Cardiff Capital Region City Deal
The Cardiff Capital Region is made up of an area of South East Wales, consisting of the ten local authorities; Bridgend, Vale of Glamorgan, Rhondda Cynon Taff, Merthyr Tydfil, Caerphilly, Monmouthshire, Blaenau Gwent, Torfaen, Newport and Cardiff.
The UK Government and Welsh Government have committed £1.1bn to the City Deal - which is supported by an additional £120m committed from the 10 local authority partners.
The City Deal will help boost economic growth by improving transport links, increasing skills, helping people into work and giving businesses the support they need to grow.
It will also establish strong governance across the region through a Cardiff Capital Region Cabinet. Through this, the ten local authority leaders will join up decision making, pool resources, and partner with business.
The City Deal includes: -
- £1.2 billion investment in the Cardiff Capital Region’s infrastructure through a 20-year Investment Fund. A key priority for investment will be the delivery of the South East Wales Metro, including the Valley Lines Electrification programme.
- The creation of a non-statutory Regional Transport Authority to co-ordinate transport planning and investment, in partnership with the Welsh Government.
- The development of capabilities in Compound Semiconductor Applications. The UK Government will invest £50 million to establish a new Catapult Centre in Wales. The CCR will also prioritise investment in research and development, and provide support for high value, innovative businesses.
- The Cardiff Capital Region Skills and Employment Board will be created (building on existing arrangements) to ensure skills and employment provision is responsive to the needs of local businesses and communities.
- The CCR and the Welsh Government will work with Department of Work and Pensions to co-design the future employment support from 2017 for people with a health condition or disability and/or long term unemployed.
- A Cardiff Capital Region Business Organisation will be established to ensure that there is a single voice for business to work with local authority leaders.
- The Welsh Government and the Cardiff Capital Region commit to a new partnership approach to housing development and regeneration. This will ensure the delivery of sustainable communities, through the use and re-use of property and sites.
For further information go to the FAQs section on the Cardiff Capital Region website.
Watch the video about the benefits of the proposed Cardiff Capital Region City Deal.
The recommendations for the future economic strategy for the Cardiff Capital Region will be shaped from the findings of the independent Growth and Competiveness Commission chaired by international city-region expert Professor Greg Clark. Prof Clark and his team of commissioners have been gathering evidence from community leaders, business and other stakeholders before presenting a report to the Shadow Cabinet on how best the City Deal can be utilised to ensure economic growth across the Cardiff Capital Region. This report is due to be launched in November 2016.
For further information about the Cardiff Capital Region City Deal go to www.cardiffcapitalregioncitydeal.wales or follow them on Twitter @CCRCityDeal