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Home News News items £1.5 million EU investment to boost North Wales enterprise unit

£1.5 million EU investment to boost North Wales enterprise unit

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£1.5 million EU investment to boost North Wales enterprise unit

A new commercial site near the A55 in Conwy, North Wales is to benefit from £1.5 million EU funds.

The new development at Penmaen Road, Conwy will be built on 2.4 hectares of land owned by Conwy County Borough Council, who will match fund the project.

Conwy Morfa enterprise park, Parc Cae’r Seion is ideally placed in easy reach of the A55 commuter corridor. There is a demand locally for medium and large industrial units of over 1000 square metres, which are in short supply in Conwy. Once the first 4 premises are occupied, remaining units will be constructed to cater to the requirements of interested businesses. The development is expected to create up to 150 new jobs.

Counsel General and Brexit Minister Jeremy Miles, who is responsible for EU funding in Wales, said: "Welsh Government is committed to making Wales a more prosperous and secure place to live and work. North Wales is a priority growth area, so this investment in the Conwy region is very welcome. This is another great example of a project benefitting from EU funds to support partner organisations through transition, and to future-proof the regional economy.

Cllr Goronwy Edwards, Cabinet Member for Economic Development, Conwy County Borough Council, said: "This is excellent news, we intend to spend the grant on infrastructure work across the whole site and to build 4 initial units.
Penmaen Road is within an identified employment growth area - there’s significant demand in the energy and environment, food, construction and creative sectors, so we’ll be focusing on these uses, and looking to complement the businesses based at the neighbouring Parc Cae’r Seion site."

In the last decade, EU-funded projects in Wales have created more than 48,000 jobs and 13,000 new businesses, while helping 86,000 people back into work.

Posted on 21/08/2019

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