Deeside has the “skills, expertise and drive” to make a new research institute a success, it has been claimed.
Carl Sargeant, Assembly Member for Alyn and Deeside, has heralded news that a new Advanced Manufacturing Research Institute in Deeside could boost Welsh Gross Value Added (GVA) by as much as £4bn over 20 years.
In November, Economy Secretary Ken Skates announced £20m funding from the Welsh Government for the first phase of the institute to support a £10m investment from project partners.
The new institute will have a strong focus on advanced manufacturing sectors including aerospace, automotive, nuclear and food.
It will deliver support to key manufacturing companies as well as multi-sector supply chain companies and the broader SMEs economy, and is geared to increase productivity, commercialisation, innovation and skills development.
Mr Sargeant said: “Deeside is already an economic hub with a large amount of highly-skilled jobs within manufacturing.
“This institute will build on that and take the area to the next level, and I’m delighted at the forecast of how much it will add to Wales’ GVA.
“I know the advisory board has worked very hard on developing the business case for the institute and I’d like to thank them for that.
“Locally we have the skills, expertise and drive to make the institute a success and further strengthen the area’s economy.”
The new institute is expected to act as a catalyst for growth and jobs across the supply chain in Deeside and the Northern Powerhouse.
External experts have predicted that, dependant on external economic conditions, GVA could be transformational to the economy of North Wales and the whole country.
The institute has been developed by the Deeside Enterprise Zone Advisory Board, with detailed input from Swansea University, Sheffield University Advanced Manufacturing Research Centre, Airbus and Coleg Cambria in conjunction with SMEs and large companies.