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City Deal takes significant step forward

12 November 2015

City Region landcape

Vice-Chancellor welcomes submission by Cardiff Capital Region leaders to UK Government

Vice-Chancellor Professor Colin Riordan has warmly welcomed a significant step forward in efforts to secure a City Deal for Cardiff Capital Region.

The Cardiff Capital Region leaders, comprising the leaders of the 10 local authorities in south east Wales, have submitted an outline of their proposals for a City Deal to the UK Government ahead of the Comprehensive Spending Review.

The submission has been boosted by an agreement from the Welsh Government to contribute £580m towards a City Deal proposal worth up to £1.28bn.

Professor Riordan said: “Cardiff University takes its role as a driver of economic and social prosperity very seriously so I wholeheartedly welcome this bid, which has the potential to bring transformative change to south east Wales.

“While improved connectivity is the number one priority, we must also work together to encourage the innovation and economic development required for our region to flourish.

“This University aims to play a major role in creating such a climate, not least through our £300m innovation campus which seeks to connect industry, business, and government with our academics, and our City Region Exchange engagement project which will provide advice, training and other services across Cardiff Capital Region.”

The City Deal will require close working with UK Government, Welsh Government and the private sector. 

The £580m would support the establishment of a Cardiff Capital Region Fund, aimed at delivering major strategic transport connectivity projects.

The Welsh Government contribution will enable Cardiff Capital Region leaders to deliver a City Deal of a scale that aims to make a real difference to the south east Wales economy.

The leaders believe a City Deal for the Cardiff Capital Region represents a unique opportunity to transform the local economy to improve local productivity, create new jobs and reduce worklessness.  

Overall, the deal will be looking to support investment in areas including business and regeneration, innovation, digital and skills, with an investment in infrastructure across south Wales that will improve opportunities for all communities in the region.

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