The will stage a major investment investment today with confirmation of more than ten thousand new jobs across Wales from £16bn worth of investment projects.
The Wales Investment Summit at the ICC Wales in , will be attended by delegates drawn from 27 countries. Of the 300 firms participating – which include real estate investors and pension funds with billions in deployable capital – some 60% are currently not active in the Welsh marketplace.
The Welsh Government were not able to give a precise breakdown on the promised jobs between newly created permanent roles and construction related.
These are projects that have been confirmed since the First Minister announced plans to hold a summit when she took up office last year.
What the summit itself will generate in terms of new job creating projects could takes years to fully evaluate, as investment decisions of scale often have to be approved as part of wider long-term plans. The Welsh Government will be presenting a number of projects at the summit, although they are already in the marketplace, for potential investment. However, bringing government and investors together in the ‘same room’ could identified new opportunities.
Of the 10,000 job figures some 5,000 have been ascribed to US data centre venture Vantage Data Centers as part of a £10bn investment across south Wales, including at the former Ford engine plant in which it will transform into a major data-centre campus to meet the demands of the AI.
However, the vast majority of the jobs will be construction related with around 500 permanent jobs being created at Bridgend. Vantage, which already has a data centre campus in , also recently secured planning for an another major data centre project at the Welsh Government-owned Bro Tathan Business Park in the Vale of Glamorgan.
Other projects include:
- A £600m investment from Vodafone whch will bring its 5G standalone coverage in Wales to 99% and reach two million more people.
- GE is investing £18m modernising its aerospace engine testing facility at Nantgarw site, which employs around 1,350 highly skilled engineers and technical specialists.
- Associated British Ports is investing £42m in five Welsh ports, including introducing a new deep-water berth at Middle Quay, Newport.
- Energy giant RWE is investing £200m in its largest facility for battery energy storage in Pembroke. This will help to stabilise the Ƶ energy market by storing surplus energy and feeding it into the National Grid Eni is also committing to a £100m carbon capture and storage on the site of the former colliery area at Point of Ayr, Flintshire creating more than 1,000 jobs.
- Cardiff-based television and film production company Bad Wolf is investing £2m in the production of two new high end TV productions that will generate a £30m upside, both direct, indirect and induced, to the Welsh economy. The investment will create 300 freelance roles.
The summit will be attended by Prince of Wales, who will meet a number of Welsh businesses, before joining the main conference where he will deliver a speech.
The First Minister said: “These major funding announcements, totalling billions of pounds, are a huge vote of confidence in Wales. Today is about celebrating Wales and encouraging even more companies to invest here and create jobs here. It is a platform to showcase all we have on offer – green credentials, talent and innovation in spades.
“We have been busy creating the right conditions for foreign investment to flourish. And it’s already paying off with world-class companies like Vantage choosing to invest here in Wales.
“The next step is building on these major investments to ensure the jobs and economic benefits reach each and every part of Wales.”
Stephen Edwards, managing director and executive plant leader at GE Aerospace Wales, said “This investment reflects GE Aerospace’s commitment to operational excellence and sustainability. By modernising our infrastructure, we are not only enhancing our capabilities but also creating opportunities to support the next generation of engines and renewable energy projects. This investment secures the future of global operations right here in Wales, the gateway to the European aerospace market.”
Nikolaus Valerius, chief executive RWE generation SE, said: “In a dynamic energy world with more and more renewable energies, there is an increasing need for mature technologies that can instantly support the electricity grid. Battery storage systems are ideal for this because they are fast, efficient and competitive. Our Pembroke battery is our Ƶ flagship storage project and will make an important contribution to stabilising the Ƶ energy market by efficiently storing surplus energy and feeding it into the national grid in a targeted manner.”
There will be a number of breakout meetings where particular projects seeking investment will be pitched to potential investors, although many are already in the marketplace, such as the Welsh Government's planned £400m Global Centre of Rail Excellence project in the Dulais Valley.
It would be the world’s first integrated testing facility for both trains and rail infrastructure. To date it has attracted interest from the private sector, they are not willing to commit at the required level, leaving the Welsh Government, as it stands, facing having to plough more of its own funding into it.
The summit will offer an opportunity for the project to attract investment in energy and data centres on the 500-hectare site, for which land deals could help close the current funding gap .
Also presented will be property investment opportunities in and for next phases of the Pentre Awel scheme in . A prime undeveloped land site on the south side of the Callaghan Square office scheme in the centre of Cardiff will also be promoted to potential investors.
There is an element of irony here, as the Welsh Government acquired the land from developer MEPC well over a decade ago on the rationale that they were better placed to bring investment forward. The site’s attractive to potential investors, which could see a mixture of residential, office and leisure development is expected to boosted by it being included in the new investment zone covering strategic investment sites in Cardiff and Newport
The proposed Cardiff Parkway new mainline train station, integrated into the planned 9000,000 sq ft, will also be showcased to delegates, although it already has an investor, in Investec.
The project, which secured planning consent earlier this year from the Welsh Government, has been appraised by engineering giant Roll-Royce as having the all the right credentials for a potential major new hub that could create thousands of high-skilled jobs.
A funding solution for the planned four platform station project in St Mellons was given a boost in the Budget last week with the Chancellor effectively committing funding support to ensure the station is delivered as quickly as possible. The development site also expected to be included in the investment zone, which will have funding of £160m to support investment from the Ƶ Government over the next decade.
However, as it stands, and unlike investment zones in England, the Welsh Government plans to keep 50% of any new business rates created in the zone, which will be overseen by the Cardiff Capital Region.
Property investment opportunities in Swansea and the £450m planned Advanced Radioisotope Technology for Health Utility Reactor – a facility designed to secure the Ƶ’s long-term supply of medical radioisotopes – in North Wales will also be pitched.
As well as the expanding compound semi-conductors cluster in South Wales, which is tracking to employ 6,000 high-skilled staff by 6,000 by 2030, the life science sector in Wales will also be showcased.
The sector generates £3.9bn annually and employs more than 13,000 people across 287 companies.
Cari-Anne Quinn, chief executive of the Life Sciences Hub Wales, said: Wales offers something distinctive – an integrated environment where life sciences innovation can be developed, tested and scaled. With an annual turnover of £3.59bn and a growing export market, we’re demonstrating how excellence in research and manufacturing, combined with supportive infrastructure creates the right conditions for businesses to grow and prosper.”
