Invest in Wales
Along with England, Scotland and Northern Ireland, Wales forms part of the United Kingdom and the European Union. With advanced infrastrucrure and communication networks, it offers a unique gateway to the UK, Europe and markets around the world.
Over the last 15 years, Wales has become an economic powerhouse in Europe, where pioneering new technologies are developed and where manufacturing accounts for around 30% of GDP- From an economy that was built on a foundation of primary industries like coal and steel, Wales has emerged as a leading force in an increasingly diverse range of high-tech sectors, from aviation to optical electronics.
With a commercial environment that has embraced new technologies and established a strong culture of innovation, Wales is increasingly attracting sector-leading companies from all over the world Globally recognized brand names like Agilent Technologies, Bosch and Toyota have all chosen Wales as their European location.
Welsh Assembly Government
In 1999, reforms to the United Kingdom's constitution led to the establishment of the Welsh Assembly Government. The Assembly took over the responsibilities of the Welsh Office and its annual budget of £12 billion and now controls most central government functions in Wales, including education and the health service.
The arrival of the Welsh Assembly has led to a clearer profile for Wales around the world and a stronger voice within the European Union, It has also provided an enhanced role for the Welsh Development Agency, which is now accountable directly to the Assembly Government and which has been given new responsibilities to promote economic development in Wales.
The headquarters of the Welsh Assembly Government is in Cardiff Bay, which is also home to a growing number of financial services and multimedia businesses, ranging from credit card services through to advanced virtual reality imaging.
Cardiff is approximately two hours away from London and Heathrow Airport, Linking the two cities is Britain's answer to Silicon Valley—the M4 motorway ”corridor” , where 40% of all electronics companies in the UK are based.
Welsh Development Agency
The WDA is the first port of call for inward investors to Wales. Since its establishment in 1976, the Agency has had over a quarter of a century of experience of assisting investment in Wales from the private sector. Its mission is to maintain Wales' position as a world-class location for overseas businesses.
We will help you assess your needs and then show you what Wales bas to offer and how that can be made to work for your company. We employ specialists from across; all sectors—from finance to property, from banking to aerospace—who will work closely with you before, during and after you establish your operation in Wales.
Why Invest in Wales?
Astute overseas investors have long recognized the benefits of working in a thriving business environment where productivity is high, the cost base is low and. where innovation is part of the culture. So much so, that more than 60% of companies who invest in Wales will do so again.
Wales' geographical and political position puts investors there at the heart of the world's largest consumer market—Europe—which, with a population of over 400 million people, is as large as the US and Japanese markets combined. As part of the European Union, Wales benefits from tariff-free access to these markets as well as a range of incentive packages for investors, aimed at encouraging economic development.
As part of the UKS Wales enjoys all the advantages that the UK has to offer. The operation of relatively benign corporate and personal tax regimes in the UK has been a major factor contributing to the success of Wales in attracting inward investment.
Low Cost Base
Set-up and ongoing operational costs in Wales are extremely competitive and in some areas can be further reduced by Government and EU financial incentive packages. At the same time, the changing face of the Welsh economy has stimulated a proliferation of quality commercial property, from science parks to city centre offices.
World Class Workforce
Wales has a highly qualified and highly skilled workforce whose productivity rate is one of the highest in Europe- With extensive experience in traditional industries as well as high growth new technology sectors, it has a proven commitment to building success and the flexibility to adapt to the changing needs of investors.
Wales' infrastructure—from its state-of-the-art broadband telecommunication links to its road, rail and air networker—is one of the most highly developed in Europe- Speeds reliability and cost effectiveness keep contact with customers, suppliers and colleagues simple and efficient.
Tailor-made Financial Packages
Businesses investing in Wales can access a wide range of financial incentives designed to encourage new investment and the development of industry and commerce, Incentives are provided through a number of bodies t including the Welsh Assembly Government, the UK National Government and the European Commission.
Since Wales is categorized as an Objective One Status region within the European Union, it offers the highest possible levels of financial assistance and resources available. Regional Selective Assistance is the main UK Government grant available for investment in manufacturing and assembly industries. It applies to specific areas of the UK, including a number in Wales, which have traditionally suffered high levels of unemployment.
The Welsh Development Agency's specialist team helps inward investors to identify sources of financial assistance and will work with them and the relevant institutions to secure funding.
The Welcome to Wales Programmer
The Welcome to Wales programmer is part of the total service offered by the WDA to all inward investing companies. Our aim is to look after the personal side of your relocation to Wales and to ensure that your staff and their families settle in as soon as possible. Some of the specific services that we offer are listed below but the programmer is as broad-reaching and flexible as you want it to be:
House Search—we will provide you with up-to-date information on the local property market and assist you in identifying suitable accommodation for you and your family to rent or purchase.
School Search—we will help find suitable schooling for your children and provide detailed information on the education system in Wales.
Area Familiarization—customized tours will help you get to know the local area and its amenities.
Work Permits—Guidance and assistance from us will make work permit applications simple.