CCR's Northern Valleys Initiative2024

Northern Valleys Initiative

Finance and funds granted to support enabling projects in the Northern Valleys area in South East Wales

What is the Northern Valleys Initiative?

Launched in April 2024, the Northern Valleys Initiative is a £50m fund available to support businesses in South East Wales.

Created by Cardiff Capital Region (CCR), and supported by a Local Authority Delivery Team from Blaenau Gwent, Bridgend, Caerphilly, Merthyr Tydfil, Rhondda Cynon Taff and Torfaen.

The Fund is focused on the delivery of developments in three sectors, Infrastructure, Digital Connectivity and Tourism.

This ‘programmatic approach’ focuses on improving benefits in competitiveness, Gross Value Add (GVA), biodiversity and reducing carbon across the completed projects.

Cardi

Caerphilly

Newport Torfaen

Monmouthshire

Vale of Glamorgan

Bridgend

Rhondda Cynon Taf

Merthyr Tyd l

Blaenau Gwent

Why Invest in the Northern Valleys?

The Northern Valleys represents a significant element of the geographical footprint of the Cardiff Capital Region and remains a priority for CCR. For the past 25 years, the area has been a significant net-beneficiary of EU funds, with recent important developments such as the dualling of the A465 and pre-existing programmes like Tech Valleys and the legacy of achievements of the Valleys Taskforce.

In a post-COVID and Brexit economic landscape, there is an opportunity now for delivery partners to collaborate with resources to bring about meaningful and suitable economic change in the Northern Valleys area.

The Northern Valleys Initiative aligns with the CCR Region Economic Plan’s (2023-28)

Four Key Challenges:

Tackling economic disparities and boosting growth

Enhancing innovation capability and capacity

Decarbonising our environment by 2050

Improving our physical and digital infrastructure

£100k - £2m

Typical investments

Grants and Investments for:

Infrastructure

Digital Connectivity

Tourism

5 Year Programme (April 2024 – March 2029)

What Makes a Great NVI Project?

Grants and investments are normally targeted to be between £100k- £2m

Businesses are within the geographic boundary of the Initiative’s focus or are moving there for the long term

Both public, private and potentially third sector bids possible

Must generate outcomes that will deliver programme benefit to the Local Authority Area or Northern Valleys Region

Focused on Infrastructure, Digital Connectivity and Tourism

Environmental

Reduction in CO2 emissions

Increase in biodiversity

Relevant regulatory compliance

Reduce water usage

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Waste management

Reduction in pollution and contamination of land, air and water

Does it create more Industrial & Employment space?

Creation of jobs

Improved digital infrastructure

GVA increase

Renewable energy generation

Can a Site/ Premise be reused and retrofitted?

Will there be a reduction in derelict sites?

Sites close / accessible to A465

Increase visitors & spend in the Northern Valleys region

Natural resource management

Social

Social responsibility

Ethical supply chain

Diversity of workforce

Fair wages

Employee conditions

Safeguarding

Community contribution

Local supply chain

Governance

Leadership diversity

Anti-bribery and corruption

measures

Accuracy and transparency

Fair taxation

Preservation and enhancement of biodiversity

Cyber protection policies

Example Project Illustration

There is an opportunity to utilise some existing local authority land to construct and enable the delivery of industrial space:

» Help to support enabling infrastructure (roads, substations, connectivity)

» Help to build greener infrastructure (Carbon reduction, ecology enhancement)

» Add EV Charging Infrastructure / Hub

» Support the construction of the entire site

» Support to improve connectivity in an innovation centre so that tech-based business can succeed

» Support to deliver high speed connectivity hot spots so that businesses and communities are better connected and may contribute to the economy

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