Latest from Business News Wales
Business News Wales
8 hours ago
- Business
- Business News Wales
Investment in Transport is Critical for Wrexham's Future
There's no doubt about it – North Wales is primed for growth. With its growing cluster of advanced manufacturing businesses, a skilled workforce, and game-changing industrial developments being brought forward, the region is set to become a key contributor to the UK's wider economic prosperity. But there's one critical piece of the puzzle still missing: modern, reliable transport infrastructure that serves the needs of local communities and businesses and connects North Wales seamlessly to other major UK cities. Government figures, including Andrew Ranger, MP for Wrexham, and Ken Skates, Cabinet Secretary for Transport and North Wales, have added their voices to calls for improvements to the region's transport infrastructure. And just last month, Sam Rowlands, MS for North Wales, called for improved public transport links to and from Wrexham Industrial Estate. FI Real Estate Management, the commercial property firm I lead, has had a presence on Wrexham Industrial Estate for 20 years. During that time, we've grown our footprint to 3.1m sq ft, invested £136m in the region, and we're continuing to generate considerable benefit, delivering an estimated £1.2bn in economic value over the next decade. The announcement of the £160m Advanced Manufacturing Investment Zone earlier this year, which is now creating clear incentives for occupiers to consider Wrexham as a strategic UK destination to expand into, adds more weight to the place-based proposition for North Wales and its attractiveness to national and international investors. I'm certainly encouraged by this week's announcement from the Chancellor of £445 million in funding for new rail projects in Wales, including proposed improvements to the Wrexham-Liverpool line and upgrades to the North Wales mainline. Investment in critical infrastructure is essential to unlocking economic growth, and this commitment marks a positive step toward addressing the region's transport needs. But we need to go further and faster. I remain eager to hear the specifics on the government's plan to improve connectivity in and around the UK's second largest industrial estate. Investment in infrastructure to the tune of £113bn nationally represents a very real commitment from the government to prioritise the growth of the economy across the regions of the UK, but we need to ensure that parts of North Wales do not get left in the shadows of England's city regions. The Welsh government has set out a clear vision for North Wales as a hub for innovation and advanced industries. Wrexham, with its rich industrial history and newly designated Investment Zone status, is central to that ambition. But without the infrastructure to match its potential, there is a real risk that businesses may look elsewhere. With growing concerns that current transport limitations could hinder operations, supply chain efficiency, and future growth, a lack of reliable connectivity may ultimately undermine Wrexham's competitiveness. As we continue to develop two game-changing logistics schemes on the industrial estate – Wrexham 1M and Wrexham 152 – my focus remains on the employment opportunity for the region and the skilled jobs we're working to create. Earlier this week, we also submitted plans for a 77,000 sq ft facility on the southern edge of the estate. Improving transport links to and from Wrexham Industrial Estate needs to be high on the agenda for these opportunities to come to fruition. The estate and its existing community of businesses, which includes Kellogg's and JCB, are central to driving regional and national economic growth. Without a clear plan for targeted improvements to its transport links, Wrexham Industrial Estate will be held back. I'm incredibly optimistic about the future of Wrexham. It's a place I've long championed for its rich industrial heritage matched by a forward-thinking, entrepreneurial spirit. Improved connectivity would unlock new economic opportunities, opening the door to increased private investment, accelerated business development, and greater access to skilled labour markets. This week will have brought optimism to many businesses in the region and there's much to be celebrated. For me, the question remains as to how Wrexham Industrial Estate, and its cluster of ambitious businesses, fit into the government's priorities, at both a local and national level. Wrexham Industrial Estate is a critical centre for UK industry. Improved infrastructure, and the enhanced connectivity that that will enable, is the key to unlocking its full economic potential. Now is the time to invest in Wrexham's future.
Business News Wales
8 hours ago
- Business
- Business News Wales
Regional Collaboration Key to Driving Newport Forward
I've often said that Newport's economic potential is enormous. We are the fastest growing area in Wales, and we offer something for everyone, from the smallest shop to the largest factory. We can boast the world's first compound semiconductor cluster and Newport is home to Vantage, Europe's largest data centre, IQE, KLA Corporation, and the Compound Semiconductor Applications Catapult. More than 1,500 people across the region are employed by the compound semiconductor cluster (predominantly in Newport) but is expected to grow to around 5,000 jobs over the next five years. The KLA Corporation has invested over $100m to expand operations in the city, developing their new base at Imperial Park. This is a huge boost to our city's economy, and proof that major companies see Newport as somewhere to invest in. There is also a strong regional supply chain with around 70 firms involved in supplying the four major companies in the cluster. Newport is at the heart of the emerging investment zone for southeast Wales with the priority focus being on the compound semiconductor sector. Working with both Welsh and UK governments who are supporting and prioritising this sector, we can attract further inward investment and deliver on local, regional and national commitments to economic growth. We also have the Associated British Ports (ABP) owned and operated Newport Docks in the city. Newport has a proud industrial past and thrived because of its port. When Welsh black gold was king, by 1914 over six million tonnes of coal was shipped from the port of Newport and today the port, the UK's biggest steel port, handles around £1 billion of UK trade every year. ABP are investing in and growing the offer at the port in order to deliver good quality and sustainable jobs, both now and in the future. By 2040, ABP's vision is of a highly efficient zero-carbon port integrated with a new 'clean growth hub'. Together, these facilities will be a powerful combination, attracting businesses looking to futureproof their manufacturing and supply chains. The port will offer connections to low-carbon sea and rail transport, solar energy, wind energy, heat networks, hydrogen production, and carbon capture facilities – all alongside the land needed to build the next generation of businesses. The results will bring new jobs and prosperity to Newport, drive growth across the sub-region, and help us improve the well-being of current and future generations across Wales. Our area's potential for growth is unmatched. South Wales and western England are forecast to grow faster than any UK region outside London and strengthen the union and as local leaders, we are committed to making sure we can deliver on that potential. We know business sees no borders and with over 100,000 car journeys across the Severn Bridge every day, cross border working will be essential for our area to ensure we can make decisions which capitalise on our potential. One of the great advantages we have to us is our location. Visitors and businesses can be in Bristol with 20 minutes or London within 90 minutes by train, and can access international airports within 45 minutes. Importantly we have 3.3 million people living within a one-hour drive of the city. Newport is also a team player. We thrive and succeed in working together with partners, investors and agencies to deliver economic growth and positive outcomes. Newport was proud to be part of the former Western Gateway partnership which was a unique pan-regional partnership for south Wales and western England, bringing together business, local leaders and academia to grow a greener, fairer future for the area. While the Western Gateway no longer exists as a formal entity, we have established strong links with partners, and we are committed to retaining these close ties despite the loss of funding for the partnership. We cannot allow the progress made on exploring the potential to harness tidal energy in the Severn Estuary go to waste. I'm pleased to see colleagues in Cardiff Capital Region and West of England Combined Authority picking up the baton on this. Newport has also been part of the Cardiff Capital Region since 2016. This is an incredibly powerful partnership between the 10 local authorities in southeast Wales and brings a wealth of opportunity to share knowledge and expertise and also align national and strategic priorities. The Cardiff Capital Region partnership has directly invested in the Newport Mega-Foundry at Imperial Park, Tŷ Hotel Newport and also a housing development in Ringland. It has also invested in Simec Atlantis Energy's project to transform the former Uskmouth power station into one of the UK's largest battery energy storage systems. This is a major project, which represents a tremendous economic and sustainable energy opportunity for Newport, bringing over 500 jobs to the region while growing our capacity to generate clean energy. The phrase 'stronger together' applies in Newport, whether we are working together with our residents, businesses, stakeholders, investors and partners. The collaborative working is the key to us unlocking our potential and driving Newport forward to be the city we all know it can be.
Business News Wales
8 hours ago
- Business
- Business News Wales
Veritas Financial Group Joins Needham Financial
Veritas Financial Group, led by Director Vicki Picton, has officially joined Needham Financial, part of the Cardiff-headquartered The Cornerstone Network. Needham Financial said the partnership aligned with its mission to provide brokers with the safety of a larger network and the flexibility of direct authorisation, ensuring they have the resources and compliance support needed to thrive in today's financial landscape. Jonathan Needham, Business Development Director at Needham Financial, said: 'Having known and worked with Vicki for some time, I've seen firsthand her commitment to providing outstanding financial advice and client care. Bringing Veritas Financial Group into the Needham Financial family is a fantastic step, and I'm delighted to formalise this partnership. Their expertise and approach to financial services perfectly align with our values, and I look forward to seeing them flourish as part of our growing network.' Vicki Picton, Director of Veritas Financial Group, said: 'This partnership allows Veritas Financial Group to continue our mission of delivering tailored mortgage and protection solutions with even greater support and resources. Joining The Cornerstone Network strengthens our ability to serve our clients while staying true to our core values of trust, integrity, and expert financial advice. I'm excited for what the future holds as we take this next step together.'
Business News Wales
8 hours ago
- Business
- Business News Wales
Principality Building Society Celebrates Pride Cymru with Breakfast Event
(L-R) Gemma Bowen, Chief People Officer and Vicky Wales, Chief Customer Officer for Principality Building Society Headline sponsors of this year's Pride Cymru event, Principality Building Society, saw an impressive turnout at its annual colleague breakfast event to kick off Wales' biggest celebration of equality and diversity. Ahead of this year's Pride march, Principality hosted a breakfast event at the Parkgate Hotel to bring together colleagues, friends, and family and show support for the LGBTQ+ community. Led by Principality's Chief Customer Officer, and Executive Sponsor of the building society's internal Pride Network, Vicky Wales, the breakfast celebration attracted more than 100 attendees. Guests heard a speech from Duncan Alexander, founder of Principality's Pride network before they represented the society in the march with branded Pride t-shirts. Principality employees and their friends and families took part in the mile-long parade, reaffirming the society's ongoing commitment as an ally to the LGBTQ+ community and its pledge to creating a fairer society. This year marked the second year of Principality's third-year partnership deal with Pride Cymru as the headline sponsor. Looking forward, Principality's branch network across Wales will further support local Pride events in Newport, Abergavenny and Torfaen. One highlight will be the return of the Rainbow Roundabout at this year's Cardiff Half Marathon's on Sunday, 5th October, located between miles 10 and 12 of the course in Penylan. Vicky Wales, Chief Customer Officer at Principality Building Society, said: 'Our partnership with Pride Cymru is part of our ongoing commitment to ensure everyone feels seen, heard and valued. I am especially proud of our internal Pride network, whose passion and commitment made this year's Pride event another success. 'As we mark our 165th year, we're proud to continue to strive for inclusivity and a fairer society within the communities we proudly serve. Our Pride breakfast was a vibrant and meaningful way for our colleagues, their friends and family to celebrate before joining the parade and the festivities across the weekend.' Dan Walsh, Chair of Pride Cymru said: 'Pride is about joy, celebration and unity and it's always a pleasure to see Principality Building Society embrace that so wholeheartedly. We are grateful for their dedication in championing inclusivity and creating spaces where everyone feels valued. A household name across Wales, Principality's active allyship to the LGBTQ+ tells people, whichever city, town or village they live in Wales that there is a place for them in a modern, inclusive Wales.'
Business News Wales
8 hours ago
- Business
- Business News Wales
Time to Back What We're Brilliant At
Wales doesn't always shout about its strengths, but perhaps it's time we did. We know that, economically, Wales sits below the UK average in terms of overall value. That's a challenge we're working hard to overcome. But within that bigger picture, there are areas where we don't just compete, we lead. And one of those is manufacturing. Wales is around 20% stronger than the other UK nations when it comes to the value of our manufacturing output. That's not necessarily because we do more of it, it's because what we do is worth more. The expertise, the specialisms, the quality, these are all assets we already have. And they matter. Manufacturing is the quiet backbone of the Welsh economy. Whether it's components for aerospace, parts for offshore energy, or products for the pharmaceutical industry, we're already embedded in supply chains that stretch across the UK, Europe and beyond. And that puts us in a strong position to attract further investment, from companies who want to build new technologies, new facilities, and new futures in Wales. If an investor is looking to develop, say, an arc furnace, a floating offshore wind platform or a life sciences facility, we can point to the companies already here, already delivering, already proving that Wales is a safe and capable pair of hands. We have the infrastructure, the knowledge, and crucially, the track record. But we don't always tell that story well enough. As a nation, we tend to be humble, quietly proud, but rarely loud. And while that modesty has its place, it's not always helpful when we're trying to compete for attention, funding or inward investment. We should be shouting about our strengths, our pilot programmes, our innovations. We should be making more noise about what we do best. That's not just about external messaging, either. It's about helping our own communities understand what's on their doorstep. Too often, I hear stories of young people who live a mile from a major manufacturing site but have no idea what goes on inside, or what careers might be open to them. We've lost some of that community-to-industry connection that was once strong in Wales, when generations worked in the same steelworks, or passed on knowledge from one pit to the next. We need to rebuild that visibility, that pride, and that pipeline of opportunity. Because ultimately, this isn't just about jobs. It's about improving lives. It's about anchoring our economy in something real, sustainable, and valuable, and making sure the benefits of that are felt in every part of Wales. We already know what we're good at. Now's the time to back it, and say it, proudly. Dr Jennifer Baxter talks about this and more in the recent Net Zero Industries Wales podcast episode 'The Green Economy – Investing in Skills and Workforce for a Net Zero Future' listen to the podcast HERE
