Schemes get approval for investment in Cardiff Capital Region

A NUMBER of projects in Cardiff Capital Region (CCR) have been approved.

The CCR Regional Cabinet believes the series of key projects will help shape the region as one of the most investable areas in the UK.

The projects, all submitted through the Investment and Intervention Framework, will see investments ranging from initial sums totalling £215,000 to progress next steps business cases, through to a £30m commitment of City Deal funding for a Housing Investment Fund, and £1.5m to scale up the CCR graduate programme.

As part of a plan to enhance region-wide digital connectivity needed to optimise economic growth, a Fibre Provision Programme aims to bring the benefits of fibre connectivity to 330,000 premises in core CCR towns and settlements. An initial £35k was released by the City Deal to begin an early business case.

Funding for design requirements for advancement of Metro Central was also agreed, with £4m approved towards the £10m cost of finalising design work and technical specification for its development.

The Framework, launched by the

Economic Growth Partnership, focuses on the region’s three priorities – innovation, infrastructure and challenge. The will look to enable maximum leverage of the £495m the CCR City Deal has available for investment. It is anticipated the decisions made this week will result in a further £900m of private sector capital being invested into the region through the approved schemes.