First Minister to visit Deloitte to hear expansion plans thanks to £3.5million of Welsh Government support
7 January 2015
The First Minister announced the new jobs at the end of November ahead of a major UK Investment Summit at the Celtic Manor. The 700 new jobs are being supported by £3.5million of Welsh Government Repayable Business Finance.
Repayable Business Finance is available to help fund capital investment, job creation, research, development and innovation and certain eligible revenue projects such as diversification into new areas of activity.
Speaking ahead of the visit Carwyn Jones said: “I’m really looking forward to visiting Deloitte in Cardiff today to meet staff and hear about their significant expansion and diversification plans.
“It’s fantastic that through Welsh Government funding we’re supporting a major employer in Wales to create 700 new jobs outside London over the next five years.
“We’re looking to make Central Cardiff Enterprise Zone the location of choice for financial and professional services operations in the UK outside of London. The new jobs being created at Deloitte’s Centre of Excellence are as a result of demand amongst the banks, financial institutions and Life Sciences industries for services related to governance, risk and compliance and that’s to be welcomed.
“I hope that our significant investment in Deloitte will draw the attention of other international companies looking to invest in Wales. We’re becoming the first choice for businesses looking to expand their operations and we’re proud to be supporting business growth, strengthening and delivering for our economy.”
Wayne Harvey, Deloitte’s senior partner in Wales said: “We are thrilled to be able to bring this jobs growth to Wales, working with the Welsh Government in support of the local workforce in and around Cardiff.
“The scale of the project represents a new direction for Deloitte recruitment, offering rewarding and stable careers to a vast range of people. Our people can be proud that the delivery centre will develop into a strategic enabler for our business. Work done here in Wales will have an impact on the success of our whole business and that of our clients.”
Ross Flanigan, director of Deloitte’s Cardiff Delivery Centre, said: “Our firm has significant growth plans over the next few years, and the extensive expansion of business operations in Cardiff will enable our direct client-facing staff to spend much more time on their core work and developing their client relationships.
“The operation will work across our business nationally and internationally, but also has a great effect locally. We are offering stable employment and rewarding careers to people who might not have pursued our more traditional graduate and accountancy pathways. For example, we are developing apprenticeships and exploring participation in the Welsh Financial Services Graduate Programme. Overall, this expansion is great for Deloitte and a tremendous boost in opportunities for the local workforce.”
Cardiff is forecast to have the highest population growth rate of any UK city over the next 20 years.
Two million people of working age live within a 45 minute commute of the city; more than 50,000 people work in F&PS, 20,000 in financial services; three business friendly universities support 70,000 students of which 20,000 study tailored business-related courses (eg Accounting, Banking, Economics and Law); great workforce loyalty with staff turnover averaging 5%.
Cardiff has great digital infrastructure, an Internet Exchange (from Dec 2014) and close to Europe’s largest Tier 3 Data Centre.
Cardiff has a property development pipeline of c 400,000 square feet over the next 3 years within 5 minute walk of the train station; Grade A occupancy costs average around 40% of prime sites in central London.
The majority of Central Cardiff Enterprise Zone has Tier C status with up to: €2m of government support for skills and training; €7.5m of support for research and innovation; and €400,000 of ultra-flexible de-minimis support over 4 years.
Cardiff is only 2 hours from London Paddington falling to 1 hour 45 minutes by 2018 when Canary Wharf will be 2 hours door to door. It also has the distinction of being the Best City for Quality of Life - European Cities Survey 2014, Moneysupermarket Research 2014 and Legal & General Report 2013
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.
Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.
The information contained in this press release is correct at the time of going to press.
Member of Deloitte Touche Tohmatsu Limited.