£160m investment programme aims to create 4,000 jobs in south-east Wales

Mark Mansfield

A £160 million programme aimed at attracting investment and creating thousands of skilled jobs in south-east Wales is set to get under way.

The Cardiff Capital Region Investment Zone will focus particularly on advanced manufacturing and digital technology in Cardiff and Newport, building on the region’s existing semiconductor industry.

The 10-year programme is funded by the UK Government and supported by the Welsh Government.

Cardiff Capital Region (CCR), which represents the ten local authorities in south-east Wales, says it expects the programme to attract more than £500 million in private investment and create up to 4,000 highly skilled jobs over the next decade.

It is also intended to provide additional space for research, product development and advanced manufacturing.

Although much of the activity will be concentrated in the Cardiff and Newport area, CCR says businesses and workers elsewhere in the region could benefit through supply chains, training and employment.

The programme has been developed with Cardiff and Newport councils and Cardiff University.

Some work has already begun, including investment in infrastructure and training schemes intended to provide workers with the skills required by technology and manufacturing companies.

A further £4 million skills programme has now opened for organisations interested in delivering training.

Benefits

Newport City Council leader Cllr Dimitri Batrouni said: “While focused within Newport and Cardiff’s travel to work area, its benefits will be felt across all ten local authorities through new investment, stronger supply chains, enhanced skills provision and high-value employment opportunities.”

A formal agreement between Cardiff Capital Region, the UK Government and Welsh Government was signed earlier this year.

Cabinet Minister for Enterprise, Connectivity and Energy Adam Price said: “By bringing together business, academia and government around our world-leading semiconductor cluster, we’re turning opportunity into delivery.”

He said the programme would also help strengthen supply chains and encourage private investment.

Technology

The programme has a particular focus on the semiconductor industry, which already has a significant presence in south-east Wales.

It will also support companies working in other areas of advanced manufacturing and digital technology.

Cardiff University is involved in the Investment Zone, with its research expected to form part of efforts to develop new technology and attract businesses.

Compound Semiconductor Applications Catapult, based in Newport, will also participate. The organisation works with semiconductor companies to develop and commercialise new technologies.

Its chief executive Caroline O’Brien said: “CSA Catapult has a clear focus on the growing markets of AI and defence.

“From our base in the Investment Zone, we help scale UK semiconductor companies, delivering long-term economic benefit.

“We currently have several international partners co-located at the Catapult and we are keen to attract more.”

---

Get more trusted Welsh news

Choose Nation.Cymru as a preferred source in Google News to see more of our journalism.