Tag Archives: Cardiff Capital Region

Business, Business Finance, Cardiff, Employment

Cardiff Capital Region celebrates commitment to Real Living Wage

Cardiff Capital Region (CCR) is now accredited as a Real Living Wage employer by the Living Wage Foundation. The Real Living Wage accreditation formally recognises CCR’s existing commitment to fair pay and driving inclusive economic growth.

The real Living Wage is the only UK wage rate based on the cost of living. In Wales, more than a tenth of all workers (12.9%) earn less than they need to get by, with around 161,000 jobs paying less than the real Living Wage.

CCR is also a tenant in Cardiff University’s sbarc|spark, Wales’ first Living Wage building which means all tenants are obliged to pay the real Living Wage to employees and onsite contractors.

Kellie Beirne, CCR’s Chief Executive, said:

“Fair economic opportunity is central to CCR’s ambitions to foster good growth across our Region. Our accreditation as a real Living Wage employer formally recognises our long-standing commitment to ensuring fair wages within our organisation, a milestone that sets the standard for businesses across our Region.

“By transitioning to a Corporate Joint Committee, CCR has gained new powers and responsibilities as an independent public body which has made formal accreditation possible, allowing us to carve our own identity and mature as an organisation. This will lay the groundwork for us to build upon our wider vision of regional prosperity.”

Councillor Huw Thomas, Leader of Cardiff Council and Deputy Chair, CCR Committee, adds:

“I am pleased that Cardiff Capital Region has gained the real Living Wage Accreditation. Since becoming a public body earlier this year, CCR’s commitment and determination to further fairer working in our Region aligns with Cardiff Council, which was the first capital city to become a real Living Wage City in 2019.

 

“As Chair of the Cardiff Real Living Wage Steering Group and Action Team, I’m an advocate for fair wages, which keep money within our local economy. After the Steering Group was recognised as ‘Local Champions’ at the Living Wage Champions Awards ceremony this summer, I’m glad to see further progress being made to strengthen the commitment to fair pay across the City Region.”

 

Councillor John Spanswick, Leader of Bridgend County Borough Council and Portfolio Lead for Economic Inclusion said:

“This is a very welcome pivotal move by the CCR team and it augurs well for future growth across the Region. Economic inclusion is the watchword for our ambitions to be a fairer and more prosperous Region.

By shining a spotlight on this issue we are taking determined steps to support our colleagues and demonstrate how valued everyone is.”

Katherine Chapman, Director, Living Wage Foundation said: “We’re delighted that CCR has joined the movement of over 14,000 responsible employers across the UK who voluntarily commit to go further than the government minimum to make sure all their staff earn enough to live on.

“They join thousands of businesses that recognise that paying the real Living Wage is the mark of a responsible employer and they, like CCR, believe that a hard day’s work deserves a fair day’s pay.”

Business, Business Investment, Caerphilly, Cardiff

Cardiff Capital Region’s £45m investment in Ogi to boost digital connectivity for South East Wales

The £45m investment from Cardiff Capital Region (CCR) into Ogi, Wales’ biggest alternative network provider, represents CCR’s largest single investment into a company since its formation in 2017. The debt-financing package aims to develop and transform digital capabilities in villages, towns and cities across the Cardiff Capital Region, helping to reduce digital disparities and offer local communities and businesses reliable services and ultrafast connectivity.

Businesses will be positively impacted by having better reliable broadband, enabling greater productivity, cloud computing, AI and data storage. The investment is also foundational to the development of CCR’s high-tech sectors and key to ongoing developments like the Investment Zone.

One of CCR’s key priority sectors, the creative industries has already benefited from Ogi’s data connectivity capabilities, with the recent 2024 Paralympics live produced remotely at The Broadcast Centre Cymru in central Cardiff.

Ogi’s new full fibre infrastructure is bypassing old, worn-out connections and giving people working and living in the Region a new level of connectivity. The package will bring many benefits including local employment, and with 100,000 premises already on the new fibre to the premise [FTTP] network, it’s Ogi’s ambition to reach many more.

 

Wales Office Minister Nia Griffith said:

“This is a significant investment by Cardiff Capital Region, backed by the UK Government, which will be transformational for many people and businesses in south east Wales. Good digital connectivity is vital for economic growth and to enable people to access services and enjoy their leisure time.

“I’m delighted that the investment is being put into a Welsh company, Ogi, demonstrating the benefits of working together to create jobs and prosperity.”

 

Cllr Mary Ann Brocklesby, Leader of Monmouthshire County Council and Chair of Cardiff Capital Region Committee, said:

“This investment on a practical level means so much for residents and businesses who may have previously struggled with broadband connectivity. Bringing our Region quite literally up to speed will enhance not only user experience, but also encourage further opportunities and economic growth that align with CCR’s vision for an inclusive, next generation digital infrastructure.”

 

Cllr Andrew Morgan, Leader Rhondda Cynon Taf County Borough Council
and Portfolio Holder for Infrastructure and Major Projects Delivery, said:

“This major project is being delivered with the express aim of enabling our Region to compete on so many levels. I’m looking forward to the next stages of this Welsh company’s development and seeing even more of the Region benefit from the capabilities of full fibre today, in readiness for tomorrow.”

 

Ogi’s Chief Executive Officer, Ben Allwright, said:

“Right from the start, our ambition has been to become a leading Welsh telecoms company, and the last few years have certainly laid strong foundations for that goal.

“With key strategic sites like Aberthaw to the south and the heads of the valleys to the north, there’s massive potential across the capital region – and partnering with CCR at such an exciting time in their own development is the next logical step for Ogi’s growth in southeast Wales.”

Business, Cardiff, Cardiff News, Development, Investment, Investment News

Innovation Investment Capital announces multimillion-pound investment in Transcend Packaging

Innovation Investment Capital Limited Partnership (IIC), the Cardiff Capital Region (CCR) backed fund, has today announced a multimillion-pound investment into Transcend Packaging (‘Transcend’), the Ystrad Mynach headquartered sustainable packaging company. This investment round has been supplemented by additional equity from significant global corporations, including ITOCHU Corporation, one of Japan’s largest companies and a leading provider of pulp and paper products, providing further investment to the overall region.

 

Transcend is a leading innovator of environmental packaging solutions across the food service and beverage sectors. It supports a new sustainable manufacturing landscape, driven by improved recyclability and reusability legislation and net zero targets, with 290 employees, across three locations. Since launching in 2017, Transcend has successfully innovated and disrupted the traditional packaging sector, recently developing a first to market premium polyethylene-free cup, highlighting its significant ESG credentials.

 

IIC’s decision to invest was based on a variety of factors, but the commitment to expand its R&D facilities, production innovation with impressive intellectual property, strong experienced management team and blue-chip customer base all supported the decision.

 

Launched in November 2022 and backed by UK Government funds with an initial £50 million from CCR, the fund is looking to invest long-term capital in innovative, sustainable growth opportunities across the ten unitary authorities in the CCR. Capricorn Fund Managers (CFM) is the Alternative Investment Fund Manager (AIFM), responsible for managing the fund and the overall portfolio and risk management, with PwC supporting CFM in advisory matters, including investment research and sourcing. The Transcend investment is IIC’s third investment, following on from AMPLYFI (the Cardiff-based generative artificial intelligence business) and Mazuma (a Bridgend-based tech enabled accountancy platform).

 

Councillor Mary Ann Brocklesby, Chair, Cardiff Capital Region, commented: “Transcend is an exceptional local growth story that we are looking to help scale to even greater heights. Our investment, alongside other investors, will help encourage further growth and development in Ystrad Mynach and the broader Caerphilly region.”

 

Lorenzo Angelucci, Transcend CEO, added: “We are thrilled to receive this substantial investment from IIC, which underscores the confidence in our vision and strategy but also empowers us to accelerate our innovation and expand our R&D capabilities. With the support of IIC and our new investors, we will continue our disruptive journey in the sustainable packaging industry, furthering our commitment to environmental stewardship and economic growth in the Cardiff Capital Region.”

 

“In only seven years, Transcend has built one of the most innovative and sustainable packaging businesses globally. Its growth to date and future commercial partnerships positions it impressively for further growth”, said Rob Asplin, PwC Partner. “Sustainable packaging is a fast growth market and highlights the desire of the fund to support net zero propositions.”

 

Councillor Sean Morgan, Leader of Caerphilly Council, further added: “We’re delighted to have such a success story on our doorstep, bringing real economic benefits and social value to Caerphilly and beyond.  Transcend Packaging’s success is based on innovation and sustainability and the solutions they are developing here in Caerphilly will benefit the environment and communities in many countries.”

 

“Our Transcend investment fulfils much of the IIC investment criteria, not only by investing in innovative sustainability solutions, but also backing an exciting local business to scale up and encourage other international players to invest in the CCR. The benefits to Ystrad Mynach and the wider region will be felt for years to come,” concluded Lynda Stoelker, Capricorn Fund Managers’ COO and Chair of the IIC Investment Committee.

 

For further information on the Innovation Investment Capital visit http://www.innovationinvestmentcapital.com.

Business, Events

Cardiff Capital Region at UKREiiF 2024

Cardiff Capital Region (CCR) is attending UKREiiF in Leeds from 21 to 23 May to showcase £15 billion of investment opportunities and spotlight the Region as one of 12 Investment Zones selected by UK and Welsh Government last year.

UKREiiF, the UK’s Real Estate Investment and Infrastructure Forum, is a three-day conference that aims to connect people, places and businesses including the key players and decision makers within the public sector, built environment, investment and real estate markets to drive significant sustainable investment.

This year Cardiff Capital Region will be attending as one of the two sponsors of exhibitor Western Gateway, the pan-regional partnership for South Wales and Western England. The other sponsor attending is Bristol and Bath. CCR will use Western Gateway’s pavilion as a base for meetings and networking.

Attending the event for CCR is Anthony Hunt, Leader of Torfaen County Borough Council and Chair of CCR’s Committee and he said: “UKREiiF is an excellent opportunity for us to sell our Region’s competitive strengths, ambitious investment and development opportunities to key decision makers, future investors and partners. This annual event is now firmly on the calendar for investment opportunities within the UK and complements our international activities at expos such as MIPIM.”

CCR Chief Executive Kellie Beirne is speaking at several events during UKREiiF and is very positive about CCR’s participation: “Our proposition is strong and compelling with unique offers such as Aberthaw Power Station attracting more interest, I’m confident that our economic potential will continue to grow.”

Find out more about UKREiiF: https://www.ukreiif.com/

Bridgend, Caerphilly, Cardiff, Education

Cardiff Capital Region joins forces with local universities and colleges for future collaboration

Cardiff Capital Region (CCR) has signed a groundbreaking Memorandum of Understanding (MoU) with the Higher and Further Education (HE & FE) institutions from South East Wales, forming a framework for future collaboration based on key objectives for economic wellbeing in the Region.

The agreement is a first of its kind in Wales, with Cardiff University, Cardiff Metropolitan University, and the University of South Wales (USW) being joined by the Region’s Further Education colleges, including Merthyr Tydfil, Coleg Gwent, Cardiff and Vale College, Coleg Y Cymoedd and Bridgend College.

Given the concentration of academic and research excellence in South East Wales, this will ensure the wider region realises the benefits of cooperative working. Each of the institutions has a significant role to play in embracing the regional growth agenda and ensuring civic commitments to inclusivity and sustainability are at the heart of new and emerging initiatives.

Since 2017 CCR has worked successfully with regional HE & FE on transformative projects, leveraging significant research and innovation funding for the Region. This includes being the only UK Region to land two UK Research & Innovation (UKRI) Strength In Places Fund initiatives (CSConnected & Media Cymru) with a combined value of almost £100m.

This further commitment will ensure alignment on regional ambitions and create further opportunities for business engagement, collaborative learning, teaching and R&D, allowing CCR to gather the expertise that these institutions can deliver together.

Speaking at the launch, Cllr Mary Ann Brocklesby, Leader of Monmouthshire County Council, said:

“I am delighted that Higher and Further Education partners are uniting in their support of our regional ambitions. This builds on CCR’s endeavours to form a coalition of the willing, bringing together the people and organisations who can contribute to our mission for a bigger, greener and fairer region.”

Kellie Beirne, CEO, Cardiff Capital Region, said:

“This partnership demonstrates a significant coming together of educational and research institutions and a newly established regional public body, allowing us to align our efforts to advance our civic missions together. Innovation stands as the cornerstone of our future, and our joint commitment to collaborate and forge a new path provides the best chance of building sustainability and resilience in the face of ongoing change and challenge. By formalising our relationships, we lay the groundwork for regional impact and future sustainable growth and a recognition that together, we can achieve more.”

Cardiff News, Investment, Investment News

£50 million investment programme launched to help transform the Northern Valleys of South East Wales

A new investment programme aimed at catalysing economic growth and social impact in the Northern Valleys was unveiled today (11 April 2024). The Northern Valleys Initiative aims to play a long-term levelling-up role in tackling some of the intra-regional disparities that exist within the Cardiff Capital Region.

 

The Initiative, totalling £50m, has been set up by Cardiff Capital Region (CCR) and supported by Local Authority Delivery Teams from Blaenau Gwent, Bridgend, Caerphilly, Merthyr Tydfil, Rhondda Cynon Taf and Torfaen. This will support businesses and projects that have the ability to increase prosperity in the region.

 

Investments will be focused on businesses that offer high-growth potential and the ability to help transform the regional economy.

 

Operating over a five-year period, the programme will act as a financial catalyst to support businesses that are either based in the Region or that wish to relocate for the long term. Typical grants and investments available for successful applicants will range from (but are not limited to), £100k to £2m.

 

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

 

The Northern Valleys Initiative aligns with CCR’s strategic ambitions to:

 

–  tackle economic disparities and boost growth

–  enhance innovation capability and capacity

–  decarbonise our environment by 2050

–  improve our physical and digital infrastructure

 

Cllr Anthony Hunt, Chair of CCR Committee, said:

“Building on previous work in the region, the Northern Valleys Initiative will deliver an exciting opportunity to stimulate both the private and public sector investment required to generate additional jobs, boost prosperity, foster community resilience and help drive the circular economy in six local authority areas: Blaenau Gwent, Bridgend, Caerphilly, Merthyr Tydfil, Rhondda Cynon Taf and Torfaen”.

 

Welsh Secretary David TC Davies said:

“It’s fantastic news that this fund, backed by the UK Government, is going to help transform businesses in this area.

 

“We are focused on growing the economy of Wales, creating jobs and spreading prosperity, and investments like this are invaluable in making this aim a reality.”

Events, Investment, South Wales

£15 billion of investment opportunities in Cardiff Capital Region showcased at largest property exhibition in the world

INVESTMENT opportunities in Cardiff Capital Region (CCR) worth £15 billion are being showcased at MIPIM – the largest property exhibition in the world.

 

A team from CCR and its ten councils are promoting South East Wales and its investment opportunities at the event in Cannes, France from March 12 to 14.

 

Considered one of the leading global real estate events, ‘Marche International des Professionals d’Immobilier’ (MIPIM) attracts more than 26,000 participants each year, including 5,000 investors, 4,800 developers, and 500 journalists.

 

It has become a prominent event in the property and asset investment world, with representatives coming together for networking, learning, and showcasing the skills and potential of their regions.

 

A number of UK regions and major cities also attend the event at MIPIM, so competition for attracting and securing investment is high.

 

The CCR team is holding a series of events across the week, highlighting its investment opportunities, commitment to sustainable development, and its communities.

 

The £15bn worth of investment opportunities include:

  • Aberthaw Power Station eco-park
  • Bridgend town centre
  • The Northern Gateway initiative
  • Blaenau Gwent Tech Valleys project
  • Cardiff Parkway
  • Caerphilly Hotel and Leisure Park
  • St Modwen Park, Newport

 

 

Further details of the opportunities can be found here:

https://www.ccrmipim.wales/investment-opportunities/

 

Among the team attending MIPIM this week and welcoming guests to the CCR exhibition stand is CCR Ambassador Dan Biggar, former Wales and British Lions rugby player, and now playing for Toulon in the south of France.

 

Kellie Beirne, Chief Executive Officer of CCR, said: “We need to sell our region’s competitive strengths on a global stage, and seek out the investors, backers and markets that like our offer.

 

“With its strategic location, thriving economy, and ambitious development projects, CCR offers investors a compelling opportunity to be part of its growth story.”

 

Kellie said Cardiff Capital Region had demonstrated economic resilience in recent times, with sustained growth across key sectors such as finance, technology and life sciences.

 

Attendees at MIPIM from CCR include local authority leaders Councillor Anthony Hunt (Torfaen County Borough Council), Cllr Geraint Thomas (Merthyr Tydfil County Borough Council), and Cllr John Morgan, (Cabinet Member for places and regeneration, Blaenau Gwent County Borough Council).

 

Councillor Anthony Hunt, leader of CCR Cabinet which comprises the leaders of the 10 local authority partners of CCR, said: “This week presents a fantastic opportunity for us to showcase Cardiff Capital Region to a global audience at a renowned industry event.

 

“We look forward to being ambassadors for the Region and we will be working hard to ensure that our attendance will bring tangible benefits for all.

 

“With our universities, research institutions, and tech start-ups, CCR is proving a hub for entrepreneurship and innovation.

 

“Our developing technology sector, in particular, is attracting attention from investors seeking opportunities in areas such as digital innovation, cybersecurity, and renewable energy.”

Cardiff, Insurance, South Wales

Cardiff Capital Region London event showcases South Wales investment opportunities

INVESTMENT opportunities in South Wales were the focus of a London event (Monday February 26) which promoted the benefits of co-investment with the Cardiff Capital Region (CCR).

The ‘Investing in the Cardiff Capital Region’ event, part of the annual Wales Week London programme, aimed to develop the dialogue with the investment community in Wales, London, and beyond, exploring opportunities around co-investment with the CCR’s portfolio of funds such as the Innovation Investment Capital and Strategic Premises Fund, and also the soon-to-be launched Northern Valleys Initiative.

More than 85 attendees including investors and developers, heard about the competitive advantages in the Region, its cluster strategy, the creation of the new Investment Zone, and the major redevelopment of the former Aberthaw Power Station site.

The event was hosted by Baroness Wilcox of Newport, and CCR 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.

Councillor Mary Ann Brocklesby, Leader of Monmouthshire County Council and Portfolio Lead of Research and Innovation, also spoke about the importance of sustainable growth allied to innovation.

Cllr Brocklesby said: “South Wales offers so many exciting investment opportunities, and the Cardiff Capital Region is an enabler and collaborator that can help make these happen.

“We encourage investors and developers from Wales, the UK, and beyond, to talk to us about how we can work together to bring out economic and social benefits in the region.”

Wales Office Minister Fay Jones said: “The CCR has consistently been a catalyst for investment and innovation across South Wales. This event highlighted the breadth of investment opportunities that the Cardiff Capital Region provides, showing why the UK Government is proud to support its on-going work and invest in its future.”

Lucy Cohen is the co-founder and CEO of Bridgend-based online accountancy firm Mazuma, which recently received a multi-million pound investment from the Innovation Investment Capital (IIC), funded by CCR.

She spoke about what the investment meant for her firm, which is one of the leading providers of accountancy services for micro businesses in the UK, and differentiates its business through a subscription model that allows subscribers to choose from a range of accountancy packages, and benefit from its proprietary technology through MazApp®.

Lucy said: “With the addition of this new investment from IIC Mazuma will accelerate the development of its new accountancy technology solutions, expand the marketing and sales teams in Bridgend, and invest in the firm’s infrastructure and operations to support growth.

“The CCR shares our goals and vision. We can now accelerate the development of our proprietary technology, and leverage our position to pursue long-term strategic goals.”

The Mazuma investment is IIC’s second investment, with the first in being AMPLYFI, the Cardiff-based disruptive generative artificial intelligence business. To date, the fund has received more than 160 applications for funding from potential investee companies across South Wales.

Launched in November 2022 and backed by UK Government funds with an initial £50 million from CCR, the fund is looking to invest long-term capital in sustainable growth opportunities across the ten unitary authorities that comprise the CCR. Its General Partner is Capricorn Fund Managers (CFM), which is responsible for managing the fund and the overall portfolio and risk management, with PwC supporting CFM in advisory matters, including investment research and sourcing.

The ‘Investing in the Cardiff Capital Region’ event was held as part of the Wales Week in London programme which aims to highlight and showcase opportunities in the country.

Disclaimer

Capricorn Fund Managers Limited (Capricorn) is the alternative investment fund manager (AIFM) for Innovation Investment Capital (IIC) and is authorised and regulated by the Financial Conduct Authority (FRN 505252).

PricewaterhouseCoopers LLP (PwC) is authorised and regulated by the Financial Conduct Authority (FRN 221411). It is able to offer a limited range of investment services to clients (if they are an incidental part of PwC’s professional services) as it is a member of a relevant Designated Professional Body. PwC is acting on behalf of Capricorn for the provision of advisory and operational services in support of the IIC.

Any information provided by PwC in relation to the IIC is for general guidance only and does not constitute professional advice. You should not act upon any such information without obtaining professional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of such information, and, to the extent permitted by law, PwC, Capricorn and The County Council of the City and County of Cardiff on behalf of Cardiff Capital Region (“CCR”) and their respective members, employees and agents do not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on such information or for any decision based on it.

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