The university hopes to develop a world-class centre
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A £10m world-class management centre is to be set up by Bangor University on a site overlooking the Menai Straits.
The university's business school hopes the new centre will make a major contribution to the economy of north Wales by providing management courses to local business people.
A European Objective One grant of more than £5m will contribute to the development.
The centre will be based within five refurbished Grade II listed buildings close to the Old College site on the Bangor campus.
The plans include a range of management development training rooms with state-of-the-art audio-visual and computer facilities for over 500 learners in the centre.
It will also offer conference and hospitality facilities with 55 en-suite bedrooms, residential accommodation and a mixture of office space, meeting rooms and IT training facilities.
Dylan Jones-Evans, Professor of Enterprise and Regional Development at the Bangor Business School, believes it will make a real difference to the region.
"The lack of management skills within businesses has been identified as a major barrier to the development of the Welsh economy," he said.
"The creation of this new facility will help address the provision of management courses for Welsh businesses.
The centre wil be housed in grade II listed buildings
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"This project will contribute significantly to the development of new sectors required to build a knowledge-based economy within the region.
Strong economy
"Most importantly, it will provide opportunities for local firms to develop their potential for growth, and give Wales a facility for business and management development that will rank with the best in Europe."
"We already have strong links across north Wales with businesses," said Professor Roy Evans, Vice-chancellor of the University of Wales, Bangor.
"The establishment of the management development centre will allow us to strengthen these links and emphasise the important role that the university can play in developing a strong regional economy."
The centre, funded through a combination of public, private, European and university funds, will be in historic buildings on the old Coleg Normal site on the university campus in Upper Bangor.