Local Growth Fund

In October 2025, the UK Government announced that £547 million will be invested in Wales over three years through the Local Growth Fund: More information on the Welsh Government's website


The aim of the Fund is to support productivity growth and tackle issues leading to economic inequalities across Wales.

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 Welsh Government will lead on the delivery of the Fund in Wales. Through its Investment Plan, it will work with the four regional Corporate Joint Committees to develop how the funding is allocated and spent. 

A total of £33.98 million has been allocated to the North Wales region for 2026–27 with 70% (£23.65 million) in capital funding a 30% (£10.33 million) in revenue funding. The allocation for 2027-28 will be £41.44 million, and £39.92 million in 2028-29.

 

The Fund in Gwynedd

A total of £6.2 million has been earmarked for projects in Gwynedd during 2026–27, with 70% capital and 30% revenue funding.

The Fund came into operation on 1 April 2026. For 2026–27, allocation arrangements will follow the model used for the UK Shared Prosperity Fund (2022–2026), with Cyngor Gwynedd acting as the lead authority for the North Wales region. From 2027–28 onwards, the Welsh Government will allocate and award funding to Ambition North Wales as the region’s Corporate Joint Committee.  

Local authorities across the region are currently developing plans to allocate this funding in line with Welsh Government guidance.  

 

Gwynedd Economy Strategy

On 14 May 2026, Cyngor Gwynedd adopted the strategy Gwynedd 2035: An Economy that Works for Everyone. A delivery plan will support this strategy, coordinating activity locally and identifying projects to prioritise for funding, including through the Local Growth Fund.

We are keen to hear about any projects or ideas that should be considered for inclusion in the Strategy’s delivery plan.

 

Contact us

For more information, please contact:  LocalGrowth@gwynedd.llyw.cymru