Cardiff Capital Region Investment Zone to Focus on Semiconductor Cluster
The Investment Zone – a joint initiative between the UK and Welsh Governments – will drive innovation and growth across the advanced manufacturing and digital and technology sectors, with a focus on the region's world-class compound semiconductor cluster.
Backed by £160 million of UK Government funding, the Zone will develop the semiconductor hub in Newport, where key businesses including KLA, IQE and Vishay are located, and develop a science and technology park to become the focus point for R&D activity and investment in Cardiff.
The Investment Zone – one of two planned for Wales – is expected to attract £500 million of private sector investment, create 4,000 new jobs and unlock 3 million square feet of manufacturing, R&D and innovation capacity.
UK Minister for Building Safety, Fire and Local Growth Alex Norris said:
'The Cardiff Capital Region Investment Zone Investment Zone, which we're backing with £160 million of funding, will build on the region's industrial strengths to shape an exciting future for local people – creating new skilled jobs and driving economic growth locally and across Wales.'
Welsh Government Cabinet Secretary for Economy, Energy and Planning, Rebecca Evans, said:
'The Cardiff and Newport Investment Zone marks a transformative step forward for South East Wales and demonstrates our firm commitment to establishing the region as a global powerhouse in compound semiconductors.
'We will continue working closely with the South East Wales Corporate Joint Committee and the UK Government to build on the region's strengths, attract significant private investment, strengthen regional partnerships and deliver real benefits that people across Wales will feel in their everyday lives.'
Welsh Secretary Jo Stevens said:
'This step forward for the Cardiff Capital Region Investment Zone is a huge boost for the world-class business and industry within the area.
'It will drive growth, create 4,000 jobs and build on the talent and expertise that already exists in this part of Wales.
'Working alongside Welsh Government we are building the economy of the future and delivering for working people across the country.'
Cllr Mary Ann Brocklesby, Leader, Monmouthshire Council, and Chair, Cardiff Capital Region said:
'This is a tremendous step forward for the Investment Zone. We look forward to building upon our strong industrial base and world-class research in semiconductors to drive innovation in emerging technologies, and fast-growing markets, whilst working together with UK and Welsh Government.
'By aligning our efforts with the region's unique assets and fostering collaboration across sectors, we aim to create a dynamic environment where new ideas thrive, investment is attracted, and meaningful impact is delivered to people and places across the region.'
The news comes as part of the Industrial Strategy announcement. As set out in the strategy, advanced manufacturing and digital and technology are two key growth-driving sectors.
Dr Wyn Meredith, Chair of CSconnected Ltd, the collective brand for advanced semiconductor activities in South East Wales, said:
'Today's announcement marks a major milestone in strengthening South Wales' position as a global leader in compound semiconductor technologies. The Cardiff Capital Region Investment Zone will support the growth of this strategically important industry, accelerating supply chain growth, workforce development programmes, and innovation to produce the products and services of the future. These factors are critical drivers for further job creation, inward investment and remaining globally competitive in this highly competitive global industry.
'This investment is a clear vote of confidence in the talent, capability and ambition of the region. We look forward to working with our partners to ensure that the Investment Zone delivers real, lasting impact, not only for the economy, but for communities and future generations across Cardiff and South Wales.'
Michael O'Sullivan, Executive Vice President of Vishay, which operates the largest semiconductor factory in the UK based in Newport, said:
'This is a critical milestone for South Wales and the UK as a whole – a vote of confidence in the talented workers who have attracted investment from Government and companies across the globe. We know that the world class semiconductor cluster in South Wales has the expertise to meet the great challenges of our age – from Net Zero to the huge energy demands that will come from the growth of AI and electric vehicles.
'We plan to invest £250 million, supporting 500 jobs to manufacture cutting edge compound semiconductors. These microchips with faster processing speeds will reduce energy losses and support advanced manufacturing industries from next generation wind turbines, data centres, to the latest electric vehicles and chargers.
'We look forward to working in partnership with leaders in the Welsh Government, Cardiff Capital Region and beyond to make the most of this opportunity for growth.'
In February it was announced that the Wrexham and Flintshire Investment Zone is set to focus on the area's strengths in advanced manufacturing and is expected to crowd in £1 billion of private investment over a decade.
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