Investment zone announced for Flintshire and Wrexham by the chancellor
The Chancellor has announced the creation of a new 'Investment Zone' in Wrexham and Flintshire as part of his Autumn Statement.
The announcement came alongside zones for the West Midlands, East Midlands, and Greater Manchester.
The Flintshuire and Wrexham zone will be the second created in Wales, and the move has been welcomed by Clwyd South Conservative MP Simon Baynes.
Mr Baynes, who will be standing in North Shropshire at the next general election, said the plan could see millions invested in the area.
He said: "I am delighted by the Chancellor’s announcement that the UK government will establish an Investment Zone in Wrexham and Flintshire, particularly given that I represent in Clwyd South half of Wrexham County Borough Council.
"The proposal will see millions invested into the region by the UK government over the next ten years, providing direct benefit to businesses and constituents in Clwyd South.
"I am proud to be part of a government that has delivered, and will continue to deliver, for the people of Clwyd South for years to come."
As part of the announcement the Chancellor also confirmed he will be visiting the area tomorrow to celebrate the news.
Investment Zones were first announced by the UK Government last year.
They are designated geographic areas where government, industry and research institutes collaborate, with tax and regulatory rules designed to promote economic growth.
During his Autumn Statement, the Chancellor also confirmed that the financial incentives for Investment Zones would be increased from five years to ten years.
He also confirmed that he would establish a £150 million Investment Opportunity Fund to catalyse investment into the programme.
