The establishment of Corporate Joint Committees (CJCs) marks a significant step forward in how we approach regional governance and public investment in Wales, and nowhere is this more evident than in the Cardiff Capital Region.
Since the adoption of the regulations in 2021, our CJC has been actively shaping the future of our region by fulfilling its three main statutory duties: promoting economic well-being, developing comprehensive transport plans, and advancing strategic planning.
For us in the Cardiff Capital Region, the role of the CJC has been instrumental in breathing new life into these duties.
Looking ahead, our city deal, our initiatives with the Shared Prosperity Fund, and our upcoming work with the investment fund are all geared towards fulfilling our duty to enhance economic well-being.
We have managed the Cardiff Capital Region City Deal and our CJC as separate entities, but over the past 12 to 18 months, we have been diligently working to merge them into a unified model for delivering regional public investment.
This transition hasn’t been without its challenges. It has required us to keep existing programs running smoothly, while also laying the groundwork for a new organisational structure.
We’ve moved nearly 50 staff to the new corporate legal entity and have been diligently setting up the policies, procedures, and mechanisms needed to meet our legal and corporate responsibilities. This includes commitments to wellbeing, biodiversity, the Welsh language, public sector equality, and child poverty.
Our focus has been on building a solid foundation so that we can achieve more powerful outcomes.
By integrating our vision for transport, land use planning, and economic goals, we can adopt a more strategic approach. For example, coordinating housing developments with areas that have quality jobs and effective transport links promotes economic growth while also minimising our carbon footprint.
One of our most exciting projects to date is the acquisition of the former Aberthaw Power Station, a key strategic asset that we aim to transform into a new green energy hub.
This initiative highlights the vast potential of CJCs. With the ability to borrow, acquire assets, and raise taxes, we have a unique opportunity to leverage our financial resources and make transformative investments that support our long-term vision for the region.
Setting up our CJC has always been about unlocking value and realising the potential to do more. Through an evergreen approach, making investments that are repaid and reinvested, we’re creating a cycle of continuous improvement and opportunity.
For us, the value of the CJC is clear, and it is underpinned by three core drivers beyond the statutory duties.
First, enhancing regional governance. We are focused on ensuring that the Cardiff Capital Region can clearly articulate what makes it unique and leverage its strengths. It’s not about trying to be all things to all people, it’s about recognising where scale and critical mass provide a competitive advantage.
Second, advancing policymaking. There’s enormous value in developing a modern industrial strategy that goes beyond traditional industrialisation. It’s about place-making, fostering new industries, reducing poverty, and creating local growth strategies around key sectors and clusters.
Lastly, creating a robust investment framework. Making our region investable requires more than just attracting foreign direct investment. It’s about understanding our financial position, leveraging our balance sheet, and exploring all avenues for investment, from the UK Infrastructure Bank to potential tax-raising powers through investment zones and business rates.
In essence, CJCs are about creating a whole that is greater than the sum of its parts. By bringing together our strengths, resources, and ambitions, we can build a brighter future for the Cardiff Capital Region and beyond.
