A MULTI-MILLION pound growth bid has been set out by the north Wales councils, including Gwynedd, which is expected to bring thousands of jobs to the region.

The six north Wales councils have formally submitted a Growth Bid to the UK and Welsh Governments.

The councils have formed a new body, the ‘North Wales Growth Board’, to finalise the growth deal and manage its delivery once agreed with the two Governments.

The new body is a Local Authority Joint Committee with representatives of key partners: the North Wales and Mersey Dee Business Council, universities and further education colleges.

The proposals would enable investment of £1.3billion in the north Wales economy from growth deal monies of £328m capital and £55.4m revenue, totalling £383.4m, a return of £3.40 for every pound spent.

Over 5,000 jobs will be created.

Other outcomes are being estimated and will include the creation of new businesses, housing units built, including affordable housing and placing workless households into work.

The funds for the Growth Bid, if approved, will be provided jointly by the UK and Welsh Governments.

Cllr Dyfrig Siencyn, vice chair of the Growth Board and Gwynedd Council leader, said: “The Growth Bid is only one part of our Growth Vision.

“We will continue to press for improved transport links outside of the Growth Bid. We will campaign for the Department of Transport to fund improved rail infrastructure and the Welsh Government to fund improved rail services.

“We will work with the Welsh Government to deliver a North Wales Metro and an improved road network.

“Our proposals will also sit alongside UK and Welsh Government programmes to improve digital and wireless connectivity in the region.

“The Growth Bid taken together with support from governments to improve transport and digital connectivity will drive economic growth, ensure a fair distribution of benefits across the region and help retain young people in the region.

“There is a lot of hard work and tough negotiations ahead of us before we can finalise a growth deal with the two governments.

“The work we have done so far through the Bid Process has given us momentum, unity and a determination to succeed.”