A state-of-the-art centre of excellence for R&D is being created in Wales, UK.
The country’s largest privately-funded infrastructure project, named The Circuit of Wales, will be a hub of innovation covering 63,504 square metres for light manufacturing, industrial, and ancillary office use.
It will be set into the heart of the government-nominated Automotive Enterprise Zone, in the Blaenau Gwent area. The development will cost £425 million and contribute to economic diversification across the region, enabling the development of automotive and aerospace technologies.
The development of the business and innovation park will demand technology, engineering, research, management, and hospitality expertise that will have positive knock-on effects in the local community, providing employment opportunities and apprenticeships, as well as incentivising entrepreneurs. It will also provide a technical academy, a joint venture between local higher education bodies, a Welsh university, and The Circuit of Wales. 1,500 workers will be required during Phase 1 of the construction process alone, and they will be provided with construction skills training opportunities on-site.
British MotoGP will be hosted at the Circuit from 2019, and this combined with other sports and leisure events are expected to attract 750,000 visitors a year, alongside £50 million being injected into the Welsh economy per annum.
Martin Whitaker, Chief Executive of The Circuit of Wales said: “The Circuit of Wales represents a compelling proposition for the technology and automotive industries. The innovation cluster combines a state-of-the-art operations for OEMs, automotive, composite, materials and component manufacturers, with a world-class testing facility in one place.
“We are already seeing significant interest from a range of industries in partnering with The Circuit of Wales to increase their innovation and research activities. Together with a 365-day-a-year leisure and sports development, The Circuit of Wales will deliver a range of transformative regenerative initiatives – creating high-quality jobs and training opportunities, and drawing increased revenues, businesses and investment to one of the most disadvantaged areas in Wales.”