A country on the move

A renaissance is under way in 21st Wales, says Ieuan Wyn Jones, Deputy First Minister and Minister for the Economy and Transport

Once upon a time, coal was king. But now it is all change – with economic change mirroring rapid evolution of our national institutions.

With the steady progress of devolution – since May, the National Assembly has gained new law-making powers – Wales is growing in self-confidence.

The recent tenth anniversary of Wales’ devolution referendum coincided with record numbers in employment. The focus has switched from heavy industry towards technology, financial services and an active professional services sector.

Wales is home to one of Europe’s leading concentrations of manufacturing in the electronics, automotive and aerospace sectors. One of the country’s best-kept secrets is that every wing of every Airbus flying in the world is made in Wales, including the wings for the A380 Super Jumbo Airbus.

Bioscience, optronics, and advanced engineering are all strongly represented – and the Assembly Government is committed to pushing up the Welsh share of Research and Development.

In remaking our economy, Wales has emerged as a pioneer in land reclamation and regeneration, creating new sustainable environments for people to live, work and play.

For the last eight years, since the opening of the National Assembly for Wales, I have spent a large slice of my working life in Cardiff Bay. The Bay is already the scene of one of Europe’s largest waterfront developments – home to the celebrated Wales Millennium Centre and the National Assembly’s debating chamber.

The work continues – a new project to transform the last major derelict site in Cardiff Bay’s Inner Harbour area will create 1,000 homes and substantial commercial space, providing room for 4,000 jobs. The plans include a Life Sciences Technium – an incubator centre for fast-growth bioscience businesses.

Further west along the M4 there is SA1 Swansea Waterfront, which is reorienting the whole city – restoring its physical and visual links with the spectacular coastal backdrop of Swansea Bay. This is proving a highly attractive proposition, with private sector investment now forecast to be as high as £400 million – double the figure originally anticipated.

So far, about over £28 million of public sector funding has been put into SA1 for infrastructure, site preparation and services – including the Sail and Lock Bridges.

Already that has been overtaken by over £100 million of committed private sector investment– a high quality mixed use development that is exciting the interest of developers throughout the UK.

The new ‘One Wales’ programme of government approved by both Assembly coalition partners, Labour and Plaid Cymru, emphasises the importance of spreading prosperity to all parts of our country.

The new Môn a Menai programme offers an excellent opportunity to ensure a greater contribution to the economic prosperity of North-west Wales; is driving forward regeneration.

Meanwhile, in the South Wales Valleys, The Works – an ambitious £300 million project designed to transform the former Ebbw Vale steelworks site – entered a new phase in July with formal approval of the Masterplan.
In this era of change, a much stronger role is emerging for the private sector – not only in delivering specific projects as contractors, but in some cases leading the regeneration process.

For example, at the Llanwern steelworks site, the regeneration specialist company, St Modwen is leading a mixed use development, which will include 4,000 new homes – 20 per cent of them affordable housing – and generation of some 6,000 new jobs, nearly as many as the steelworks in its heyday.

21st Wales is a country on the move. It’s well worth your checking us out.