Major Anglesey Employment Scheme Backed by North Wales Growth Deal Funding
The ambitious Freeport Gateway project on Anglesey has received a significant boost with a £3.48 million funding commitment from the North Wales Growth Deal. This major employment initiative, which has now had its business case approved, aims to transform a former industrial site into a hub for job creation and economic growth.
Project Details and Economic Impact
With a total project value of £19.1 million, the Freeport Gateway scheme will deliver 72,000 square feet of new employment floorspace. This development is projected to support the creation of 233 jobs and generate a substantial economic impact of £65.4 million by the year 2036. The project represents a strategic investment in the region's future prosperity.
Comprehensive Funding Package
In addition to the growth deal backing, the project has secured £4 million from the Anglesey Freeport Seed Capital Fund, which receives support from both the UK and Welsh Governments. The remaining funding will be provided by a developer selected to build the scheme at the former Eastman Peboc chemical factory site. This location, which closed in 2008 with the loss of 60 jobs, is now poised for revitalization.
The approval of this funding strengthens the position of project sponsor Isle of Anglesey County Council to acquire the site. The council plans to expand and improve access to the adjacent Tregarnedd Industrial Park, creating a more integrated employment zone.
Strategic Importance and Regional Benefits
Jason McLellan, lead member for Ambition North Wales's land and property programme and leader of Denbighshire County Council, emphasized the project's significance. "These proposals would bring this site back into use, delivering real benefits for Llangefni and the wider region," he stated. "With growth deal support, this former industrial site can be revitalized to create good-quality jobs. By improving infrastructure, adopting sustainable design, and aligning with Freeport plans, the project will strengthen the local economy and reinforce Anglesey as a location for business and innovation."
Gary Pritchard, leader of Isle of Anglesey County Council, highlighted the strategic importance of the development. "This project is of strategic importance to Ynys Môn. It supports both UK and Welsh Government Growth Deal objectives of promoting inward investment and using our Freeport status to increase demand for industrial development," he explained. "Bringing the former Peboc site back into use and expanding Tregarnedd Industrial Park will create high-quality employment opportunities and strengthen our position as we look to strengthen the island's economy."
Government Support and Broader Context
The Freeport Gateway site forms part of the North Wales Growth Deal's land property programme. This comprehensive £1.1 billion deal is overseen by statutory body Ambition North Wales on behalf of the region's six local authorities. The growth deal aims to deliver £1 billion of investment into the regional economy, with £240 million committed by the Welsh and UK governments. Additionally, the deal's projects are seeking to secure co-investment of £721 million from the private sector and £179 million from the public sector.
Cabinet Secretary for Economy, Energy and Planning, Rebecca Evans, commented on the Welsh Government's involvement. "This project will restore an important industrial site for use, delivering significant economic value for the region and its residents," she said. "With £120 million in backing from the Welsh Government, the North Wales Growth Deal is delivering a transformation of the North Wales economy."
Wales Office Minister Anna McMorrin added her perspective on the UK Government's contribution. "Progress on delivering this vital project is great news for Anglesey. Bringing this site back into use for development will create new jobs and encourage investment, benefitting local people as we help grow the local economy," she noted. "Investment from the UK Government via the North Wales Growth deal and Anglesey Freeport is helping unlock the potential of Anglesey, putting more money into the pockets of local people."
Looking ahead, the broader Freeport Gateway project could see Isle of Anglesey Council constructing additional employment units on the adjacent Tregarnedd Industrial Park. This expansion would further enhance the area's capacity for business development and job creation, solidifying Anglesey's position as a key economic player in North Wales.
