In October 2025, the UK Government announced that £546.5 million will be invested in Wales between 2026 and 2029 through the Local Growth Fund.
The aim of the Fund is to support productivity growth, strengthen regional economies, and tackle issues leading to economic inequalities across Wales. The Fund will contribute to the Welsh Government’s economic mission of raising living standards, supporting more balanced growth, and helping to halve the productivity gap between Wales and the rest of the UK over the next decade.
The Fund focuses on three main priorities:
- Priority 1: More productive and competitive businesses
- Priority 2: Increasing skills and supporting people into work
- Priority 3: Improving regional infrastructure
The Fund came into operation on 1 April 2026. Welsh Government Local Growth Fund: guidance explains how the Fund will operate in practice over the next three years. For 2026 to 2027, Cyngor Gwynedd is acting as the lead authority for the North Wales region. From 2027 to 2028 onwards, the Welsh Government will allocate and award funding to Ambition North Wales as the regional Corporate Joint Committee.
A total of £33.98 million has been allocated to the North Wales region for 2026 to 2027, with 70% (£23.65 million) in capital funding and 30% (£10.33 million) in revenue funding. The allocation for 2027 to 2028 will be £41.44 million, and £39.92 million for 2028 to 2029.
Local Growth Fund: Gwynedd
A total of £6.2 million has been earmarked for projects in Gwynedd during 2026–27, with 70% capital and 30% revenue funding.
Local authorities and regional partners are currently planning how to use this funding to support sustainable economic growth, productivity, employment, and infrastructure development in line with the Fund’s priorities and Welsh Government guidance. All projects receiving support will be monitored and evaluated against the Local Growth Fund Indicator Framework.
The Menter Gwynedd: Business Support Programme 2026/27 is supported by the Welsh Government through the UK Local Growth Fund in Wales, with funding being provided through Cyngor Gwynedd. If you are looking to start or grow your business, make better use of technology, or reduce your environmental impact, the programme can help you explore opportunities and access support that reflects your ambitions and priorities.
For further information, please contact busnes@gwynedd.llyw.cymru
Gwynedd Economy Strategy
The Gwynedd 2035: An Economy that Works for Everyone strategy will provide the foundation for coordinating local economic activity, identifying investment priorities, and considering which projects should be supported through the Local Growth Fund and other funding sources.
Contact us
For more information, please contact: LocalGrowth@gwynedd.llyw.cymru