Following an initial piece of work that identified a need to develop additional employment sites across the region, further work has been completed to scope a proposed Growth Deal Sites and Premises Programme.
Growing Mid Wales is now looking to develop a business case for this investment, implementing sustainable development projects that will help meet the identified local market demand for employment premises.
A programme board has already been established to oversee the development and delivery of the Programme, and dedicated Growth Deal resources are in place to drive this forward. Over the coming months real estate advisers, Savills, will be working with the team to consider the planning, economic and development viability of a shortlist of strategic employment sites, the next important step towards formulating a deliverable Programme.
Nick Bennett, Head of Savills Economics team, based in Cardiff, said: 'We are delighted to be appointed to support this exciting new partnership, which has the potential to transform the regional economy. Our multi-disciplinary team is committed to ensuring the strategic site offer for Mid Wales is as good as it can be, helping to unlock jobs growth and stem youth depopulation."
The Mid Wales Growth Deal, set within the broader Vision for Growing Mid Wales, is a long-term investment, with a combined commitment of £110m from UK and Welsh Governments, providing capital funding to support regionally significant economic infrastructure. This funding will be a catalyst to leverage wider investment from the private sector to stimulate growth across the region over the next 10 to 15 years.
Growing Mid Wales Board Chairs, Councillor Bryan Davies, Leader of Ceredigion County Council and Councillor James Gibson-Watt, Leader of Powys County Council, jointly said: "Growing Mid Wales continues to build upon work carried out so far with the Sites and Premises programme to promote and implement key developments across the region."
Welsh Government is supporting the programme directly with revenue funding for this particular work to progress site identification and development.
The Chairs continued: "We look forward to working with both Savills and the Welsh Government in realising and unlocking development opportunities, responding positively to market demand and stimulating wider investment and interest for the region."
Welsh Government Economy Minister Vaughan Gething added: "I am pleased this important area of work is now underway, with support from the Welsh Government enabling our regional partners to enlist technical expertise to develop a detailed programme of property-related interventions.
"We recognise the provision of a portfolio of sites and premises across Mid Wales is a pre-requisite for both home-grown and inward investing businesses, and a critical enabler for economic growth. The Welsh Government remains committed to working alongside both local authorities and the private sector to meet growing demand, and support the development of a suite of key employment sites and the provision of new and sustainable commercial property which promotes a more equal, prosperous and greener Wales."