Cardiff Capital Region (CCR) Regional Cabinet agreed to invest £37.9m for the development the compound semiconductor cluster in southeast Wales, according to an article at Wales Online UK. The initiative projects that private sector investment over the next five years will add £375 million.
The project organizers predict that the compound semiconductor cluster could create up to 2000 high-value, high-tech jobs and potentially add hundreds more through the supply chain and cluster development.
The funding comes from the City Deal’s Wider Investment Fund. Ten local authorities of the region formally signed the £1.2 billion program on March 1, 2017. The compound semiconductor cluster initiative is this first such investment since the local authorities signed the City Deal.
As part of the project in the CCR, a state-of-the-art facility will be constructed for housing Compound Semi applications development and high volume Compound Semi manufacturing. The ten councils will own the facility, which project partners including Cardiff University will lease. Discussions about the location of the site are continuing. However, Newport is considered the most likely choice.