The Welsh Government has launched a major economic drive, confirming that £16 billion worth of investment projects will generate more than 10,000 new jobs across Wales. The announcement was made at the Wales Investment Summit, held at the ICC Wales in Newport, which attracted delegates from 27 countries.
Major Projects and Job Creation
Of the 300 firms participating in the summit, a significant 60% are not currently active in the Welsh marketplace, signalling potential for new economic relationships. The investment portfolio spans multiple sectors, from technology to energy.
The single largest commitment comes from US data centre venture Vantage Data Centers, which is planning a £10 billion investment across south Wales. A key part of this project involves transforming the former Ford engine plant in Bridgend into a major data-centre campus to meet the demands of the AI sector. While this venture is expected to account for around 5,000 of the promised jobs, the vast majority will be in construction, with approximately 500 permanent roles created at the Bridgend site.
Diverse Investment Across Key Sectors
The summit showcased a wide array of other significant investments. Vodafone is investing £600 million to bring its 5G standalone coverage in Wales to 99%, reaching two million more people.
In aerospace, GE is investing £18 million to modernise its engine testing facility at Nantgarw, which employs 1,350 highly skilled staff. Associated British Ports is committing £42 million to upgrade five Welsh ports, including a new deep-water berth in Newport.
The energy sector is also seeing substantial investment. RWE is investing £200 million in its largest battery energy storage facility in Pembroke, which will help stabilise the UK energy market. Meanwhile, Eni is committing £100 million to a carbon capture and storage project on the site of the former Point of Ayr colliery in Flintshire, creating over 1,000 jobs.
In the creative industries, Cardiff-based Bad Wolf is investing £2 million in two new high-end TV productions, generating a £30 million upside for the Welsh economy and creating 300 freelance roles.
Future Opportunities and Summit Impact
The summit, attended by the Prince of Wales, also served as a platform to pitch future projects seeking investment. These include the £400 million Global Centre of Rail Excellence in the Dulais Valley, which would be the world's first integrated testing facility for both trains and rail infrastructure.
Other opportunities presented included property investments in Swansea, the Pentre Awel scheme in Llanelli, and a prime undeveloped land site in central Cardiff's Callaghan Square. The proposed Cardiff Parkway new mainline train station was also showcased to delegates.
Welsh First Minister stated: "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."
While the summit itself has generated immediate project confirmations, the full impact on job creation may take years to fully evaluate as large-scale investment decisions often form part of wider long-term corporate strategies.
