Investment flows into Newport as it gets marked for rapid economic growth

Newport is a city and unitary area in Wales, about 12 miles east of Cardiff and the largest urban area within the Monmouthshire and Gwent counties.  The city, under jurisdiction of the city council, has a population of 140,200, making it the seventh most populous unitary authority in Wales. However, independent data from a 2001 census has placed the population of the core built up area at 116,143; that makes it the third most populous city in Wales.

 

It ranks seventh out of 100 UK cities for robust economic growth to 2020 in the Experian Global Economic Forecasting Report and third in the Lambert Smith Hampton’s study of office locations outside of London. The LSH performance index provides an indication of 28 centers around UK using key location criteria weighed according to their significance to occupiers.

 

There are six junctions on the M4 motorway serving the city’s major business parks and it’s only about two hours from Heathrow Airport. Its port handles up to 40,000 tonnes and the Newport Transporter Bridge is one of the only six transporter bridges in the world.  About 1.6 million of the city’s residents live within an hours drive giving it a big and readily available labor catchment.

 

The civil service is the biggest employer in the city with organizations such as the Passport Office for much of the south and west UK, Charity commission, British Red Cross; Office for National Statistics, UK Intellectual Property Office, Panasonic Manufacturing and the International Rectifier based in the city or has headquartered here.

 

The Sims group has invested heavily in its facilities in Newport, creating the UK’s modern metals recycling and export plant and has constructed the largest and most technically advanced waste electrical and electronic equipment (WEEE) recycling plants at the port. Recent companies that have relocated their investments into the city include Admiral, Yell.com, Wales and West Utilities, Quinn Radiators, HM Prison Services Shared Center, Kingslegal, EADS amongst others.

 

The city council welcomed the news of the start of work on a £1 billion regeneration of the former Llanwern steelworks that includes housing and a major, new business park proposed by the St Modwen Company.

 

 

The city council has a range of services that are geared towards encouraging investments in the city. For instance, information and advice is readily available on doing business in the city and other than that, there are grants that investors can apply for, generally up to £5000, applicable to businesses in all sectors of the economy.

 

May 25, 2010.