FSB Wales welcomes £10bn South Wales AI Growth Zone
FSB Wales welcomes £10bn South Wales AI Growth Zone
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South Wales is set to become the UK’s second AI Growth Zone following a major investment announcement from the UK Government, a move business leaders say could reshape the region’s economic landscape.
The zone will stretch along the M4 corridor from Newport to Bridgend, including the former Ford Bridgend Engine Plant site.
It follows the earlier designation of an AI Growth Zone in North Wales and forms part of a wider strategy to cement the UK’s position as a global leader in artificial intelligence.
The £10 billion programme is expected to create at least 5,000 jobs, spanning construction, AI research and development.
Up to £5 million in government support will also be made available to help firms develop AI skills and adopt new technologies.
Major partners including Vantage Data Centers and Microsoft have committed to collaborating with universities in South Wales to build the region’s AI workforce.
FSB Wales, which represents small businesses across the country, welcomed the announcement and said it could deliver substantial opportunities for local firms.
Head of FSB Wales, Joshua Miles, said: “This announcement is welcomed news, poised to create many jobs and further placing Wales at the heart of the UK’s AI ambitions.
“Our members stand to gain significantly from the skills training and support this announcement will bring about, enabling them to drive efficiencies, technical advancements and business growth.
“We urge all partners involved to ensure local businesses across South Wales are fully involved in any procurement and supply chain opportunities linked to this project, to benefit, not only local economies, but the wider Welsh economy too.”
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