Latest news with #CardiffCapitalRegion
Business News Wales
16 hours ago
- Business
- Business News Wales
CCR Is Using Investment Returns to Fund Future Growth
When we talk about investment at Cardiff Capital Region, we're not just talking about transactions. We're talking about building something longer-term – an economy with the resilience, confidence and infrastructure to support its communities well into the future. That means we approach investment with a clear focus: not only to support businesses and projects today, but to get returns that can be reinvested in the next opportunity. That's the model we've built, and Zip World at Tower Colliery is a great example of how it works in practice. The £4.4 million loan we provided was repaid quickly and in full. That repayment, with interest, goes straight back into our investment pot. And that matters. It means we can now back the next ambitious idea, the next high-growth business, the next place-based regeneration project. We call it an evergreen model for a reason – because it's about creating a continuous cycle of investment and reinvestment, seeding and catalysing propositions for the future. Zip World Tower Colliery was the right project at the right time. The site itself – rich in history and identity – had huge potential. But potential isn't enough on its own. What mattered was the match: a responsible, values-driven business with a strong commitment to place, people and planet, and a local authority – Rhondda Cynon Taf – ready to work in partnership to bring the site to life. From our perspective, Zip World's move towards becoming a certified B Corp made them exactly the kind of company we want to work with. But our investment in Tower Colliery was never just about one site. It was about supporting a wider vision for what the Northern Valleys can become. This is an area with extraordinary assets and access to others – from the World Heritage landscape around Blaenavon to BikePark Wales, Penderyn Distillery and Big Pit. We want to help knit those assets together, build out the supporting infrastructure, and present a joined-up offer that brings more people into the region and encourages them to stay longer and spend more. That's why we're also working on integrated ticketing models and engaging with hotel operators to build the accommodation base that tourism in the Valleys now demands. Regeneration is never about just one element; it's about the ecosystem around it. Transport links, digital connectivity, energy infrastructure, skills provision – all of these play a role. So when we make decisions at CCR, we do so with that whole system in mind. We're managing a growing portfolio of impact-driven investment funds. These include Innovation Investment Capital, which supports high-growth scale-ups, and our Strategic Premises Fund, which is helping to deliver the development space growing firms need. We're also active in supporting early-stage businesses, as well as public service innovation – bringing councils and businesses together to find new ways of working that improve productivity and service delivery. The Northern Valleys Initiative, supported by £50 million, is a key part of our future direction. That fund gives us the flexibility to support both physical infrastructure and new economic opportunities across the Heads of the Valleys area. Digital connectivity, reliable energy supply and coordinated tourism development are all in scope – and all necessary if we're to achieve our shared goal of inclusive regional growth. We know that issues like energy supply are now fundamental. It's no longer an afterthought but a baseline requirement for businesses with capital-intensive operations. That's why we've also invested in large-scale battery storage in Newport and are progressing long-term plans for the former Aberthaw Power Station site. Our aim is to lay the right foundations so that businesses can grow with confidence, and public investments deliver maximum long-term value. The CCR region is home to ten unitary authorities, each with their own challenges and strengths. But together, we form a functional economic geography. As a corporate legal entity with statutory powers around economic wellbeing, transport and spatial planning, we can take a strategic view – and act at scale. We are not just investing in specific sites or businesses, but in building a stronger, more connected and more confident region. Projects like Zip World Tower Colliery show what's possible when the right people, ideas and support come together. And the fact that the funding returns to us, ready to back the next opportunity, is what makes the model work. It's not about short-term gains. It's about sustained progress, reinvestment, and making sure that every success becomes the foundation for the next. Kellie Beirne talks about this and more in the Cardiff Capital Region podcast episode Place-Making and Regeneration. Listen to the podcast here.
South Wales Argus
5 days ago
- Business
- South Wales Argus
Newport to benefit from £7 million semiconductor investment
KLA Corporation has announced a £7 million investment to expand its semiconductor research and manufacturing operations in Newport, delivering a major boost to Gwent's thriving tech sector. The funding includes £6.25 million from Cardiff Capital Region and £750,000 from Newport City Council, supporting the development of a 237,000 facility at Imperial Park. The site will house manufacturing space, a fabrication plant, and offices for up to 750 employees, placing Newport firmly on the map as a hub for compound semiconductor innovation. The new facility is located within Gwent's established compound semiconductor cluster and is expected to play a key role in advancing the UK's industrial strategy, and will also be vital to any plans for boosting defence capability. The investment aligns with the goals of the local Investment Zone initiative, which aims to drive economic growth and create high-value jobs in the Gwent area. Jo Stevens, Secretary of State for Wales, welcomed the announcement of more public money, highlighting its potential to deliver skilled employment and long-term prosperity for the region. Andrew Evans, Senior Director at KLA, said the expansion reflects Wales's strategic importance to KLA's global operations and its commitment to innovation. The UK government has argued that such public investment will further strengthen the connection investors like KLA have to the Gwent area. This latest move follows a £250 million investment by Vishay Intertechnology into Newport Wafer Fab earlier this year, further cementing the area's reputation as a semiconductor powerhouse. Together, these developments signal a new chapter for Newport, positioning it as a key player in the global supply chain for advanced electronics and chip technologies. KLA Corporation, headquartered in California, is a global leader in semiconductor process control. The company was formed in 1997 and provides technologies that help detect defects, improve production yield, and accelerate innovation in chip design and fabrication. Operating in over 20 countries and employing around 15,000 people, KLA reported revenues of $9.81 billion last year. Its customers include major semiconductor manufacturers worldwide, and its tools are essential for producing the ultra-precise chips used in your smartphone, AI systems, driverless vehicles, and more. The Newport expansion represents a significant step forward in Gwent's and the M4 corridor's rising profile in the semiconductor industry, according to KLA and politicians.
South Wales Argus
08-07-2025
- Politics
- South Wales Argus
Complaint at Monmouthshire meetings 'behind closed doors'
Jane Mudd, who was elected as a Labour candidate last year to the post that oversees the police service and helps set its priorities, is due to attend a briefing that is only for Monmouthshire County Councillors in September. While regular meetings of the council, and its various committees, must be held in public, with only limited powers to go into confidential session, the briefings referred to as 'member seminars' are closed to the public including members of the press. Councillor Armand Watts, who chairs Monmouthshire council's public services scrutiny committee, questioned the number of seminars being arranged, with his committee having been attempting for a number of months to arrange a meeting with Ms Mudd. That committee meeting, which will be open for members of the public to attend to view in person or follow on the council's YouTube channel, has now been pencilled in for the end of October, with the member seminar on September 1. Labour's Cllr Watts told his committee: 'My natural democratic instinct is to have these meetings with all the members there. I think it would have been a great meeting.' The Chepstow Bulwark and Thornwell councillor said the seminars are held 'behind closed doors' and questioned the number being held: 'They keep doing this. Committees have identified issues and they grab hold of it and have a seminar.' READ MORE: Questions over Severn Bridge monitoring group Magor West councillor councillor Frances Taylor said she would like the public services committee to have a meeting with the Cardiff Capital Region, which is made up of 10 local authorities including Monmouthshire. It recently had to fund a £5.25 million settlement following a High Court case brought over a contract to demolish a former power station, at Aberthaw, near Barry, it bought in 2022. Cllr Taylor, who leads the council's independent group, said: 'That email about the 'fine' was the first communication I've had from the Cardiff Capital Region in quite some time. I'd be really interested to know about the cost, and the benefits, as we are quite financially strapped.' Cllr Watts said he would consult the council's legal and democratic services officials over inviting the Cardiff Capital Region, which is also the combined joint committee, as he sits on the city region joint committee and the committee clerk said there is also the Corporate Joint Committee on which all 10 local authorities are represented.
Business News Wales
18-06-2025
- Business
- Business News Wales
Graduate Careers Event GradCon Cymru to Launch in Cardiff
GradCon Cymru, a new careers event for graduates in Wales, it set to debut in Cardiff this autumn to showcase the best of Welsh talent and employment opportunities. On September 9 2025, more than 50 employers and hundreds of Wales' emerging talent will come together for a day of networking, career development and street food at DEPOT Cardiff. Organised by Darogan and supported by headline sponsor Cardiff Capital Region, GradCon Cymru aims to connect Wales's top businesses and employers with students and graduates from the UK's leading universities. 'Wales produces outstanding graduates but a lot of them struggle to find the right opportunity in Wales after graduation,' explains Dr Owain James, founder of Darogan. 'GradCon Cymru will introduce them to great Welsh employers while helping businesses discover top talent and join a growing network committed to strengthening Wales's graduate workforce.' As the first large-scale graduate careers event of its kind in Wales, GradCon Cymru will feature exhibitors and sponsors across diverse sectors, including transport, legal, education and engineering. Confirmed sector sponsors so far include Audit Wales, Transport for Wales, Browne Jacobson, Novomorphic, CSConnected, Equal Education Partners, and more to be announced. 'This isn't your typical careers fair,' adds Gwenno Roberts, Events Manager at Darogan. 'Expect a relaxed and welcoming vibe with the chance to get your headshot taken by our professional photographer and plenty of cool street vendors to keep you fuelled for networking.' GradCon Cymru will be free for all graduates and students to attend. To secure your free space at the event, head to the event website to register your place:
Wales Online
05-06-2025
- Business
- Wales Online
Regional body's bungled handling of contract will cost the taxpayer £5.25m
Regional body's bungled handling of contract will cost the taxpayer £5.25m An independent investigation has been launched how the Cardiff Capital Region handed the process Aberthaw Power Station (Image: John Myers ) Taxpayers will have to pay £5.25m bill after a regional body responsible for handling the Cardiff City Deal bungled the awarding of a demolition contract for Aberthaw power station. The Cardiff Capital Region, a public body which was set up to invest more than £500m in the south Wales as part of the 2016 City Deal, was taken to court over how it awarded a demolition contract for Aberthaw power station, the disused power station it controversially bought from energy giant RWE. The body, which represents 10 councils, lost a high-court legal challenge brought by a losing bidder, Brown and Mason Group, which concluded in February. The former coal-powered station was acquired for £8m by the city region in 2022, with contractors Erith beginning demolition work last year. For our free daily briefing on the biggest issues facing the nation, sign up to the Wales Matters newsletter here Today, the region's chair Mary Ann Brocklesby gave an update to the Senedd, telling the economy committee that a settlement of £5.25m had been agreed. Brown and Mason had previously said they were seeking £10m. "I'm not able to say much more at this point because we are undergoing an independent review which we commissioned as political leaders to set in train precisely at the point that we knew we were going through a legal process," she said. Article continues below Cllr Brocklesby said: "We had to wait until that legal process was over before that independent review could start. "We are awaiting the findings which – subject to legal caveats – we will be making public." Kellie Beirne, chief executive of the south-east Wales c orporate joint committee and Cardiff Capital Region, said: "We're taking this extremely seriously, we recognise the gravity of it and again yes, [it's] something that we don't come and report. "Apologies again for the short notice but we had clearance, we briefed our internal stakeholders and we felt it important to be as transparent as we possibly could by conveying that this morning at this committee." She said a full independent review has been ordered. "When that review concludes and we have findings, we'll be able to be much more open about what happened and take steps to ensure that this can't happen again," she said. Asked whether the court case has impinged on work at the 500-acre site, Cllr Brocklesby insisted: "No, it continues at pace." Conservative MS Andrew RT Davies said: "When you came before this committee in September 2023, Kellie you said that £40m is but a drop in the ocean. "I think the words you used were hundreds of millions of pounds will be required. Obviously, this court case has not helped instil confidence in the private sector in coming on board as partners… so, how are you progressing in that goal?" Cllr Brocklesby replied: "Let's look at the wider ecosystem of CCR: one of the absolute strengths of it is that we have people across the region who are highly valued within their own sectors… who are highly respected not just in Wales but globally." "In terms of the future of Aberthaw, it does actually look very bright and we're not feeling any effects from the impacts of this highly regrettable procurement issue." Article continues below Ms Beirne said Cardiff Capital Region does not have deep enough pockets for what Aberthawr requires following the initial demolition and remediation phase.
