The Strategic Hubs Barry, Bridgend, Caerphilly, Caldicot, Cwmbran, Merthyr Tydfil, Pontypridd.
No mention of Cynon Valley as pert of the Strategic Hubs
Andrew Morgan said, housing, transport, skills and jobs, and in turn, that will bring about economic benefits across the region.
RCTC press release below
The Cardiff Capital Region Economic Growth Partnership (EGP) has unveiled its Industrial and Economic Growth Plan for South-East Wales to improve future productivity and prosperity across South-East Wales.
The Plan responds to the dynamic challenges the region will face over the next 20 years.
The Plan involves:
- Identifying the region’s strengths and weaknesses and maximising its opportunities.
- Identifying and developing the skills required to benefit business and create a highly-skilled, motivated and forward-thinking workforce.
- Enabling the appropriate infrastructure to enhance connectivity, both digitally and physically.
- Developing opportunities to encourage innovation and entrepreneurship.
- Creating an Innovation Investment Fund that creates opportunities for businesses to compete and contribute towards job growth and improvement in the local Gross Value-Added metric.
The Plan builds on the broad framework for action set out by the Growth and Competiveness Commission report which gave its findings in December 2016.
The Economic Growth Partnership collaborated closely with the City Deal Cabinet throughout the process, which has fully endorsed the final Plan.
Building on the region’s competitive advantage and opportunity within the economy, the Plan strategically targets sectors for support to grow and flourish. These include, but are not limited to:
- Compound Semiconductors and its supply chain
- AI, Data and Cyber Security
- Financial Technology
- Creative Economy
- Life sciences – more specifically the medical devices and diagnostics subsectors.
- Transport Engineering – automotive, trains and aircraft
The CCR has already started investing in these industries, providing £38.5 million to support the world’s first compound semiconductor cluster based in South-East Wales.
Another critical focus of the Economic Growth Plan is reliable infrastructure that connects the region, not only across the region but also beyond. By making the region more accessible, the Plan can support deprived and isolated communities that are currently poorly connected and encourage regenerative growth. The future infrastructure of the region will be underpinned by the £734million South Wales Metro, which is being funded with City Deal investment.
The Economic Growth Partnership has also been tasked with designing an Investment and Infrastructure Framework, addressing three designated and interconnected investment priorities of innovation, infrastructure and industrial challenges of mobility, ageing population, AI and challenge-led economic growth. This inventive approach recognises the need to improve the business environment within the CCR, rendering the region competitive and investable with a global focus, both inwardly and externally.
The full plan can be accessed on the Cardiff Capital Region website.