The Freeport Gateway scheme would provide 72,000 sq ft of new employment space
The Freeport Gateway project will expand and improve access to the Tregarnedd Industrial Park.
Plans for a major employment scheme at the Anglesey Freeport has secured a funding commitment of £3.48m from the North Wales Growth Deal after approval of its business case.
The £19.1m Freeport Gateway project would see will 72,000 sq ft of new employment floorspace that could support 233 jobs with a claimed economic impact of £65.4m by 2036.
As well as growth deal backing, the project has also secured £4m from the Anglesey Freeport Seed Capital Fund from UK and Welsh Government. The balance of the funding will be financed by a developer chosen to build the scheme at the former Eastman Peboc chemical factory site which closed in 2008 with the loss of 60 jobs.
Approval of the project means that project sponsor, Isle of Anglesey County Council is in a stronger position to acquire the site, where it plans to expand and improve access to the Tregarnedd Industrial Park.
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The Freeport Gateway site is part of the North Wales Growth Deal’s land property programme. The £1.1bn deal is overseen by statutory body Ambition North Wales on behalf of the region’s six local authorities.
Jason McLellan, lead member for Ambition North Wales’s land and property programme, and leader of Denbighshire County Council, said: “These proposals would bring this site back into use, delivering real benefits for Llangefni and the wider region. With growth deal support, this former industrial site can be revitalised to create good-quality jobs. By improving infrastructure, adopting sustainable design, and aligning with Freeport plans, the project will strengthen the local economy and reinforce Anglesey as a location for business and innovation.”
Gary Pritchard, leader, Isle of Anglesey County Council added: “This project is of strategic importance to Ynys Môn. It supports both UK and Welsh Government Growth Deal objectives of promoting inward investment and using our Freeport status to increase demand for industrial development. Bringing the former Peboc site back into use and expanding Tregarnedd Industrial Park will create high-quality employment opportunities and strengthen our position as a we look to strengthen the island’s economy.”
Cabinet Secretary for Economy, Energy and Planning, Rebecca Evans, said: “This project will restore an important industrial site for use, delivering significant economic value for the region and its residents.
“With £120m in backing from the Welsh Government, the North Wales Growth Deal is delivering a transformation of the North Wales economy.”
Wales Office Minister Anna McMorrin said: “Progress on delivering this vital project is great news for Anglesey. Bringing this site back into use for development will create new jobs and encourage investment, benefitting local people as we help grow the local economy.
“Investment from the UK Government via the North Wales Growth deal and Anglesey Freeport is helping unlock the potential of Anglesey, putting more money into the pockets of local people.”
The wider element to the Freeport Gateway project could see Isle of Anglesey Council constructing additional employment units on the adjacent Tregarnedd Industrial Park.
The growth deal aims to see £1bn of investment into the region’s economy, with £240m committed by the Welsh and UK governments. The deal’s projects are also seeking to secure co-investment of £721m from the private sector and £179m from the public sector.
