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Mrs Hart said she is fully supportive of the work currently being undertaken to establish a software university in Newport and said the creation of a City Innovation Company is key to changing the city's fortune.
The Minister was formally responding to the six month report from the Newport Business Development Task Force published in December. It contained more than 50 recommendations covering five themes – work, learning, infrastructure, tourism and hospitality and history, heritage culture and sport.
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The Task Force, chaired by Professor Simon Gibson Chief Executive of Wesley Clover, was tasked with identifying the barriers to business growth in Newport and to examine ways to bring business life back into the City and make recommendations.
The Report highlighted the City Innovation Company will be focussed on the development of intellectual property and would be a digital innovation hub acting as a repository for attracting research funds, inward investors and providing support to the growth of SMEs. Welsh Government officials are currently working with the Task Force on plans to establish the company.
The Minister said: "The Report by the Task Force contained a number of highly innovative proposals designed to build on and develop the existing strengths of the city with the aim of creating jobs, stimulating the economy and supporting business.
"I would like to thank the Task Force for their commitment and hard work in gathering evidence and considering ideas from the public to create an innovative list of recommendations. Whilst not all of the recommendations are for government, I have instructed officials to work through each recommendation in detail with Professor Gibson.
"I look forward to this next phase of the project which will focus on implementing any short term agreed actions and ensuring that foundations are in place for the long term."
(CD/JP)
