.
We will continue to work closely and constructively with the Growing Mid Wales Partnership, regional stakeholders, and UK Government to explore how a Growth Deal might benefit the mid Wales region. Welsh Government officials are working closely with the Partnership on this.
Deals offer the opportunity to unlock additional Treasury funding to support interventions that can deliver economic growth.
But they should not be seen as simply project funding vehicles. They are critical tools in providing a framework allowing regions to drive a new way of collaborative working, setting priorities as a single voice and delivering key functions at a strategic level.