Following on from the recent Business Council private sector stakeholder event on the North Wales Growth Deal, the development process for the Growth Deal is now close to reaching the Heads of Terms negotiation stage.
It is only when the Heads of Terms (in-principle agreement on the basic outline of the deal, broad financials and main projects) have been agreed by UK & Welsh Governments, that the Growth Deal can progress to the ‘live‘ stage and the development and submission of very detailed businesses cases for each project. Drawdown of funding follows when these business cases are approved.
The key document for the negotiation and agreement of the Heads of Terms stage, is the proposition/summary document which will be submitted to both national governments by our region. The proposition document which builds on the work completed across the region over the last 18 months, is currently in draft form and is set to be finalised in the coming weeks.
This document brings together the rationale for investment in the region, the Vision and Aims, the Strategic Programmes and the portfolio of Projects, and the funding and economic case for investment. It also sets out the “asks” in terms of new powers and responsibilities, and highlights the governance arrangements in place to deliver the Growth Vision for the region (of which the Growth Deal will support in the delivery of).
The aim is that the proposition documents in draft form (see attached above) and will pull together a consensus view from amongst Business Council members, Partners and key businesses that will be submitted to the executive body responsible for the Growth Deal ((the North Wales Economic Ambition Board (NWEAB) previously known as the North Wales Growth Board)), as well as both UK and Welsh Governments. The Business Council has 2 seats on the NWEAB and therefore a strong voice on the Board.
The attached document should reflect a continuation (from previous correspondence/interaction and stakeholder sessions) of the developing Growth Deal as you may already be aware of it, however Business Council members, Partner organisations and key businesses are being asked to give feedback on the document :
Please note if you are picking this up in the WTA Newsletter, as opposed to the WTA site, timelines are tight, so please can any feedback (in line with the above bullet points) be sent to Ashley Roger - email@example.com by the 10th of July.