Founded in 2001 as an attempt to develop a series of sites where science and technology businesses could be nurtured, the Technium scheme has madea loss in excess of £5.4 million since, Freedom of Information requests have revealed.
Mike Priestley, Welsh Liberal Democrat candidate for Aberconwy said:
"Despite a number of individual successes, overall the Technium project has made losses of over £5.4 million. Some individual projects have made huge losses. Port Talbot has lost £2.2 million and so has Technium Cast in Bangor.
“The Technium project has been widely criticised, including by the Government’s own Economic Advisory Council. Welsh Liberal Democrats have argued for a much closer relationship with the universities to help create more organic clusters of expertise and innovation. Instead, the Labour-Plaid government ignored expert advice and have presided over a colossal waste of tax payer’s money.
“When every family, charity and business is making every pound stretch that little bit further, Wales needs a government that does the same. Labour and Plaid Cymru have turned waste, incompetence and inefficiency into an art form.”