The Welsh Labour Government has announced a new package of investment in Newport's QRL Radiator Group. For me, this represents another clear vote of confidence for business in the city.
The QRL Radiator Group are set to receive a £3 million loan from the Welsh Government Economy, Science & Transport department; helping the company create 120 new jobs and safeguarding a further 290 posts.
The newly rebranded QRL group, formerly Quinn Radiators, are based at Newport's Imperial Park industrial estate near Coedkernew. The company have capacity to produce up to 3.5 million radiators a year.
The creation of 120 jobs at QRL is great news for Newport, and a significant boost for the local economy. QRL are a local business success story, and join fellow Imperial Park-based company Essentra Packaging - who received grant funding in November - in being recognised by Welsh Government for their potential to boost the local manufacturing base.