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Business

UK’s largest semiconductor facility secures major investment

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Newport factory to support 500 new jobs and play vital role in EV supply chain

WALES is set to benefit from a £250 million investment into its advanced manufacturing sector, as US tech giant Vishay Intertechnology commits to expanding operations at the UK’s largest semiconductor facility in Newport.

The investment is a major vote of confidence in Wales’s industrial capabilities and will further strengthen South Wales’s status as home to the world’s first Compound Semiconductor Cluster. It comes as part of the UK government’s Plan for Change to grow the economy, support skilled jobs, and enhance national resilience in critical sectors.

Chancellor of the Exchequer Rachel Reeves will visit the Newport site today (Thursday, March 27) to formally welcome the investment, which will boost production of Silicon Carbide semiconductors—an essential component in electric vehicles (EVs). These next-generation chips enable faster battery charging, improved energy efficiency, and extended driving ranges.

The development is expected to directly create over 500 high-value, highly-skilled jobs in Newport and support hundreds more across the wider supply chain. The project is backed by the UK’s Automotive Transformation Fund (ATF), which supports innovation and domestic supply in critical technologies such as semiconductors.

Chancellor Rachel Reeves said: “Under this government, the UK is open for business. This is exactly the type of investment that will help us grow the economy, create highly-skilled jobs, and boost opportunity across the country, as we deliver on our Plan for Change to get more money into working people’s pockets.”

The investment follows the Chancellor’s Spring Statement, where she announced a “new era of security and national renewal.” The Office for Budget Responsibility has upgraded growth forecasts for 2026 and beyond, with households expected to be £500 better off per year by the end of this Parliament compared to under the previous government.

The announcement marks a major step in the UK’s ambition to become a global leader in advanced manufacturing. From 2010 to 2023, the UK saw the fastest growth in manufacturing productivity per job among G7 nations.

Business and Trade Secretary Jonathan Reynolds said:
“This is a huge vote of confidence in the Welsh economy and our plans to make Britain the destination of choice for investment in the industries of tomorrow. Vishay’s investment will help secure a domestic supply of semiconductors for our world-leading automotive and clean energy sectors—key drivers of long-term economic growth.”

Secretary of State for Wales Jo Stevens added:
“This massive investment by Vishay and the UK Government is a huge boost for Wales’s world-leading semiconductor industry. It will build on the success of our advanced manufacturing, renewable energy, and defence sectors—creating and supporting hundreds of skilled, well-paid jobs across South Wales.”

Vishay’s Chief Operating Officer for Semiconductors and Chief Technology Officer, Roy Shoshani, said:
“This is an exciting moment and the beginning of our growth journey in the UK. With a skilled workforce and strong government backing through the Industrial Strategy, the UK has an opportunity to lead in advanced semiconductor manufacturing—enhancing economic security and helping deliver Net Zero.”

The investment coincides with the Chancellor’s participation in the Invest in Women Taskforce roundtable in Wales, which has secured over £250 million in funding commitments for female entrepreneurs.

The Automotive Transformation Fund—delivered in partnership with the Advanced Propulsion Centre (APC)—has already helped unlock more than £6 billion in private sector investment for the UK’s transition to zero-emission vehicles. In addition, the Autumn Budget committed over £2 billion to capital and R&D funding for zero-emission vehicle manufacturing over the next five years.

Mike Hawes, Chief Executive of the Society of Motor Manufacturers and Traders (SMMT), said:
“This significant investment in compound semiconductors is a huge contribution to the innovation and advanced technology necessary to drive the future of UK automotive. British-made next-generation semiconductors will create jobs, support supply chains, and enhance the UK’s strategic capabilities.”

Business

Loss-making Haverfordwest Airport has official new operators

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HAVERFORDWEST’S airport officially has a private operator, which has leased the previously loss-making council-owned facility, promising to “breathe new life into such an iconic gateway”.

Back in 2024, members of Pembrokeshire County Council’s Cabinet supported the leasing of the council-run Withybush Airport as part of plans to make the facility cost-neutral to the authority.

In 2023, Cabinet members heard the financial position at the council-supported Haverfordwest/Withybush airport deteriorated in 2022/23, with an out-turn position for 2022/23 of £238,000.

That loss was been reduced to an expected £119,000 for 2023/24 “following an extensive review of the operations of the airport”.

Cabinet members, back in 2024, heard there would be a requirement on leases to obtain/keep a CAA [Civil Aviation Authority] Cat II licence and at a market rent, which would “make the airport cost-neutral to the council from the day the lease is signed, whilst also ensuring that an operational airport remains for Pembrokeshire to benefit from”.

Deputy Leader Cllr Paul Miller at the time said: “The airport is a valuable facility and one I’m keen to maintain; I personally recognise that maintaining an ongoing public subsidy is not something we’re particularly keen to do indefinitely.”

He added: “What the lease, we believe, will do is maintain a franchising CAT II airport in Haverfordwest and remove our liability from day one.”

At the March 2025 meeting of Pembrokeshire County Council’s Services Overview and Scrutiny Committee, members heard the final paperwork was “on track” to hand the airport over to the new operators by the start of April, with the facility becoming “cost-neutral” to the authority “from the moment it’s handed over to the operator”.

On April 1, Haverfordwest Airport Limited took the lease on the airport, officially taking over its management from the council.

Haverfordwest Airport Limited has said: “We are absolutely thrilled to be a part of this exciting new chapter as the proud operators of Haverfordwest Airport.

“This is a remarkable opportunity for us to breathe new life into such an iconic gateway, and we are committed to enhancing the airport’s facilities and services for the benefit of the community, visitors, and businesses alike.

“We also recognise the importance of Haverfordwest Airport to the emergency services, and we are dedicated to continuing our support for their vital operations, 24/7, 365 days a year.

“We would like to acknowledge the hard work of Pembrokeshire County Council in getting us to this point, and we look forward to driving the airport’s growth, innovation, and connectivity in the years ahead.”

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Business

£20m investment to unlock Cardiff Airport’s potential and drive South Wales growth

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THE WELSH Government has confirmed the first phase of a major new investment package for Cardiff Airport, pledging £20 million to boost economic development and secure the long-term future of the site.

The funding marks the beginning of a ten-year programme designed to harness the airport’s capacity as a strategic asset for Wales. The scheme is expected to drive further growth across the South Wales region and create new opportunities in aviation, logistics, and employment.

Announcing the investment on Wednesday (Apr 2), Cabinet Secretary for Economy, Energy and Planning, Rebecca Evans MS, said the Welsh Government had completed due diligence on the proposals, including a review by the Competition and Markets Authority.

Ms Evans said: “We remain committed to the growth of this essential economic infrastructure, which currently generates over £200 million in Gross Value Added (GVA) annually and supports thousands of jobs in the South Wales region.”

Plans under the investment include potential development of aircraft maintenance facilities, improved cargo handling capabilities, and support for general aviation. Some of the funding will also be used to explore new air routes, with an emphasis on improving connectivity and Wales’ presence in global markets.

The £20 million commitment follows a previous announcement in July 2024, where the Welsh Government outlined its ambition to make Cardiff Airport a catalyst for economic expansion in Wales. This latest funding, according to Ms Evans, will help the region realise that vision and support a “vibrant and outward-facing” national economy.

Officials will monitor the impact of the funding throughout the ten-year period, with performance reviews planned and a focus on minimising subsidies while delivering value for money.

A record of the financial award will be published on the UK subsidy transparency database.

However, the decision has sparked criticism from the Welsh Conservatives, who renewed their call for the airport to be sold to the private sector.

Welsh Conservative Shadow Cabinet Secretary for Transport and Infrastructure, Peter Fox MS, said: “The Labour Government’s decision to inject the first £20 million of a planned £200 million into Cardiff Airport will bring the total amount of Welsh taxpayer money invested to over £200 million.

“Cardiff Airport is a financial burden on the Labour Welsh Government and Welsh taxpayers, and it is time for Labour to finally do the right thing and sell the airport to the private sector.

“Ministers in Cardiff Bay lack the essential expertise to manage an airport. That is why an experienced corporation in the private sector, with proven industry knowledge, would be better placed to ensure the airport not only survives but thrives.”

The Herald understands that further investment decisions will be made as the programme progresses, depending on the outcomes and economic impact of the initial phase.

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Business

West Wales tourist attraction’s new water park hopes

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WEST WALES could have a new water park attraction in proposals being mooted by the award-winning Moody Cow Farm Shop and Welsh Kitchen, near Aberaeron, Ceredigion.

The award-winning Moody Cow Farm Shop and Welsh Kitchen, along with Bargoed Farm, is owned by Chris and Geraint Thomas.

The couple moved to the derelict farm in 2010 after previously diversifying their cattle farm in the Brecon Beacons, but then losing everything due to legal issues.

They completely transformed the site before opening Bargoed Farm Campsite in 2018 and using wooden hot tubs as a unique way to bring in customers.

Chris and Geraint then launched The Moody Cow Farm Shop and Welsh Kitchen, serving up a wide range of Welsh dishes created using local ingredients.

Over the years, the attraction has expanded, recently gaining permission for a trampoline park on-site, called the ‘Bouncing Bull,’ and, back in 2023, was given planning permission expand its on-site caravan park with new tourer pitches with hot tubs, and glamping accommodation.

Bargoed Farm has now launched a public consultation on proposals to expand the attraction with a water park and leisure facility.

Details of exactly what is proposed have not been released yet.

The consultation, available online through surveymonkey or from Bargoed Farm, says: “Bargoed Farm is planning an exciting new indoor and outdoor waterpark and leisure facility, designed to provide year-round water-based activities for visitors and the local community.

“This new development will include indoor and outdoor swimming pools, thrilling water slides, a dedicated training pool, a children’s splash area, and a warm activity pool, ensuring that people of all ages and abilities can enjoy high-quality aquatic experiences in all seasons.

“Our aim is to create a premier leisure attraction in Mid Wales, offering family fun, fitness, and relaxation, while also supporting the local economy by drawing more visitors to the area.

“As we progress with the planning and development of this project, we are committed to ensuring that the views and needs of both local residents and visitors are fully considered. This survey has been created to gather your feedback on how you would use the facility, what features are most important to you, and how we can make it as accessible and enjoyable as possible.

“Your insights will directly influence the final design of the waterpark, helping us to shape it into a valuable asset for the local community and a must-visit destination for tourists.

“By taking part, you are helping to ensure that this development is designed in a way that best serves those who will use it most.

“We greatly appreciate your time in completing this survey.

“Whether you are a local resident looking for improved swimming facilities, a visitor who would love a high-quality waterpark in the region, or a business owner interested in how this could boost the local economy, your feedback is essential in shaping the future of this exciting new project.”

Bargoed Farm, which publicised the proposals on March 31/April 1, has confirmed the scheme was not an April Fools.

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