Construction News

08/01/2016

Chancellor Pledges £50m Investment For Welsh Innovation Centre

Chancellor George Osbourne has announced a £50 million investment to create a new technology innovation centre in Wales.

The new 'Compound Semiconductor Applications Catapult' will be funded by £10 million of government investment per year up to 2020.

The facility will specialise in researching compound semiconductors - technology behind devices including smart phones.

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The location of the centre is to be confirmed in 'due course', ministers said.

Chancellor Osbourne said: "Backing cutting edge science and innovation is at the heart of our long term plan to support Welsh people at every stage of their lives.

"That is why I am today announcing £50m of new funding for a national semiconductor innovation centre, to bring together leading scientists and businesses to one hub in Wales."

(LM)

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