South-east Wales could benefit from £700m investment programme

Nation.Cymru staff/agencies

South-east Wales could benefit from a £700 million UK Government programme aimed at unlocking investment and creating jobs.

Cardiff Capital Region is among the areas where potential projects will be explored through the new strategic sites accelerator, which will help bring stalled industrial and commercial developments forward.

The region covers 10 council areas, stretching from Bridgend to Monmouthshire and including Cardiff, Newport and the south Wales Valleys.

Launching on Monday, the scheme will support between six and 10 nationally important developments across the UK through loans, equity investment and grants, alongside technical expertise.

Projects could include science parks and sites supporting defence, technology and manufacturing.

The Department for Business and Trade said the programme would target commercially viable developments with strong investor demand that had stalled because of barriers such as planning issues, grid connections or access to finance.

It aims to attract up to £2 billion in private investment, with mayors and local leaders helping to identify opportunities.

Chancellor John Healey said: “Local leaders know their communities best. Only by trusting them with real power and resources will we see change.

“This £700 million package is helping break down the barriers to local growth, so people can feel the benefits of a growing economy and love where they live.”

The Government said it was already working with local partners on potential sites in Glasgow, Sheffield and a proposed science and technology park at Burgess Hill in Sussex.

Alongside Cardiff Capital Region, the programme will explore options in Greater Manchester, West Yorkshire, the West Midlands, South Yorkshire, Liverpool City Region, the North East and Glasgow City Region. It is open to sites across the UK.

Business Secretary Jonathan Reynolds said: “Britain’s potential is everywhere, but we hear the same old arguments all too often – outdated infrastructure, insufficient access to finance, and problems with planning.

“These are barriers that hold back investment, block new jobs and shackle our potential, and we need to do more to empower our local leaders and help drive the growth their communities deserve and expect.”

Jobs

He said the programme could unlock tens of thousands of jobs in the years ahead by helping some of the UK’s most important potential development sites progress.

The initiative brings together the Office for Investment and the National Wealth Fund, with commercial property services and investment firm CBRE acting as its national delivery partner.

No 10 North will also work with the programme and local leaders to identify investment opportunities.

Plans for the accelerator were first announced as part of former Prime Minister Sir Keir Starmer’s 10-year industrial strategy.

Applications are open until January 19, 2027.