Investment zone programme

We are working in partnership with the UK Government to support the development of investment zones in Wales.

The programme aims to:

• strengthen key industries
• boost innovation in Wales and across the UK
• support fair work and sustainability

Each Welsh investment zone is backed by £160 million of government funding.

In 2024, the Welsh and UK governments jointly announced there will be two investment zones in Wales. This is subject to proposals meeting specific requirements and being agreed across all parties. The areas offering the most potential to host these are:

• the Cardiff and Newport Travel to Work Areas (TTWAs), delivered by the South-East Wales Corporate Joint Committee
• the Wrexham and Flintshire TTWA, delivered by the North Wales Corporate Joint Committee

We have published the methodology used to select these areas: Investment Zones place selection in Wales - GOV.UK

The corporate joint committees are developing their investment zone proposals through a thematic gateway process. The process follows five themes:

• vision setting
• sector and economic geography
• governance
• interventions
• delivery 

We have published technical guidance for the corporate joint committees: Investment Zones in Wales: technical document - GOV.UK

Wrexham and Flintshire Investment Zone

The Welsh and UK governments have approved gateways 1 to 3 of the project. This includes vision setting, sector and economic geography, and governance.

The zone is expected to: 

• attract £1 billion of private sector investment
• create 6,000 new jobs.

It will focus on advanced manufacturing and plans include 5.5 million square feet of new space for the sector. 

It will also prioritise: 

• innovation and skills
• improving transport links
• creating new opportunities and investment for communities
• growing both local and regional economies.

£1 billion north east Wales investment zone makes significant progress | GOV.WALES

Cardiff and Newport Investment Zone

The vision setting gateway has been approved. The South-East Corporate Joint Committee are currently developing their sector and geography submission. 

The Welsh Investment Zone Policy Prospectus sets out three principles for engagement between the Welsh Government and UK Government:

• Partnership: both governments playing an equal role in co-design, decision-making and overseeing the delivery of investment zones.
• Parity: the overall offer in Wales being of equivalent value to the overall offer per investment zone in England.
• Strategic fit: Welsh investment zones must align with the Welsh Government and UK Government policy frameworks, including the Innovation strategy for Wales. They must have a good fit with the regional economic and governance landscape and reflect the devolution settlement.