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| 6,500 enterprise zone jobs in pipeline, says Wales' first minister | |
| (35 minutes later) | |
| The first minister has said there are 6,500 jobs "in the pipeline" in Welsh enterprise zones. | The first minister has said there are 6,500 jobs "in the pipeline" in Welsh enterprise zones. |
| Carwyn Jones' comments came as he announced accountancy firm Deloitte will create 100 jobs in the Cardiff zone over the next three years. | |
| He also announced a cut in interest rates charged on new loans from Finance Wales for small and medium-sized businesses (SMEs). | He also announced a cut in interest rates charged on new loans from Finance Wales for small and medium-sized businesses (SMEs). |
| Welsh Conservatives say the enterprise zones still have "a long way to go". | Welsh Conservatives say the enterprise zones still have "a long way to go". |
| At his monthly press conference, the first minister defended his Welsh government's enterprise zone policy saying they "are the envy of the rest of the UK". | At his monthly press conference, the first minister defended his Welsh government's enterprise zone policy saying they "are the envy of the rest of the UK". |
| Financial services | Financial services |
| There are seven enterprise zones in Wales, each dedicated to nurture specific industries. | There are seven enterprise zones in Wales, each dedicated to nurture specific industries. |
| Companies have access to a range of benefits, including business rate relief, enhanced capital allowances, skills support, superfast broadband, bespoke infrastructure projects and simplified planning rules. | Companies have access to a range of benefits, including business rate relief, enhanced capital allowances, skills support, superfast broadband, bespoke infrastructure projects and simplified planning rules. |
| Carwyn Jones said almost 2,000 jobs have been created across the seven zones, with a further 6,500 planned, 3,000 of them in the Cardiff zone. | |
| Located in the centre of the capital, a further 100 jobs are set to be created in the zone dedicated to financial services as financial advisory firm Deloitte's is set to expand. | Located in the centre of the capital, a further 100 jobs are set to be created in the zone dedicated to financial services as financial advisory firm Deloitte's is set to expand. |
| Deloitte will set up the Cardiff Centre of Excellence to support its International Assignment Services, helping employers meet tax compliance. | Deloitte will set up the Cardiff Centre of Excellence to support its International Assignment Services, helping employers meet tax compliance. |
| 'Hugely encouraged' | 'Hugely encouraged' |
| The Welsh government has invested £170,000 into the project, which will centralise client administration and support. | The Welsh government has invested £170,000 into the project, which will centralise client administration and support. |
| Carwyn Jones welcomed the news at the firm's Cardiff headquarters. | Carwyn Jones welcomed the news at the firm's Cardiff headquarters. |
| "This latest expansion which is set to create 100 jobs in Cardiff sends out a strong message that Wales is becoming the location of choice for companies operating in the professional and financial services sector that are looking to grow their business," he said. | "This latest expansion which is set to create 100 jobs in Cardiff sends out a strong message that Wales is becoming the location of choice for companies operating in the professional and financial services sector that are looking to grow their business," he said. |
| "I am hugely encouraged that Cardiff has been selected and confident this latest project will build on the success of their quality and risk operations team in Cardiff. | "I am hugely encouraged that Cardiff has been selected and confident this latest project will build on the success of their quality and risk operations team in Cardiff. |
| "Wales is the first place in the UK with an enterprise zone dedicated to this sector and Central Cardiff Enterprise Zone is helping to enhance the city's position as a capital location for professional business services." | "Wales is the first place in the UK with an enterprise zone dedicated to this sector and Central Cardiff Enterprise Zone is helping to enhance the city's position as a capital location for professional business services." |
| Shadow Minister for Business Nick Ramsay AM, said: "This is extremely welcome news - and long overdue. | Shadow Minister for Business Nick Ramsay AM, said: "This is extremely welcome news - and long overdue. |
| "Progress on the Labour government's enterprise zone in Cardiff has been disappointingly slow - and today's announcement is a step in the right direction. | "Progress on the Labour government's enterprise zone in Cardiff has been disappointingly slow - and today's announcement is a step in the right direction. |
| Interest rates reduction | Interest rates reduction |
| "In the two years since this zone's announcement, very little has been announced and very few details released. | "In the two years since this zone's announcement, very little has been announced and very few details released. |
| "There is a long way to go on every enterprise zone in Wales and I am pleased that some progress is finally being made." | "There is a long way to go on every enterprise zone in Wales and I am pleased that some progress is finally being made." |
| The first minister also announced SMEs in enterprise zones will receive a 2% reduction in interest rates charged on new loans from Finance Wales - the Welsh government's investment bank. | The first minister also announced SMEs in enterprise zones will receive a 2% reduction in interest rates charged on new loans from Finance Wales - the Welsh government's investment bank. |
| The Federation of Small Businesses (FSB) in Wales said the announcement raises some questions. | |
| FSB Welsh Policy Unit chair Janet Jones said: "The announcement of a 2% cut in rates from Finance Wales for businesses in Welsh enterprise zones is welcome, but rather perplexing. | FSB Welsh Policy Unit chair Janet Jones said: "The announcement of a 2% cut in rates from Finance Wales for businesses in Welsh enterprise zones is welcome, but rather perplexing. |
| "The Welsh government's own report into access to finance by Professor Dylan Jones-Evans noted that Finance Wales' interest rates were often well above their regulatory requirements. | "The Welsh government's own report into access to finance by Professor Dylan Jones-Evans noted that Finance Wales' interest rates were often well above their regulatory requirements. |
| "FSB Wales agrees with that assessment, and this announcement suggests that there is more flexibility in Finance Wales' setting of its interest rates than was previously stated. | "FSB Wales agrees with that assessment, and this announcement suggests that there is more flexibility in Finance Wales' setting of its interest rates than was previously stated. |
| "In the light of this announcement we would call for Finance Wales to re-examine its rates as it appears that state aid rules do not require rates to be as high as they are at present," she added. | "In the light of this announcement we would call for Finance Wales to re-examine its rates as it appears that state aid rules do not require rates to be as high as they are at present," she added. |