Over 100 new jobs set for Cwmbran

First published in News

A NEW insurance brokerage has set up in Cwmbran and is, with Welsh Government support, set to create more than 100 jobs.

Lloyd and Barnes is backed by £1million private finance, which is supported by £990,000 business finance from the Welsh Government to create 111 jobs over five years, 66 of which will be created in the first year.

Economy Minister Edwina Hart said: “Welsh Government support for this project ensured it is based in Wales as London was an option under consideration. It is a welcome addition to the fast-growing financial and professional services sector in Wales and highlights once again that Wales is proving to be a highly competitive location for businesses in this sector.

“This latest investment is set to create a significant number of new, well-paid, skilled jobs and make an important contribution to the economy.”

Lloyd and Barnes, which is based in Llantarnam Park, Cwmbran, and has already created 10 new jobs, is led by directors Andy Lloyd and Ortho Barnes.

Mr Barnes said: “Everyone at Lloyd and Barnes is very excited about the opportunity we’ve been given by the Welsh Government. The support we are receiving is helping us to build our business more quickly and to create high-value jobs throughout Wales.

“The business-friendly environment we have experienced in Wales has been a breath of fresh air; I’m sure other developing companies will be attracted by the support and guidance that the Welsh Government provides.”

Comments (6)

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2:00pm Wed 12 Mar 14

whatintheworld says...

almost 50% of the costs have been borne by the tax payer?!

when can i expect my shares?
almost 50% of the costs have been borne by the tax payer?! when can i expect my shares? whatintheworld
  • Score: 8

2:35pm Wed 12 Mar 14

Floppy backed says...

whatintheworld wrote:
almost 50% of the costs have been borne by the tax payer?!

when can i expect my shares?
agree, seems easy when you want some money WAG do no scrutiny. Lets hope its a profitable business and benefits the community. Bringing jobs is not enough, the jobs need to be well paid and long lasting.

WAG have a habit of handing out money to any organisation - look at the Wales Motor Circuit - awaiting the audit commissions report on handing out millions with no paper trail.

WAG should be concentrating on Wales infrastructure - the roads are in poor condition.
[quote][p][bold]whatintheworld[/bold] wrote: almost 50% of the costs have been borne by the tax payer?! when can i expect my shares?[/p][/quote]agree, seems easy when you want some money WAG do no scrutiny. Lets hope its a profitable business and benefits the community. Bringing jobs is not enough, the jobs need to be well paid and long lasting. WAG have a habit of handing out money to any organisation - look at the Wales Motor Circuit - awaiting the audit commissions report on handing out millions with no paper trail. WAG should be concentrating on Wales infrastructure - the roads are in poor condition. Floppy backed
  • Score: 2

3:16pm Wed 12 Mar 14

Abertillery29 says...

How long after the money runs out will they stay in Wales?
How long after the money runs out will they stay in Wales? Abertillery29
  • Score: 5

3:46pm Wed 12 Mar 14

Severn40 says...

Good news but worrying that a financial handout is being out. I presume or hope that due diligence has been carried out by the Welsh Government and this will bring lasting employment for this public investment. However, I am concerned that the Welsh Government does little to support smaller or start-up businesses. The loan rates offered by Cardiff Bay are above what High Street Banks offer and business rate relief is for a very short period. In an ideal world, Carwyn Jones and his Labour pals should be doing far more to nuture home grown local businesses.
Good news but worrying that a financial handout is being out. I presume or hope that due diligence has been carried out by the Welsh Government and this will bring lasting employment for this public investment. However, I am concerned that the Welsh Government does little to support smaller or start-up businesses. The loan rates offered by Cardiff Bay are above what High Street Banks offer and business rate relief is for a very short period. In an ideal world, Carwyn Jones and his Labour pals should be doing far more to nuture home grown local businesses. Severn40
  • Score: 4

6:29pm Wed 12 Mar 14

GardenVarietyMushroom says...

Isn't this exactly the sort of business that ReNewport et al wanted to attract to the town centre? And yet they're setting up in Cwmbran?
Isn't this exactly the sort of business that ReNewport et al wanted to attract to the town centre? And yet they're setting up in Cwmbran? GardenVarietyMushroom
  • Score: 0

10:03pm Thu 13 Mar 14

Aquarius says...

Any new jobs are welcome, but it seems a little concerning that some of these firms only want to set up if they can get a share of taxpayers cash.
Also, I am assuming that these are yet more call centre jobs? Fair enough, but does the Welsh Government have plans for stimulating any other type of industry in Wales?
Any new jobs are welcome, but it seems a little concerning that some of these firms only want to set up if they can get a share of taxpayers cash. Also, I am assuming that these are yet more call centre jobs? Fair enough, but does the Welsh Government have plans for stimulating any other type of industry in Wales? Aquarius
  • Score: 2

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