Cardiff Council has agreed steps to support the governance of the Cardiff Capital Region Investment Zone, including arrangements for retaining and reinvesting additional business rates generated at designated sites.
At its meeting on 28 May 2026, the council's Cabinet noted progress with the programme and authorised further work on a memorandum of understanding covering non-domestic rates. The arrangement is intended to clarify how additional income associated with Investment Zone development would be managed and reinvested.
Cabinet also approved work to finalise Cardiff's participation in the Investment Zone Advisory Board. The wider programme is being developed with regional partners and the UK and Welsh governments, with a focus on advanced manufacturing and digital technology.
The governance arrangements are important because the Investment Zone involves multiple local authorities and longer-term decisions about projects, funding and investment sites.
The Cabinet decision clarifies part of the programme's governance and business rates arrangements. Those mechanisms shape how future investment can be coordinated, but do not themselves establish the economic outcomes anticipated for the zone.