A recently announced investment zone is to focus on further strengthening the globally recognised CSconnected semiconductor cluster based in and around South Wales.
Welsh Government Economy Minister Vaughan Gething recommended that Wales should be home to two of the twelve investment zones across the UK and that the South Wales zone should focus on strengthening the CSconnected semiconductor cluster.
In his Autumn Statement, Chancellor of the Exchequer Jeremy Hunt confirmed the go ahead for the £160M investment zone for semiconductors in South Wales.
Investment zones form part of the UK’s levelling up strategy to focus on a small number of high-potential clusters linked to strong research, innovation and manufacturing capabilities.
The South Wales semiconductor cluster is recognised as a key capability that will provide a path to stronger economic growth in Wales and the UK as a whole.
Chris Meadows, Director, CSconnected, said,
“Semiconductors represent one of the world’s largest and fastest growing industry sectors. Our dependence on semiconductors became abundantly clear during the COVID pandemic when demand for technologies enabled by our sector created severe shortages across many end markets.
“Specialising in compound semiconductor technologies, Wales plays a key role within this essential industry sector that is at the heart of our digital world from handsets to data centres, mobility and net-zero applications, healthcare, robotics and AI.”
Wyn Meredith, Chair of the Management Group, CSconnected said:
“We look forward to continuing working closely with the Welsh Government and Cardiff Capital Region to design the Investment Zone interventions that will accelerate growth in prosperity, talent and economic value from our thriving semiconductor sector across our region and beyond….”
“CSconnected looks forward to continuing working closely with the Welsh Government and Cardiff Capital Region to deliver growth in prosperity, talent and value from our thriving semiconductor sector across our region and beyond.”
