Cardiff Capital Region’s Regional Cabinet have agreed its latest investment as it seeks to boost the south-east Wales economy in the wake of Covid-19.
£4.4m has been awarded to Zip World in the form of a 5 year repayable loan to replicate their successful North Wales adventure business on the CCR Tower Colliery site.
This investment will preserve and regenerate one of the most iconic sites in the region whilst creating significant economic benefits for the whole region. The Zip World Tower Project will create an anchor visitor destination in the City Region and, in so doing, will complement and support other regional attractions, as well as local suppliers, accommodation providers, cafes and shops. Set to be a world class destination, Zip World Tower will attract many new visitors to the region, providing yet another compelling reason to visit and stay in the area.
There are a number of tourist attractions in the area already, including: Penderyn Distillery, Garwnant Visitor Centre, Royal Mint, Cyfarthfa Park, Bike Park Wales and the intention is very much for Zip World to work closely with these businesses, harnessing the power of their hugely successful and internationally recognised brands to create a standout tourist destination within the region, for the benefit of all.
Councillor Andrew Morgan, CCR Cabinet board member and Leader RCT County Borough Council said: “I’m delighted that the Cardiff Capital Region Cabinet has approved the investment loan in Zip World. This project is an ambitious scheme that promises to bring many benefits to our regional leisure and hospitality sector, which has suffered badly during the Covid-19 pandemic. It has the potential to bring an extra 1 million visitors to South Wales over the first 5 years, provide much needed sustainable employment opportunities for the local communities and provide a tremendous boost to the wider regional economy.”
Sean Taylor, President and Founder of Zip World, said: ”This is our first site beyond the North Wales border and we are hugely proud and excited to bring our brand of adventure to the Valleys. Both the area’s landscape and rich mining heritage offers Zip World visitors something truly unique and an experience to remember with family and friends. We’re eager to meet local businesses, school groups and tourism sector organisations prior to opening in Spring 2021 to discuss ways in which we can work together.”