The Capital Connection Contents

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CARDIFF THE CAPITAL CONNECTION CONTENTS

2 | CARDIFF - THE CAPITAL CONNECTION Page

1 Welcome to Cardiff 4

2 Deloitte in Cardiff 6

3 Introduction 8

4 Overview 10

5 The Capital Difference 12

6 Fast Growing Capital 14

7 The Workforce 16

8 Universities 22

9 Industry Strengths 28

10 Infrastructure 38

11 Cost Comparison 40

12 Financial Support 44

13 Useful Websites 46

The purpose of the guide is to provide information to help recipients make their own judgements about making business decisions as to whether to invest or operate in a particular city. The report’s contents were believed (at the time that the report was prepared) to be reliable, but no representations or warranties, express or implied, are made or given by Cardiff Council and Deloitte LLP as to the accuracy of the Report, its completeness or its suitability for any purpose. In particular, none of the Report’s contents should be construed as advice or solicitation to purchase or sell securities, commodities or any other forms of ﬁnancial instrument. No liability is accepted by Cardiff Council or Deloitte LLP for any loss or damage (whether con- sequential or otherwise) which may arise out of or in connection with this Report.

CARDIFF - THE CAPITAL CONNECTION | 3 1 WELCOME TO CARDIFF

4 | CARDIFF - THE CAPITAL CONNECTION Over the past 20 years Cardiff 20 years. Despite its growth, has transformed itself into a the city remains a competitive thriving and vibrant city with location for investors and, with a some of the best cultural and ‘Team Cardiff’ approach between recreational infrastructure of the City Council, the Cardiff all the UK’s cities. Following Business Council and the Welsh significant investment in Cardiff, Government, support for investors including the redevelopment of is always on hand. Cardiff Bay, the city centre and the Wales Millennium Centre, the The city’s vision is now to build on city has grown as a destination for this growth and development of leisure, culture and retail, hosting Cardiff’s business infrastructure. the Rugby World Cup, FA Cup Whilst the city has seen growth Finals and Ashes test matches, in employment across a with close to 20 million people number of sectors, there is still now visiting the city and annually significant capacity to build on spending £1 billion. the competitive business services and creative sectors. With high Over the next 15 years it is the numbers of graduates and a world’s middleweight cities, steady supply of skilled workers like Cardiff, that will be driving from across the city-region, forward economic growth. Cardiff already has in place the Analysis by the McKinsey Global building blocks to be one of the Institute highlights that in 2007, UK’s most competitive cities, and cities with a population of over the next 20 years the city between 200,000 and 2,000,000 aims to put in place development were home to 7% of the world’s that will help Cardiff to become population. However, this group one of the most competitive in is expected to contribute almost the UK in terms of its business a fifth of total economic growth offer. Investment in the city’s up to 2025, more than twice the transport infrastructure, linking expected contribution based with the surrounding areas in on population numbers alone. the city-region, will strengthen Cardiff, as a city that is primed for the labour market and improve growth, will be at the forefront of quality of life across South Wales. the middleweight city revolution. Key investment in the business infrastructure, including a new The data already shows that regenerated Central Square, and Cardiff is growing faster than the development of the Enterprise other cities in the UK, supported Zone will create a world-class by a skilled and competitive business environment. These workforce, the best quality developments will complement of life of any UK city, and big the city’s reputation as a great investment in the city’s business place to live, providing the quality infrastructure. It is no surprise jobs and opportunities for the therefore, that Cardiff is expected city region that will make Cardiff to continue growing faster than one of Europe’s top quality of life any other UK city over the next capitals. Cllr Phil Bale, Leader, Cardiff Council

CARDIFF - THE CAPITAL CONNECTION | 5 Deloitte is delighted to be associated with this guide to investing in Deloitte Cardiff Delivery Centre Cardiff which we hope you will fi nd interesting and informative. In addition to our long standing core client services, The origins of Deloitte in Cardiff go Deloitte has been developing back by more than 100 years to a time centralised business operations when Wales was a major international in Cardiff since 2006. This producer of coal and steel and home began with a small team to the largest shipping line in the helping assure that some of world. Many new entrepreneurial our compliance obligations businesses were established in this were met for a defi ned part of area and many of those continue our business. The results of to this day. The last 30 years in this work were very successful, particular has witnessed a change leading to an expansion to in the economy of both Cardiff and the rest of the business and Wales. Coal extraction and some replication of the business manufacturing have declined but model to other functions. We what has emerged is a strong service have found that Cardiff off ers sector and a value-added driven us a capable, loyal, stable and economy. In the 21st century Cardiff is dedicated workforce that proud of its history and looks forward delivers work of a high quality. with hope to its future. We have therefore decided to incorporate the centralisation Deloitte is proud to have supported of more work in Cardiff as an many of Wales’ leading businesses enabler in our strategic growth during this time and we will continue plan with the creation of the to play our part in the evolution of Cardiff Delivery Centre. this vibrant economy, providing thought leadership and commercial Our fi ve year plan, announced guidance. Our aim is to drive in January 2015, is to create excellence in Wales by connecting, an additional 700 jobs. The engaging and informing. new jobs to be created are as a result of demand amongst, for Our Cardiff offi ces are situated three example, the banks, fi nancial minutes from Cardiff Central station. institutions and life sciences We provide the full range of services industries for services related off ered by professional services to governance, risk and fi rms and we also support the compliance. This centre will quality and risk operations for the incorporate existing teams and UK fi rm. We are continuing to invest add others which will deliver and grow our presence in Cardiff an increasing range of work, with a current workforce of just over largely in direct support of 300 people and signifi cant plans to deliverables and innovative expand further in the near future. off erings for our clients. Wayne Harvey | Senior Partner | Deloitte LLP

6 | CARDIFF - THE CAPITAL CONNECTION 2 DELOITTE IN CARDIFF

CARDIFF - THE CAPITAL CONNECTION | 7 Cardiff is one of the UK Core Cities1 and is the capital of Wales. With a population of 351,700 it is the largest city in Wales and the ninth largest city in the United Kingdom2. It lies at the heart of the Cardiff Capital Region3, which is home to 1.5 million people. The city is also one of the fastest growing in the UK, with faster job growth than any of the UK Core Cities between 2000 and 20104. In addition to large increases in population and jobs, Cardiff has also seen a signiﬁ cant increase in the number of visitors. This has resulted in an increase in visitor spend of over £400 million a year in the past ﬁ ve years to over £1 billion in 2013.

Leeds

Manchester Liverpool

200km Sheffield

Nottingham

Birmingham

100km

GREATWESTERN M25 Bristol MAINLINE

M4 London Cardiff

Source: Cardiff Council / Google Maps

Cardiff is just two hours away from the centre of London by rail or road, with easy access to the country’s other important business centres. Cardiff Airport has direct fl ights to a number of cities across Europe, with fl ights to destinations across the globe through regular scheduled fl ights via Amsterdam and Dublin. Located on the M4, Cardiff has convenient connections to Heathrow which is a two hour drive from the city.

1There are ten Core Cities in the UK that are the economically largest areas in England, Scotland and Wales outside of London. 2ONS 2013 mid-year population estimates 3The Cardiff City Region consists of the local authorities of Bridgend, Vale of Glamorgan, Rhondda, Cynon, Taff , Merthyr Tydﬁ l, Caerphilly, Blaenau Gwent, Torfaen, Monmouthshire, Newport and Cardiff . 4ONS mid-year population estimates

8 | CARDIFF - THE CAPITAL CONNECTION 3 OVERVIEW

CARDIFF - THE CAPITAL CONNECTION | 9 4 THE CAPITAL DIFFERENCE

10 | CARDIFF - THE CAPITAL CONNECTION As the capital city of Wales, companies and staff based in Cardiff have access to a number of national institutions on their door step. In 1997 the people of Wales voted in favour of establishing a National Assembly which came into force in 1999. The National Assembly for Wales meets in Cardiff and takes decisions affecting the city and the rest of Wales.

Investors in Cardiff are able to deal directly with national and city government leaders, meaning quick decisions can be made, and a support package through the ‘Team Cardiff’ approach means that all local partners are working together to support investment, regeneration and development.

Support is provided by the Cardiff Business Council, a business-led organisation set up to grow Cardiff’s private sector by marketing and promoting the Cardiff Capital Region as a world-class destination for business investment and tourism. Cardiff Business Council also acts as the primary link between the City of Cardiff Council and the local business community, be they inward investors or indigenous businesses. Cardiff is also the commercial, cultural and retail centre for Wales, and is the focal point for business activity. As the home of the Millennium Stadium - which with a capacity of 75,000 and a retractable roof is Europe’s largest indoor arena - and the Millennium Centre – one of the UK’s leading arts and cultural venues, Cardiff is also the place where Wales’ major events take place, from international rugby and football, to the Welsh National Opera.

CARDIFF - THE CAPITAL CONNECTION | 11 The population of Cardiff has grown by 4.1% in the last ﬁve years5 compared to a national average of 3% and the city’s growth is expected to continue. Analysis of Welsh Government projections, and National Statistics population forecasts (using 2011 mid-year population estimates for Wales, and 2012 mid-year estimated for England) show that Cardiff is due to grow faster over the next 20 years than any of the other UK Core Cities, and even faster than London. The city’s Local Development Plan is to accommodate an additional 41,000 new homes, and 40,000 new jobs up to 2026. This growth is just that within the local authority – the wider city region is also due to grow and will support the development of Cardiff as the centre of commerce, culture and government in Wales.

20 year Projected Population Growth 2014 - 2034

30%

25%

20%

15%

10%

5% Source: Welsh Government mid-2011 based population projections; National Statistics mid-2012 based population projections 0%

Investment in infrastructure is also forecast to drive future growth, supporting the city’s Local Development Plan and the development of the city-region. This includes £1 billion of investment in the region’s transport infrastructure as part of the development of a new metro for Cardiff. This investment is predicted to result in a large fall in journey times and a big increase in frequency of rail and light rail that will bring the city-regions population and labour force even closer to Cardiff city- centre. Investment in the Great Western Mainline, including a direct link to Heathrow, will see travel time to London fall to less than 100 minutes.

5ONS mid-year population estimates.

12 | CARDIFF - THE CAPITAL CONNECTION 5 FAST GROWING CAPITAL

The city’s growth plan is supported by its graduate workforce, accessibility, leading universities, competitive cost for salaries and property and the best quality of life of any UK city6. Cardiff is a popular university destination and many students stay on in the city – this is reﬂected in the higher than average population age bands between 15 and 39. Recent investment, including the expansion of Deloitte’s Cardiff operation, the BBC’s new HQ in Central Square, and leading cyber security specialists Alert Logic decision to locate its European HQ in the city reﬂect the current status of the city as an increasing popular destination for businesses.

Cardiff Population Pyramid 2014

Source: ONS mid-year population Aged 85 and over estimates UK Female Aged 80 - 84 years Cardiff Female UK Male Aged 75 - 79 years Cardiff Male Aged 70 - 74 years

Aged 65 - 69 years

Aged 60 - 64 years

Aged 55 - 59 years

Aged 50 - 54 years

Aged 45 - 49 years

Aged 40 - 44 years

Aged 35 - 39 years

Aged 30 - 34 years

Aged 25 - 29 years

Aged 20 - 24 years

Aged 15 - 19 years

Aged 10 - 14 years

Aged 5 - 9 years

Aged 1 - 4 years

Aged under 1 year

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Cardiff has also seen a marked increase in tourism in recent years, res- ulting in visitor expenditure of over £1 billion per annum, and 18.9 million visitors annually. The city boasts a range of attractions for visitors, from its city centre retail offer, to the Millennium Stadium and Cardiff Castle in the city centre, as well as Cardiff Bay, one of Europe’s largest waterfront regeneration developments.

62014 data on “Employment by occupation“ from ONS reveals that 49.9% of the Cardiff workforce are employed in Soc 2010 groups 1-3 (managers, professionals & associate professionals) compared with a national average of 44.3%.

CARDIFF - THE CAPITAL CONNECTION | 13 6 THE WORKFORCE

14 | CARDIFF - THE CAPITAL CONNECTION Size of the workforce The Cardiff city-region is home to 1.5 million people, with over 350,000 living in the central local authority. Almost half of Wales’ total population live within the city region, whilst a total of 1.6 million live within a 45 minute drive of the centre. Within the city-region there is a total working age population of over 950,000 people.

Population Data Total population Aged 16 - 64 Number Number % Cardiff 351,700 239,200 68.0% City-Region 1,493,600 955,000 63.9% Wales 3,082,400 1,926,600 62.5% United Kingdom 64,105,700 40,915,200 63.8%

Source: ONS mid-year population estimates

Census 2011 Drive Time Area – Cardiff City Centre

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Cwmbran Chepstow Swansea Port Maesteg Porth Risca Tal bot Pontypridd Thornbury Caldicot Caerphilly Newport

Llantrisant Pyle Bridgend Rumney Filton Porthcawl City Centre " Cardiff Portishead Caerau Cowbridge Bristol Clevedon Penarth Dinas Powys Nailsea Llantwit Major Keynsham Barry

Ba Source: Arup

CARDIFF - THE CAPITAL CONNECTION | 15 Skilled workforce Cardiff off ers one of the highest Workforce skills – Core City com- graduate workforce percentages parisons 2013 outside London, with 38.6% of the working age population with % with degree or equivalent a qualiﬁ cation at NVQ4 or above and above - and almost 50% of the workforce aged 16-64 is employed in professional or managerial roles7. Bristol 42.8 Manchester 38.8 Job satisfaction in Cardiff is also very high, as outlined in a Cardiff Cardiff 38.6 University survey8 of the city’s Sheffi eld 35.9 leading businesses, where 95% Great Britain 35.2 of staff surveyed said they want to keep working in Cardiff for Leeds 35.1 the immediate future. Half of Newcastle upon Tyne 34.6 all respondents also noted that they would like to work for their Nottingham 29.3 current employer, in a more senior Liverpool 27.2 position, in 15 years’ time. Birmingham 25.8

Workforce skills – Core City comparisons 2013

Language skills Cardiff is a cosmopolitan city, and for 200 years has welcomed workers from across the globe. Today the city is home to over a hundred diff erent nationalities, with a broad range of language skills. In addition Cardiff is a popular destination for international students, with over a quarter of the city’s students hailing from outside the UK9, and companies have a good experience of recruiting business language expertise. The 2011 census shows that in addition to English and Welsh the people in Cardiff consider a number of other languages to be their main language: đƫƫƫƫ.!* $Čƫ,*%/$Čƫ+(%/$ƫ* ƫ+0$!.ƫ1.+,!*ƫ(*#1#!/čƫƫ ĉČĈĀĀ đƫƫƫƫ.% ƫ* ƫ+0$!.ƫ/%*ƫ(*#1#!/čƫƫ ƫ ƫ āćČĀĀĀ

7ONS annual population survey. 8‘Cardiff Employee Survey’ Cardiff Business School and Cardiff Business Partnership 9‘Cardiff : Knowledge Ecology and Economy’ Robert Huggins and Piers Thompson, A Report to Cardiff Council through the Know Cities project.

16 | CARDIFF - THE CAPITAL CONNECTION CARDIFF - THE CAPITAL CONNECTION | 17 18 | CARDIFF - THE CAPITAL CONNECTION Quality of Life Quality of life is one of the big competitive advantages of Cardiff. It is consistently recognised as one of the best cities to live in by residents, and in the latest EU Urban Audit Perceptions survey Cardiff was voted the number 1 city in the UK for quality of life. The city also ranked highly on a range of other indicators:

The 2013 EU Urban Audit Perception Survey by the European Commission ranked Cardiff as: x UK’s number 1 city for quality of life according to residents x Best UK city for sports facilities x 6th best city in Europe for cultural facilities x Best UK city in terms of quality of public space x Best UK city for retail, and top ten in Europe Quality of Life Rankings 2014 Rank UK 12 largest cities 2014 Rank UK 12 largest cities 1 Cardiff 7 Edinburgh 2 Belfast 8 Manchester 3 Bradford 9 Sheffield 4 London 10 Glasgow 5 Bristol 11 Liverpool 6 Leeds 12 Birmingham Source: Moneysupermarket.com 2014 Annual Quality of Living Index

Cardiff also ranked ﬁrst in Moneysupermarket.com’s quality of life survey, which scored the 12 biggest cities in the UK in terms of: đƫƫƫƫ+1/!ƫ,.% !ƫ#.+30$ƫ đƫƫƫƫ$!ƫ +/0ƫ+"ƫ.!*0%*#ƫ đƫƫƫƫ2!.#!ƫ/(.%!/ƫ đƫƫƫƫ*!),(+5)!*0ƫ đƫƫƫƫ!*!.(ƫ(%"!ƫ/0%/" 0%+* A recent survey undertaken by Legal & General also showed Cardiff as the best UK city for young adults because of its low cost of living, and good job opportunities10. The city is also safe, and across a range of indicators measuring crime, is ranking as the safest urban area in the UK. The UK Peace Index 2013 compared all areas of the UK, including the major urban areas, using a composite of key crime statistics.

Police Force Area Major Urban Area Overall Rank South Wales Cardiff 1 South Yorkshire Sheffield 2 Nottinghamshire Nottingham 3 West Yorkshire Leeds 4 Merseyside Liverpool 5 Greater Manchester Manchester 6 West Midlands Birmingham 7 District A & B Belfast 8 Metropolitan Police London 9 Strathclyde Glasgow 10 Source: UK Peace Index

10Legal & General Best City to be Young report - 2013.

CARDIFF - THE CAPITAL CONNECTION | 19 Cardiff is home to three major higher education institutions: Cardiff University, Cardiff Metropolitan University and the University of South Wales. In total there are around 75,000 students in the city-region, around half of all university students in Wales. Higher education in Cardiff also attracts talent from around the world, with over a quarter of all students being international students.

Universities in Cardiff City-Region 2012/13 Total students Cardiff University 30,060 Cardiff Metropolitan University 12,440 The University of South Wales 32,130 Source: ‘Students in Higher Education Institutions 2012/13’ HESA

University proﬁles Cardiff University has a strong reputation for the quality of its teaching and research and it is a member of the Russell group of leading research universities. There are around 30,000 students, including more than 3,000 from over 100 countries outside the UK, helping to create a vibrant, cosmopolitan community.

Ranked 6th in the recent Research Excellence Framework (REF), Cardiff University broke into the “Golden Triangle” of Oxford, Cambridge and London and conﬁrmed its place as a world-leading university. Key results of the REF for Cardiff University include: đƫƫƫƫĆ0$ƫ1*%2!./%05ƫ*0%+*((5ƫ+*ƫ.*'%*#/ƫ/! ƫ+*ƫ.!/!. $ƫ%), 0 đƫƫƫƫĂ* ƫ*0%+*((5ƫ+*ƫ.*'%*#/ƫ/! ƫ+*ƫ%), 0 đƫƫƫƫĆƫ+10ƫ+"ƫĂĈƫ !)% ƫ %/ %,(%*!/ƫ.!ƫü./0ƫ+*ƫ%), 0ċƫƫ$!/!ƫ.!ƫ Architecture, Built Environment and Planning; Civil and Construction Engineering; Communication, Cultural and Media Studies; General Engineering; Modern Languages and Linguistics đƫƫƫƫćƫ+10ƫ+"ƫĂĈƫ !)% ƫ %/ %,(%*!/ƫ.!ƫ%*ƫ0$!ƫ0+,ƫĆƫ+*ƫ-1(%05ċƫƫ$!/!ƫ are Civil and Construction Engineering (1st in UK); Psychology, Psychiatry and Neuroscience (2nd in UK); Communication, Cultural and Media Studies (2nd in UK); Sociology (3rd in UK); Allied Health (joint 4th in UK); Education (joint 5th in UK) đƫƫƫƫĉĈŌƫ+"ƫ.!/!. $ƫ//!//! ƫ/ƫ3+.( ġ(! %*#ƫ+.ƫ%*0!.*0%+*((5ƫ!4 !((!*0

20 | CARDIFF - THE CAPITAL CONNECTION 7 UNIVERSITIES

CARDIFF - THE CAPITAL CONNECTION | 21 22 | CARDIFF - THE CAPITAL CONNECTION 2014 Research Excellence Framework (REF) table of excellence Rank 2014 Rank 2008 Institution GPA 1 1 Institute of Cancer Research 3.40 2 6 Imperial College London 3.36 3 =4 London School of Economics 3.35 4 =4 University of Oxford 3.34 5 2 University of Cambridge 3.33 6 =22 Cardiff University 3.27 7 =22 King’s College London 3.23 =8 7 University College London 3.22 =8 9 University of Warwick 3.22 10 3 London School of Hygiene and Tropical Medicine 3.20 Source: Hefce; GPA (Grade Point Average) calculation by Times Higher Education

2014 Research Excellence Framework (REF) top ten by impact

Rank 2014 Institution GPA 1 Institute of Cancer Research 3.87 2 London School of Hygiene and Tropical Medicine 3.74 3 Imperial College London 3.68 4 St. George’s, University of London 3.64 5 Cardiff University 3.61 6 Liverpool School of Tropical Medicine 3.57 7 University College London 3.54 8 King’s College London 3.52 9 University of Oxford 3.51 =10 University of Bristol 3.50 =10 London School of Economics 3.50 Source: Hefce; GPA (Grade Point Average) calculation by Times Higher Education

Cardiff Business School has a close relationship with businesses in the city, including its collaboration with Legal & General, which has led to Cardiff developing the largest cluster of medical underwriters in the UK. Cardiff University’s Business School has also collaborated with OSTC to develop a Cardiff Trading Room to support the development of traders. In addition the Business School also has an Islamic Banking and Finance Centre of Excellence.

CARDIFF - THE CAPITAL CONNECTION | 23 Cardiff Metropolitan University In the recent Research Excellence (formerly University of Wales Framework results, Cardiff Metropolitan Institute, Cardiff) is a leading new University was ranked as the highest university mainly due to its career- post-1992 ‘modern’ university in 41st orientated courses that make place, with 80% of the University’s graduates popular with employers. overall quality profile rated as ‘world For the fourth year running, the leading’ (4*) or ‘internationally excellent’ university was ranked overall top (3*). For impact, the proportion rated in the UK for international student as 3* or 4* is even better at 83%. satisfaction in the latest International Student Barometer. It’s also a top The University of South Wales sporting university with first-class was formed in April 2013 following facilities and a proud tradition of a merger between the University competition – and success with the of Glamorgan and the University largest School of Sport of any UK of Wales, Newport. The university university. has campuses in Cardiff, Newport and the South Wales Valleys. Its Cardiff Metropolitan is a growing 33,000 students place it in the top university, with business and ten largest campus universities and management a key strength. it attracts a cosmopolitan mix of In total Cardiff Metropolitan’s students from 122 countries and specialisms are focussed around all backgrounds. It delivers the its five schools, namely Cardiff full range of Stem subjects, from School of Art & Design, the Cardiff engineering and mathematics to School of Education, the Cardiff computing and surveying, and is School of Health Sciences, the an experienced provider of teacher Cardiff School of Management and training courses. Cardiff School of Sport. In addition, the National Centre for Product The University of South Wales has Design and Development Research recently launched its Centre for (PDR) provides expertise in design Financial and Professional Services and innovation, offering support in Cardiff, working with the Welsh from research to manufacturing Government to meet Cardiff’s businesses. PDR has worked demand for skills in the financial and with several leading aerospace professional services sector. companies in Wales and is well known for its pioneering work in The University is also a major maxillofacial surgery. research university in Wales, with specialisms in the creative industries, The University won the ‘student sustainable energy, and mobile experience’ award from Times communications. In the 2014 Higher Education in November 2014 Research Excellence Framework and was categorised as ‘first-class’ results, the University of South Wales in a UK-universities sustainability doubled its amount of research assessment. Through independent rated as world leading. Half of its student-employability surveys, 94% research is regarded as world leading of Cardiff Met graduates are in or internationally excellent standard employment-or-further-study within providing practical solutions for six months of graduation. culture, society and the economy.

24 | CARDIFF - THE CAPITAL CONNECTION CARDIFF - THE CAPITAL CONNECTION | 25 8 INDUSTRY STRENGTHS

26 | CARDIFF - THE CAPITAL CONNECTION In the early 1900s, Cardiff was a major base for the coal industry, its docks were the world’s largest exporter and the city’s Coal Exchange set the world price. In recent times, however, Cardiff’s economy has become more diverse and heavy industry has given way to service and knowledge driven sectors. Supported by a large and skilled labour market, the city is now one of the most competitive locations in the UK for skilled service sector businesses. The city is also home to an advanced manufacturing sector, linking with Universities delivering world-class research.

Today, around 200,000 people are employed in the city and over 600,000 in the wider city region. Of this over 50,000 people in Cardiff and over 100,000 in the city-region are employed in ﬁnancial and professional services. The city also employs over 20,000 people in education, and almost 30,000 in healthcare. A growing creative cluster is home to around 10,000 people in the city, and over 25,000 in the city-region. Employment by Sector 2013 Cardiff City Region Primary industries and utilities 4,600 11,600 Manufacturing 8,800 68,700 Construction 8,000 26,200 Wholesale and retail 30,100 94,700 Transport & storage (inc postal) 5,400 19,200 Accommodation & food services 14,500 40,000 Finance, business and communication 53,000 112,500 Public administration, education and health 64,300 205,800 Arts, entertainment, recreation & other services 10,000 25,900 Source: Business Register and Employment Survey

The key sectors in the city - with both signiﬁcant clusters of activity and capacity for growth – include:

đƫƫƫƫ%** %(ƫ* ƫ1/%*!//ƫ!.2% !/ đƫƫƫƫ.!0%2!ƫ * 1/0.%!/ đƫƫƫƫ %"!ƫ %!* !/ƫ đƫƫƫƫ 2* ! ƫ *1" 01.%*# These sectors beneﬁt from Cardiff Council and the Welsh Government support, as well as beneﬁting from a workforce stemming from the city’s universities.

CARDIFF - THE CAPITAL CONNECTION | 27 FINANCIAL AND BUSINESS SERVICES

Cardiff’s financial and business In comparison with the UK’s Core services sector is rooted in its đƫƫƫƫ2!.ƫĆĀČĀĀĀƫ,!+,(!ƫ%*ƫ Cities, Cardiff has a broad range growth as a centre of the world’s employment of businesses within the financial coal trade. Throughout the 19th đƫƫƫƫ%** %(ƫ* ƫ%*/1.* !ƫ services sector with employment century Cardiff became prominent activities, real estate spread across a range of different as a coal port, culminating in 1913, activities and business operations, from insurance when over 10 million tonnes of coal service activities now to banking to risk evaluation. were exported, making Cardiff account for £4 billion of Employment in insurance is the biggest coal exporting port output – around 40% of total significantly above the UK in the world. At that time the output average, with the proportion of world’s price for Coal was set in people employed in life insurance the city’s Coal Exchange, while the đƫƫƫƫ* $+./ƫ* ƫ **+20+./ƫġƫ seven times greater than the UK individuals and firms operating in Admiral & Go-Compare average. the Coal Exchange helped develop đƫƫƫƫ *ƫĂĀāĂČƫ ƫ%*ƫ0$!ƫü** %(ƫ new markets for the coal, and and professional services established the city’s first cluster sector in Cardiff increased Location Quotients for Cardiff of financial services expertise. by a massive 83% in the year, Financial Services Sector This role as a centre for shipping bucking UK trends13. (1=UK average employment and commerce meant that đƫƫƫƫ .+//ƫ(!/ƫ)+.!ƫ0$*ƫ percentage) Cardiff developed as a centre for 135,000 people work in the international finance and business, financial and professional Life insurance 7.0 a legacy that has continued services sector, and this throughout the city’s history. number is set to grow to Non-life insurance 5.0 200,000 by 202114 Combined facilities support 3.8 Today the Financial and activities Business Services sector in the Legal activities 2.2 city employs over 1 in 4 of the city’s workforce - over 50,000 Cardiff’s expertise within Other credit granting 2.0 11 people . Key employers include the sector is growing, with Risk and damage evaluation 2.0 a number of globally recognised headquarters of a number financial services companies, of leading financial and fin- Other activities auxiliary to 2.0 including Admiral, Atradius, tech services in Cardiff, all insurance and pension funding Legal & General, Lloyds Bank complemented by higher Other activities auxiliary to 1.8 and Zurich. In addition, home- education in the city that not only financial services, except grown companies such as The provides a steady stream of skilled insurance and pension funding Principality Building Society, Julian graduates, but also works closely Other monetary intermediation 1.7 Hodge Bank and Thomas Carroll with business to design and shape Activities of call centres 1.7 have expanded their operation courses for the sector. Links in Cardiff over recent years. The with the city’s higher education Technical testing and analysis 1.5 city is also home to some of the institutions have also had an UK’s biggest accountancy firms, impact on the sector, for example, Source: 2013 Business Register and including Deloitte, PWC, Grant Legal & General has been working Employment Survey Thornton and KPMG. Overall, the with Cardiff University to deliver financial services sector has grown medical training for medical by more than 60% in Cardiff in underwriters and claims assessors. employment terms over the past The content and structure of decade, faster than any other the courses has been adapted UK city12. There is still, however, over time to accommodate the capacity for the sector to grow, changing needs and requirements whilst the city employs a quarter of the business. of its workforce in the sector this is substantially lower than in cities such as Nottingham, Manchester and Edinburgh.

112013 Business Register and Employment Survey, Sections J, K, L, M, N 12Where next for UK ﬁnancial services? Part 2: Regions of opportunity, PWC 13‘fDi Supplement August/September 2013’ fDiIntelligence.com 14‘fDi Supplement August/September 2013’ fDiIntelligence.com

28 | CARDIFF - THE CAPITAL CONNECTION

CREATIVE INDUSTRIES

Cardiff has become the hub As well as being a prime location Location Quotients for Cardiff of Wales’ creative industries for major players in the creative Creative Sector (1=UK average sector, with particular strengths sector, Cardiff is also home to employment percentage) in broadcasting and TV and a growing creative start-up film production. A significant community that has been growing Operation of arts facilities 3.7 concentration of creative companies in size and confidence. One Translation and interpretation 3.4 are attracted to Cardiff due to the example of the city’s thriving start activities presence of major broadcasters up community in creative and such as the BBC, S4C, ITV and digital sectors is Cardiff Start, a Printing of newspapers 3.1 because of its academic excellence. group of entrepreneurs, start-up Motion picture projection 2.2 The announcement in 2014 founders, creatives, students, and activities that Pinewood Studios Wales investors who believe that Cardiff Performing arts 2.1 will develop a base in Cardiff15, is a brilliant place to work and live, estimated to bring in around £90 and are uniting the digital scene in Support activities to 2.0 million to the economy, will add to our city. performing arts the city’s already established studios Television programming and 1.9 including the BBC Drama Village. broadcasting activities đƫƫƫƫ.+1* ƫƫ0$%. ƫ+"ƫ((ƫ!(/$ƫ The BBC Drama Village, located creative industry jobs are Source: 2013 Business Register and in Porth Teigr, Cardiff Bay, is based in Cardiff Employment Survey a 170,000 square foot facility, including nine studios and đƫƫƫƫ+)!ƫ0+ƫ0.%,(!ƫ))5ƫ3. ƫ equivalent in length to three production Sherlock as well football pitches, is now the as leading BBC prime time permanent, purpose-built home productions Dr Who and of four flagship BBC dramas - Casualty Casualty, Pobol y Cwm, Doctor đƫƫƫƫ),(+5/ƫ+2!.ƫćČĀĀĀƫ,!+,(!16 Who and Wizards vs Aliens. The đƫƫƫƫāČćĀĀƫ.!0%2!ƫ1/%*!//!/ƫ%*ƫ studio’s aim is to be a hub for Cardiff17 creative sustainability, bringing đƫƫƫƫ!/0ƫ,!*!0.0%+*ƫ+"ƫ/1,!."/0ƫ talent together and allowing broadband of UK Core Cities, knowledge and expertise to be boosted by a New Internet shared. Exchange in the heart of the city BBC Wales has also announced their plans for a new regional đƫƫƫƫ$!ƫ 1)!*ƫ.%6!Čƫ/! ƫ%*ƫ headquarters at Central Square. Cardiff, is the world’s biggest Designed by internationally digital arts prize renowned architects Sir Norman đƫƫƫƫ$!ƫ.!0%2!ƫ * 1/0.5ƫ/! 0+.ƫ Foster and Partners, the is the fastest growing sector statement building will form the in Wales with employment centrepiece of a new destination in the sector increasing 58% for the creative sector in the heart between 2005 and 201318 of the city centre. đƫƫƫƫƫ.!*+3*! ƫ1*%2!./%05ƫ system with nearly 5,000 The city is also supported by a creative industries graduates wide variety of incubation space each year, in subjects such for the creative industries, from as animation, visual effects, the newly developed Gloworks and digital and mobile creative industries centre in the technology development19 heart of Porth Teigr, Cardiff Bay, as well as space in the city’s đƫƫƫƫ.+//ƫ(1!ƫ ! ƫĨĩƫ"+.ƫ the sector in Wales was £787 established Cardiff Business 20 Technology Centre. million for 2012

15‘Welsh Government kick starts £30 million ﬁlm investment fund with Pinewood Studios movie’ WalesOnline 162013 BRES, Welsh Government Cluster Deﬁnition 17Businesses listed in MINT database in Cardiff under SIC codes 58,59,60,62,90,91,92,93 18Welsh Government Statistics 19Welsh Government Statistics 20Annual Business Survey, Regional Accounts and Annual Population Survey, ONS / Welsh Government

30 | CARDIFF - THE CAPITAL CONNECTION

LIFE SCIENCES

The city’s life sciences businesses, Employment in Life Sciences (% such as GE Healthcare, are đƫƫƫƫ +/ƫ#.+30$ƫ+"ƫ+2!.ƫăĆŌƫ workforce) world leading enterprises. The between 2003 and 2010 Cardiff 0.9 biosciences cluster in Cardiff đƫƫƫƫ),(+5/ƫāČĈĀĀƫ,!+,(!ƫ%*ƫ+*!ƫ is supported by the region’s of the largest clusters in the Liverpool 0.9 universities which are home to UK22 world leading research expertise Sheffield 0.7 with a significant commercial đƫƫƫƫ(1/0!.ƫ%* (1 !/ƫ +),*%!/ƫ Nottingham 0.6 such as GE Healthcare, outlook. As well as facilities Birmingham 0.5 such as the Cardiff Medicentre CELSA, Huntleigh (a medical technology incubator Healthcare, Ortho Clinical Bristol 0.4 Diagnostics, ConvaTec, on the site of the University Leeds 0.4 hospital), there has also been Genesis Bioscience, Norgine significant investment in the new and Quotient Bioresearch Newcastle upon Tyne 0.3 Life Sciences Hub Wales, based đƫƫƫƫ*!ƫ+"ƫ0$!ƫ0+,ƫü2!ƫ3+.( ƫ Manchester 0.3 in Cardiff Bay, a focal point for diagnostic companies the sector in Wales – stimulating have operations in Wales Source: 2013 Business Register and interaction, innovation, networking (Ortho Clinical Diagnostics, Employment Survey, 2007 SIC Welsh and collaboration. The hub is a Pencoed)23 Government Definition nerve centre for the whole of the đƫƫƫƫ!(/$ƫ+1* ƫ **+20%+*ƫ Life Sciences sector, including Centre: £4 million national In comparison with the UK’s academic and healthcare centre of excellence in Core Cities, Cardiff has a broad organisations, business, expert wound prevention and range of businesses within advisers, clinical and funding treatment at Llantrisant life sciences. The table below outlines that a greater proportion organisations, it helps bring about đƫƫƫƫ. %ûƫ*%2!./%05ƫ%/ƫ0$!ƫ/!ƫ investment, commercialisation for Sir Martin Evans, Nobel of people are employed in and ongoing business success. Prize Winner for discovery Cardiff in the manufacture of Global companies like Johnson & of embryonic stem cells, irradiation, electromedical and Johnson Innovation have already and has an MRC Centre for electrotherapeutic equipment, signed up as Hub members Neuropsychiatric Genetics other inorganic basic chemicals, alongside NHS Wales, Arthurian and Brain Imaging Research medical and dental instruments Life Sciences (which manages the Centre (CUBRIC) and supplies and pharmaceutical Wales Life Sciences Investment preparations than the UK average. Fund), Finance Wales and BBI đƫƫƫƫƫ!0$ .!ƫ/0!)ƫ !((ƫ Healthcare. sciences R&D base at Cardiff Location Quotients for Selected with the appointment of the Cardiff Life Sciences Sectors (1=UK Employing almost 2,00021 internationally renowned average employment percentage) people in the city, and more stem cell scientist Prof across the city-region, the Stephen Minger as Chief Manufacture of irradiation, 4.7 cluster in Cardiff is one of the Scientist electromedical and most competitive in the UK, đƫƫƫƫ!!1.+*ƫ%/ƫ0$!ƫü./0ƫ electrotherapeutic equipment and with support from higher company to carry out clinical Manufacture of other inorganic 3.3 education and the Welsh trials of stem cells in stroke basic chemicals Government has been targeted patients. They are moving Manufacture of medical and 2.2 as one of the key growth their entire operation from dental instruments and supplies sectors for the South Wales Guildford, UK to South Wales Manufacture of pharmaceutical 1.8 economy. đƫƫƫƫ.+//ƫ(1!ƫ ! ƫĨĩƫ preparations was £565 million for the sector in Wales for 201224 Source: 2013 Business Register and Employment Survey

212013 Business Register and Employment Survey, 2007 SIC Welsh Government Deﬁnition 222013 Business Register and Employment Survey, 2007 SIC Welsh Government Deﬁnition 23Welsh Government 24 Annual Business Survey, Regional Accounts and Annual Population Survey, ONS / Welsh Government

32 | CARDIFF - THE CAPITAL CONNECTION

ADVANCED MANUFACTURING

Cardiff is also home to an Location Quotients for advanced manufacturing sector, đƫƫƫƫăĉČĊĀĀƫ,!+,(!ƫ!),(+5! ƫ Cardiff Manufacturing Sector supported by links to higher across the sector in the city- (1=UK average employment education, and a skilled workforce region – 6.5% of the total percentage) in manufacturing techniques. workforce25 Specialism range from electronics, Manufacture of electric 6.9 đƫƫƫƫ(!/Ěƫ 2* ! ƫ 0!.%(/ƫ domestic appliances to state of the art steel production and Manufacturing at EU’s most efficient Electric Arc productivity is 20% higher Manufacture of irradiation, 4.7 Furnace at Celsa Steel UK. Around than the UK average26 electromedical and 4,000 people are employed in electrotherapeutic equipment advanced manufacturing in Cardiff, đƫƫƫƫ! % 0! ƫ!.+/, !ƫ Manufacture of medical and 2.2 with many more employed in Enterprise Zone at St. Athan dental instruments and supplies and Cardiff Airport supporting sectors. Manufacture of fibre cement 2.0 đƫƫƫƫąĀƫ$! 0.!ƫ)*1" 01.%*#ƫ The sector is also supported Enterprise Zone in the city- Source: 2013 Business Register and by the city’s universities, who region at Ebbw Vale Employment Survey have a close link with business đƫƫƫƫ+.( ġ.!*+3*! ƫ and the commercialisation of reputation for aircraft MRO research. The Centre for Advanced (Maintenance, Repair and Manufacturing Systems at Cardiff Overhaul), with over 20% of (CAMSAC) is one example, a the UK’s market research centre set up to build đƫƫƫƫ.+//ƫ(1!ƫ ! ƫĨĩƫ directly on Cardiff’s existing strong for advanced manufacturing reputation for internationally and materials in Wales was leading manufacturing related £5,080 million for 2012 research. CAMSAC bridges both engineering and business đƫƫƫƫƫ,!.ƫ$+1.ƫ3+.'! ƫ3/ƫ disciplines and works closely £33.6 in 2012; 27% higher with businesses to develop new than the equivalent UK figure manufacturing concepts, drawing and 56.1% above the average on funding from the Welsh for all industries in Wales Government, the EPSRC, the Technology Strategy Board, the European Union and industry. The city is also home to advanced technology manufactures such Across the city-region there is as IQE, who use advanced crystal also a wide range of expertise in growth technology (epitaxy) to sectors such as aerospace and manufacture and supply bespoke defence, with businesses such as semiconductor wafers (‘epi-wafers’) GE Aviation, British Airways, Airbus to the major chip manufacturing Defence & Security, BAE Systems, companies. IQE is unique in being and General Dynamics having a able to supply wafers using all presence in South East Wales. of the leading crystal growth Other sectors with a significant technology platforms. presence include the automotive sector, where there is a particular In comparison with the UK’s Core focus on low carbon research, Cities, Cardiff has a broad range with business and academia of businesses within advanced working together, such as Cardiff manufacturing. The table above University’s Institute of Energy outlines that a greater proportion collaboration with Ricardo and of people are employed in Cardiff Qinetiq on alternative fuels and in a range of manufacturing sectors technologies. than the UK average, from electronic appliances top construction materials.

252013 BRES, NOMIS, ONS 26http://www.wales.com/media/viewfile.aspx?filetype=4&filepath=AMM_Brochure.pdf

34 | CARDIFF - THE CAPITAL CONNECTION

Road direct rail access to Heathrow The M4 is the main road artery through investment in the linking Cardiff to other cities in Heathrow Spur of the Great South Wales, Southern England Western Mainline. This means and London. The main north- that it will become just as easy to south road link in Wales is the get to Cardiff Central as it will be A470 and the A40 / M5 links for many of London’s city centre South Wales to the Midlands locations. and the North of England, which means that 6 million people are Telecom / Digital within a one-hour drive of the city. Cardiff is already one of the most connected cities in the UK, and, Rail under the SuperConnected Cities Cardiff has one of the largest programme, Cardiff Council has urban rail networks in the UK secured funding for a Peering outside London, with 89 rail Grant scheme for businesses to stations linking the city to the connect with the new Internet wider region. The network is Exchange Point (IXP). This will currently being upgraded with help SMEs to peer with other £1bn of investment to electrify organisations which will improve rail infrastructure in South Wales. speeds within the city, provide This will create one of the best resilience nationally, help attract metropolitan rail systems in the further investment by reducing UK, bringing the city-region closer barriers to entry, reduce costs together, and creating a travel to to end-users (as a result of work area that covers more than creating greater competition in half of the total population of the local ISP market) and create Wales, all able to use rail to get to an infrastructure that will support Cardiff city centre in less than an rapid expansion. hour even at city-region extremes. đƫƫƫƫ. %ûƫ(.! 5ƫ$/ƫ+*!ƫ+"ƫ Cardiff Central and Cardiff Queen the best penetration rates Street are the two main passenger of superfast broadband of stations in the city centre with UK Core Cities – with 91% of trains connections serving all of homes and businesses in 2014 Wales. Cardiff Central has a direct boasting access to superfast twice-hourly, two-hour journey broadband27. time, service to the heart of London. There are also rail freight đƫƫƫƫĹāĀƫ)%((%+*ƫ%*2!/0)!*0ƫ+2!.ƫ depots in Cardiff which provide the next 12 months to support containerised delivery facilities. businesses in installing The City also has a Eurofreight superfast broadband, and terminal and is the main rail depot supporting private sector in Wales for European and world infrastructure investment. markets. đƫƫƫƫ!3ƫ *0!.*!0ƫ4 $*#!ƫ%*ƫ the heart of the city in 2014, An additional £500 million making internet connections investment has been committed faster and more competitively to improve links to London prices – with businesses through the electriﬁed mainline reporting a 20% reduction in and new rolling stock for freight costs for leased lines in the city. and passengers. This will reduce đƫƫƫƫ+*0%#1+1/ƫ %05ƫ !*0.!ƫ".!!ġ0+ġ travel time between London and access Wi-Fi launched in 2013, Cardiff to less than 100 mins. by and free to access wiﬁ across 2018. In addition there will be both public buildings and the city’s bus network.

27OFCOM Communication Market Review 2014.

36 | CARDIFF - THE CAPITAL CONNECTION 9 INFRASTRUCTURE

Current Metro System for Cardiff-City Region

CARDIFF - THE CAPITAL CONNECTION | 37 10 COST COMPARISON

38 | CARDIFF - THE CAPITAL CONNECTION Cardiff offers a competitive base both in terms of staff and property costs. Salary comparison Average salaries in Cardiff are among the lowest when compared to other major cities across the UK and close to 20% lower than London. Graduate salaries are also extremely competitive, with a steady supply of skilled and talented workers providing a strong and competitive workforce to support businesses across the city. Both city and regional data shows how competitive Cardiff is in terms of graduate salaries, and with around 12,000 people each year gaining undergraduate qualiﬁcations in the city-region, there is a constant and steady supply of skilled workers28. Low cost of living, with low house prices and rents in comparison with South East England, means that the purchasing power for workers is also much better in comparison with those working in other South East cities.

Graduate Salaries by City 2014 Average London £29,000 Bristol £25,000 Manchester £25,000 Edinburgh £25,000 Sheffield £25,000 Glasgow £25,000 Leeds £25,000 Nottingham £25,000 Birmingham £25,000 Newcastle £24,000 Cardiff £23,000 Liverpool £23,000 Source: totaljobs.com

28‘2012/13 Employment of leavers’ Higher Education Statistics Agency

CARDIFF - THE CAPITAL CONNECTION | 39 10 COST COMPARISON

Commercial property There are a number of property options available for companies Cardiff city office market: annual take-up wishing to establish a base in Cardiff, ranging from serviced sq ft offices to industrial properties. There are also a range of 700,000 incentives and support available for businesses looking to start 600,000 up or locate in the city. Office occupancy costs in Cardiff can 500,000 be around 40% of that in London. Allied with competitive labour 400,000 costs this means that starting or locating a business in Cardiff can 300,000 give clear cost advantages, whilst

also having the security of a large 200,000 and skilled workforce and the best quality of life of any UK city. Cardiff is an established office 100,000 market and 2014 (Q1-Q3) has recorded a 59% rise in tenant 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 demand on the 2013 total take- Q1-Q3 up and has even surpassed Take-up sq ft 10 year average the 2012 ﬁgure. Like most UK Source: Deloitte Real Estate Research office markets, Cardiff had been impacted by tenant cautiousness as a result of the economic uncertainty.

Cardiff city office market: Prime rent

£ per sq ft

23.00

22.00 Much akin to other regional city 21.00 office markets, development has started to return to Cardiff, 20.00 with two speculative schemes

19.00 having commenced this year and developer sentiment is 18.00 strengthening. Prime rents in Cardiff have remained at £237 17.00 psm (£22.00 psf) per annum, since 2012. 16.00

15.00 2008 2009 2010 2011 2012 2013 Q3 2014

Source: Deloitte Real Estate Research

40 | CARDIFF - THE CAPITAL CONNECTION Cardiff city office market: Prime rent

£ per sq ft

23.00

22.00

21.00

20.00 Compared to a number of other UK core cites the prime rents in 19.00 Cardiff have remained fairly stable. 18.00

17.00

16.00

15.00 2008 2009 2010 2011 2012 2013 Q3 2014

Source: Deloitte Real Estate Research

Q3 2014 - Key statistics at a glance

Regional city office market: Prime rent Prime Headline Rent (£ psf) Q3 £ per sq ft 2014 33.00 London West End £115.00 31.00 Birmingham London City £63.50 Manchester 29.00 Leeds Aberdeen £32.00 Liverpool 27.00 Cardiff Manchester £31.00 25.00 Glasgow Edinburgh Glasgow £29.50 23.00 Birmingham £28.50 21.00 Edinburgh £28.00 19.00

17.00 Bristol £27.50

15.00 Leeds £26.00 2008 2009 2010 2011 2012 2013 Q3 2014 Cardiff £22.00 Source: Deloitte Real Estate Research Newcastle £21.50 Liverpool £21.00 Cardiff continues to offer Sheffield £20.00 signiﬁcant saving over London and many of the other UK core cities. Source: Deloitte Real Estate Research

CARDIFF - THE CAPITAL CONNECTION | 41 Cardiff is well placed to attract đƫƫƫƫ!/!. $ƫ* ƫ!2!(+,)!*0ƫĢƫ Commercial finance is also a wide range of grant aid and Grant support towards research available from a number of financial support from the Welsh and development can also be financial institutions in Wales. Government, Cardiff Council made available. The rate of This includes “Finance Wales” and the European Commission. support is dependent on the which provides commercial Investment projects which type of research undertaken finance through loans, meet the Council’s criteria can and the degree of collaboration venture capital packages and potentially attract between 10% involved. Generally, support introductions to investors and 30% of a company’s costs is capped at €15 million per through Xenos, a business angel for capital investment and job project. organisation. The city has been creation, with potentially higher able to attract international levels available for research and đƫƫƫƫ!ƫ %*%)%/ƫĢƫ!ƫ %*%)%/ƫ% ƫ investors attracted by both development. can be provided for projects property deals and invest not meeting any of the above opportunities in our companies While we know that grant aid criteria or for businesses as Cardiff gains wider recognition and financial support are not key located within parts of the as competitive business location reasons for a company choosing city that may not attract a with growth potential. a vibrant location like Cardiff, full range of grant aid. Under the availability of grant can help this scheme, a maximum of reduce the risks of an investment €400,000 can be provided and potentially improve returns. over a four year period. Alongside competitive salaries the đƫƫƫƫ. %ûƫ!*0.(ƫ*0!.,.%/!ƫ+*!ƫ availability of a grant package can – Cardiff Enterprise Zone is provide a very competitive offer located within an Assisted Area Cardiff Assisted Area Map for businesses looking for a long in Cardiff, and also benefits term sustainable location. from further support from the The level of funding can be Welsh Government, including influenced by your location in opportunities for some the city and the size of business businesses to claim rate free i.e. small and medium or a periods within the Zone. large enterprise. The key grant schemes are as follows: The schemes above are not exhaustive and we would anticipate providing bespoke đƫƫƫƫ+*ġ.!,5(!ƫü** !ƫġƫ$%/ƫ is a regional aid scheme for guidance to any company looking businesses investing and to invest in Cardiff to ensure creating jobs within Cardiff. that the funding package meets The scheme has a range of their specific requirements. The criteria which must be met. Cardiff Economic Development This has been one of the team, working in concert with the M4 principal sources of grant aid Welsh Government, can advise that has supported inward Clients on the most appropriate investment into the Cardiff funding package. It is important area. Average levels of grant to emphasise that all funding is aid have been circa £6,000 per discretionary and negotiable and job created /safeguarded. there is no automatic entitlement to aid. đƫƫƫƫ.%*%*#ƫĢƫ.*0ƫ/1,,+.0ƫ"+.ƫ Great Western company’s training programme Mainline can be made available up to a maximum of €2 million per project. Under this scheme, the company’s training costs can be funded alongside third party costs. Generally non repayable finance and training support are negotiated.

42 | CARDIFF - THE CAPITAL CONNECTION 11 FINANCIAL SUPPORT

Assisted Area Status buildings in the ownership of by the Welsh Government and Assisted Areas are those areas the private and public sector. Cardiff Business Council which where regional aid can be off ered This includes commercial offi ces provides ongoing support to under Commission state aid and land in the city centre and our existing businesses. Every rules. In Wales discretionary Enterprise Zone and greenfi eld investor has a dedicated fi nancial support is available for locations offi ce locations like project offi cer who will ensure businesses. Business Premises Cardiff Gate and St Mellons you continue to have access Renovation Allowance (BPRA) which can be made available to to fi nancial support schemes, is also available and gives 100% businesses investing in the city. business networks and relevant rate relief for expenditure on The Council also has a portfolio University departments in order converting or renovating unused of technology /incubation to ensure your investment in business premises in assisted units which it could make Cardiff remains successful. areas. available to investors seeking accommodation or requiring Property short term accommodation prior Attractive rental packages, rent to occupying long term premises. free periods are an integral part of the fi nancial and support Post Investment Support package for investing in our Cardiff prides itself in looking Capital City. Unlike most cities after its investors. We have a in the UK, Cardiff has both dedicated team within Economic high quality sites and Grade A Development and supported For further information, please contact Ken Poole, FRICS.

Great Western Mainline

CARDIFF Head of Economic Development, Cardiff Council, County Hall, Cardiff , CF10 4UW. 029 2087 2545 Ken.poole@cardiff .gov.uk Cardiff Assisted Area City Centre

Enterprise Zone

Cardiff Bay

CARDIFF - THE CAPITAL CONNECTION | 43 12 USEFUL WEBSITES

44 | CARDIFF - THE CAPITAL CONNECTION Universities Cardiff University www.cardiff.ac.uk Cardiff Metropolitan University www.cardiffmet.ac.uk University of South Wales www.southwales.ac.uk Industry and Business Groups Aerospace Wales www.aerospacewalesforum.com Cardiff Business Council www.cardiffbusinesscouncil.com Cardiff Enterprise Zone www.business.wales.gov.uk/enterprisezones/ enterprise-zone-locations/central-cardiff Cardiff Start www.cardiffstart.com Cogent – Skills for Science Based Industries www.cogent-ssc.com Confederation of British Industry (CBI) www.cbi.org.uk EEF (Engineering Employers’ Federation) Wales www.eef.org.uk/membership/membership-team/wales Finance Wales www.ﬁnancewales.co.uk Life Sciences Hub Wales www.lifescienceshubwales.com MediWales www.mediwales.com Skillset Wales www.creativeskillset.org/nations/wales University of South Wales www.southwales.ac.uk Wales Contact Centre Forum www.welshcontactcentreforum.co.uk/ Wales Screen Commission www.walesscreen.com Xenos www.xenos.co.uk Government departments City of Cardiff www.cardiff.gov.uk Welsh Government www.wales.gov.uk Business Wales www.wales.com/business Corporate and personal taxation (HMRC) www.hmrc.gov.uk Driving licence applications (DVLA) www.dvla.gov.uk Transport and logistics British International Freight Association www.bifa.org Freight Transport Association www.fta.co.uk Highways Agency www.highways.gov.uk Road Haulage Association www.rha.net Nearby airports and ports Cardiff Airport www.cardiff-airport.com Barry, Cardiff, Newport, Port Talbot and Swansea ports www.abports.co.uk Workforce Chartered Institute of Personnel and Development www.cipd.co.uk Department for Work and Pensions www.dwp.gov.uk Institute of Directors www.iod.com Telecommunications Ofcom www.ofcom.org.uk British Telecom www.bt.com Premises The Valuation Office Agency www.voa.gov.uk British Council for Offices www.bco.org.uk Wales Property Database http://business.wales.gov.uk/property-database Business formation Companies House www.companieshouse.gov.uk Utility costs Utility cost information www.energyhelpline.com/business Utility cost comparison www.uswitch.com

CARDIFF - THE CAPITAL CONNECTION | 45

Deloitte refers to one or more Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, and its network of member.