CCR's ‘News From’ newsletter, March 2024

News From

Introduction

A very warm welcome to the first edition of Cardiff Capital Region’s (CCR) News From in 2024.

This will be a bi-monthly newsletter, sharing news, updates, and events from around the Region with colleagues across our 10 Councils.

There’s lots to report on, starting with updates on CCR’s imminent Corporate Joint Committee status, which is explained below.

With this new status, we will continue to invest in our Region, improving the quality of life for the people who live here. New responsibilities for transport and housing mean we’ll be able to plan for the Region’s future, for example looking at where people need homes and better transport links.

We remain committed to working with our Council partners, and Welsh and UK Governments to deliver on our strategic plans.

Working with you, my CCR Cabinet colleagues and our council colleagues, I look forward to realising this opportunity to bring about shared prosperity for our Region’s residents.

I am proud to be part of this evolving story helping our Region reach its potential as a unique and fulfilling place to live, work and enjoy.

One final note, please share this edition far and wide so that all our members understand the work Cardiff Capital Region is doing to benefit our residents, communities, and businesses.

Warmest wishes,

Cllr Anthony Hunt Leader of Torfaen County Borough Council and Chair of CCR’s Regional Cabinet

Key Updates

Becoming a Corporate Joint Committee

With Spring fast approaching, we are on the verge of an exciting new chapter in our evolution. As you may be aware, from April 1 2024, we will become the South East Wales Corporate Joint Committee.

Our new corporate body will still be known as Cardiff Capital Region and that’s how we’ll still be known in everyday conversations, ensuring we build on the collaborative work and reputation already in place, but South East Wales Corporate Joint Committee will be our legal name.

We’ve been working together successfully as a partnership of ten councils since 2017 delivering Cardiff Capital Region City Deal. Our investment has already created 3,474 new jobs across our Region; we’ve supported over 200 businesses and invested millions in our Metro transport system.

We will continue to invest in things that improve our residents’ quality of life – jobs, transport, homes and communities. But new responsibilities for transport and planning mean we will have the opportunity to do more.

Bannau Brycheiniog National Park Authority will join us as a voting member of the committee on strategic planning issues, and we will work with our councils and the national park authority to plan ahead for the Region’s future, looking at where people will need homes and better transport links.

There will be robust and transparent decision making made in public by democratically elected members.

We will continue to work collaboratively with our partners in the Welsh and UK Governments to improve the lives of our Region’s 1.5m residents.

Corporate Joint Committees are being implemented across the four regions of Wales, following the Local Government and Elections (Wales) Act 2021. They will provide a framework for greater collaboration between councils, leading to a more consistent, simplified and democratically controlled way of regional working.

Investment News…

Cameras will be rolling at Seren Studios with £12m of funding from CCR’s Strategic Premises Fund.

Envisaged to become one of Europe’s leading centres for Film & TV production, Great Point Seren Studios in Cardiff, will benefit from this injection.

CCR invests £9.7m to complete the Ty Newport Hotel

The hotel will form part of the wider Celtic Manor Resort’s umbrella, the business established by Welsh-born entrepreneur, Sir Terry Matthews, who has founded over 100 successful technology businesses, including Mitel and Newbridge Networks.

CCR selected as an Investment Zone by UK and Welsh Governments

Back in November last year, Cardiff Capital Region received exciting news that the Region had been selected as a recipient of £160m funding from UK Government and Welsh Government.

CCR is leading the development of the South East Wales Investment Zone proposition alongside UK Government and Welsh Government and other key stakeholders as part of a collaborative gateway process. This is a five-stage process that will include evidencebased recommendations to:

Identify the focus sectors and clusters.

Provide analysis of the desired locations for the focus of the fiscal benefits.

Develop proposals for the allocation of the capital and revenue flexible spend.

Generate objectives for economic growth and attraction of private inward investment. Develop arrangements for overseeing development and delivery of the investment zone.

It is anticipated the gateway process will take six months to complete with delivery expected to begin before the end of 2024.

Innovation Investment Capital announced investment in Mazuma

This fantastic announcement for Bridgend sees Mazuma, one of the leading providers of accountancy services for micro businesses in the UK, receive a multi-million pound investment to scale its business.

Founded by Lucy Cohen and Sophie Hughes in 2006, Mazuma differentiates its business through a subscription model that allows subscribers to choose from a range of competitively priced accountancy packages and benefit from its proprietary technology through MazApp®.

Events

Regionally Unleashed Bridgend in November & forthcoming Torfaen Event

CCR held its second ‘Regionally Unleashed’ breakfast roadshow in Bridgend in November. Speakers included Kellie Beirne, CEO of Cardiff Capital Region, Joanna Pontin of Fortium Technologies, Phil Sampson of PwC, and George Richards of CBRE.

Over 100 attendees heard from successful companies who had secured CCR funding and the impact that funding has had on their businesses over a working breakfast at The Coed-Y-Mwstwr Hotel.

Following on from the success and encouraging feedback from the first two events, the third Regionally Unleashed takes place at The Parkway Hotel in Cwmbran on Tuesday 16th April 2024.

CCR hosted high profile Wales Week London Event

CCR held an investment reception at the House of Lords in February. Promoting investment opportunities in our Region, the event attracted over 90 attendees including investors and developers. Hosted by Baroness Wilcox of Newport, Cardiff Capital Region’s Director, Kellie Beirne facilitated discussions between an expert panel comprising Wales Office Minister Fay Jones MP; Lucy Cohen of Mazuma, which recently received capital funding from the CCR’s Innovation Investment Capital to help boost its operations; Michael Magee, a Partner at PwC; and George Richards, senior director at CBRE. Conversations are continuing with these investors about potential co-investments in the Region.

CCR Showcases its £15 billion of Investment Opportunities at MIPIM 2024

Held in Cannes each year in March, MIPIM is the world’s premier real estate event bringing together the most influential players from all sectors of the international property sector. Working closely with key stakeholders to raise CCR’s profile even further for MIPIM 2024, the Cardiff Capital Region’s strong investment proposition will be promoted to a global audience. Over 20,000 visitors attend MIPIM over the four days of the event, attending the conference and other events and touring the hundreds of exhibitors including major British City Regions such as Manchester, West Midlands, London and Belfast among others.

CCR has a pavilion open to these visitors which is supported by the Welsh Government and which will play host to panel discussions and speeches from CCR Leaders, officials and property and investment experts from the private sector. The CCR team will be promoting the current £15 billion of investment opportunities across the Region including specific individual sites, many of which are included in CCR’s investment prospectus.

Programmes

£6.6m Cluster Development Growth Programme launched in December 2023

The Programme, jointly funded by CCR and the UK Shared Prosperity Fund, will deliver targeted projects across the region, supporting activity within CCR’s priority sectors: Fintech, MedTech, Cybersecurity, Compound Semiconductors, and Creative Industries, along with CCR’s Net Zero ambitions.

CCR Business Growth Programme to support 75 businesses across the Region

Doors are open for businesses across the ten councils who want to scale up and receive targeted support. Already over 160 businesses have applied to this jointly funded programme by Cardiff Capital Region and the UK Shared Prosperity Fund, with the first cohort of 25 soon to be announced.

Participants will experience a two-day immersive training workshop with renowned experts from Grant Thornton, Cardiff Metropolitan University and Business in Focus, covering strategic planning, sales mastery, talent management, operational efficiency, and financial acumen.

Please share this with your local business contacts as there is also an additional fast track opportunity. The top 12 participants out of the initial cohort will be selected to join the CCR Business Growth Accelerator, receiving even more intensive and bespoke support.

Aberthaw Power Station Update

Aberthaw was a decommissioned coal-fired Power Station in the Vale of Glamorgan. Further to purchasing the site, CCR has set up a company, CCR Energy Ltd, to remediate and deliver on the masterplan to redevelop the 500 acre site. CCR Energy’s shareholders are the ten Local Authorities of CCR.

At the heart of the project is a strategic vision and plan to create sustainable green and clean energy for decades to come, drive new jobs and prosperity for the region, as well as making a significant contribution towards UK and Welsh Governments’ 2050 net zero targets.

As we approach Spring 2024, the safe demolition of the former Power Station will begin. The site has been handed over to CCR Energy’s demolition contractor, Erith, who have a vast amount of experience in large scale ex-industrial sites. Since midFebruary, they have been getting the site prepared for demolition works which will start on the east of the site making its way over to the main building structures around the turbine hall.

The site has welcomed many guests, including ministers, local political members, universities, investors, and interested growth companies. Some CCR Energy team members are at this year’s MIPIM to promote the site and the investment opportunities it offers.

A new website for CCR Energy is coming. In the meantime, please like and follow the Team on Linkedin @CCR Energy

Fay Jones MP visited Aberthaw in January to view the Masterplan of one of CCR’s most ambitious projects (pictured above).

Future Events

Thursday 11th April

Northern Valleys Initiative

The Northern Valleys Initiative is a £50m benefits-based programme focused on delivering key projects that have the ability to support an increase in prosperity in Blaenau Gwent, Bridgend, Caerphilly, Merthyr Tydfil, Rhondda Cynon Taff and Torfaen.

The programme will concentrate on infrastructure, digital connectivity and tourism sectors delivering a wide range of outcomes including jobs, ecological regeneration and de-carbonisation.

Wednesday 17th April

SEWBCC Net Zero Action Business Event

The Coalition’s next in person event will take place in April, featuring updates from Welsh Government on plans to support SMEs aiming to de-carbonise, as well as talks on achieving B Corp status, accessing green skills, and funding to achieve zero objectives. Please share with your business networks.

For further information or to contact Cardiff Capital Region, please email our Marketing and Communications Team via info@cardiffcapitalregion.wales