City deal investment is revealed to Cabinet Members

Newport Wafer Fab

Almost a year after the historic signing to support the world’s first compound semiconductor cluster in South-East Wales, Cardiff Capital Region Cabinet members were shown how the City Deal funding has been invested.

The 10 council leaders of the CCR held one of their regular formal meetings at Newport Wafer Fab (NWF) where they also learnt about the compound semiconductor Foundry in Newport – CS Connected – and the opportunities it will present for the South-East Wales region, and how their investment has been used. Afterwards, a tour of the nearby Foundry showed the progress that has been made.

Last May, the Regional Cabinet agreed to contribute £38.5 million from the CCR City Deal’s Wider Investment Fund towards the establishment by IQE plc of a major, cutting edge facility, as an anchor in the region for high end production of compound semiconductors.

The signing was the first such investment since the £1.2 billion CCR City Deal programme was formally signed on March 1, 2017.

The aim is to support the development of CS Connected – a compound semiconductor industrial cluster in the region – with the potential to leverage £375m of private sector investment, create up to 2,000 high skilled jobs, return the investment for use on other regional schemes, and create hundreds more jobs in the wider supply chain cluster.

Newport Wafer Fab is the chip Foundry of the CS Cluster, providing a fast, agile semiconductor production service in a high technology campus, and is the UK’s largest semiconductor centre.

Sam Evans, Director of External Affairs said:

“The CS connected companies will be critical to CCR’s macro economy ambitions. The Capital Region’s strategic support is a key component in establishing SE Wales as the world’s first compound semiconductor cluster.

“This CS technology will power many of the next generation advances such as 5G and the IoT (internet of things). We are delighted to be hosting the CCR Cabinet meeting at Newport Wafer.”

Pictured above: Councillor Andrew Morgan, Leader of RCT and CCR Chair; Dr Drew Nelson, founder and CEO of IQE plc; Sam Evans, Director of External Affairs for NWF.