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CARDIFF CAPITAL REGION (CCR) CITY DEAL


By Councillor Andrew Morgan


t is hard to believe that it is just nine months since the Leaders of the ten local authorities in South-East Wales put pen to paper at Cardiff Airport to formalise the £1.2billion Cardiff Capital Region (CCR) City Deal.


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The document signed at that ceremony on St David’s Day, following the Heads of Terms agreement with the local


Cllr Andrew Morgan


authorities, the UK Government and the Welsh Government, committed to


bring about significant economic growth in the CCR region through investment, upskilling, and improved physical and digital connectivity.


With an investment of £1.2 billion – split between the UK and Welsh Government, with contributions from the ten local authorities – the programme aims to deliver up to 25,000 new jobs and leverage an additional £4 billion of private sector investment. A key commitment is the creation of a South Wales Metro network. A few short weeks after signing, the


CCR Cabinet comprising the ten Leaders agreed a £37.9million investment with IQE plc to support the development of the first Compound Semiconductor industry cluster in South-East Wales.


The programme has the potential to leverage up to £375million of private sector


investment over the next five years, and create up to 2,000 high value, high-tech jobs. Once completed, it has the potential for hundreds more jobs in the wider supply chain and cluster development. A state-of-the-art facility, which is located in Newport, is owned by the ten councils in the Regional Cabinet under the special purpose vehicle ‘CSC Foundry Limited’ / ‘LDC Ffowndri’ and the space leased to IQE plc for compound semiconductor manufacturing and applications development, helping with the establishment of the world’s first Compound Semiconductor Cluster. Future initiatives can apply for funding through the CCR Wider Assessment Fund. Such applications will be subjected to significant scrutiny through a bespoke impact assessment tool, which will evaluate bids against the objectives of the City Deal.


South-East Wales. The eight-point plan has been established to prioritise areas for skills investment that will achieve social and economic benefits for the CCR, with the fundamental goal of identifying employment and skills priorities over short, medium and long-term periods to develop the social and economic potential of the south-east Wales regional economy. The plan established eight regional priorities that it is believed will shape the success of the CCR over the coming years. These include:


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But it is not just about the money. Another prominent development for


the CCR City Deal this year has been the unveiling of the Employment and Skills Plan, which was launched by the Learning, Skills and Innovation Partnership (LSkIP)


With an investment of £1.2 billion – split between the UK and Welsh Government, with


contributions from the ten local authorities – the programme aims to deliver up to 25,000 new jobs and leverage an additional £4 billion of private sector investment.


• delivering employment and skills support for industry and infrastructure;


• supporting industry to address skills gaps and shortages;


• developing higher level skills to future proof the workforce;


Friars Walk - NEWPORT COUNTY COUNCIL 54


• increasing the number of apprenticeships;


COMMERCIAL PROPERTY MONTHLY 2017


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