Having been through various planning stages, the Cardiff Capital Region City Deal has now been officially backed by councils, signing off on the £1.2bn deal that will influence a string of economical benefits. As one of the largest regeneration projects to date, Vale of Glamorgan Council were the last to back the project on Thursday, making up a total of ten councils supporting this large-scale project.
Blaenau Gwent, Bridgend, Caerphilly, Cardiff, Merthyr Tydfil, Monmouthshire, Newport, Rhondda Cynon Taf, Torfaen, had already backed the deal.
Seeing £734m invested in the Metro transport scheme and £495m in other projects, the deal will bring both financial and social advantages to Cardiff, seeing it evolve into a ‘connected city’.
Vale of Glamorgan council leader Neil Moore said the city deal would inject a new lease of life into the area, happy to have added Vale of Glamorgan Council’s signature to the list.
“I now look forward to working with colleagues across the region to deliver the objectives of the compact between the ten councils, Welsh Government and the UK government.”
Locked into the deal for the next five years, it is understandable why some authorities have taken their time in confirming their backing. However, creating 25,000 new jobs and an extra £4bn in private sector investment, getting involved does boast its attractions.
Helen Molyneux, who sits on the commission, said it was vital the city region deal cash was spent “as wisely as possible”.
“The key findings are that the local authorities work together developing a long-term strategy – not quick fixes,” she told BBC Radio Wales’ Good Morning Wales.
“Skills is a massive issue. Productivity in the region is quite low compared to the national average and it’s vital that we improve people’s skills, because that is the way you improve productivity.”