Welsh industry and business - enterprise in Wales

Wales is a nation built on enterprise and innovation. Our coal mines once fuelled the Industrial Revolution, and Welsh smelting works produced more copper than anywhere else on earth. Slate from our quarries roofed the world, from New York to New South Wales.

In the 20th century, manufacturing and heavy industry shared the stage with new forms of enterprise. Wales became known for precision engineering and high-tech electronics, welcoming some of the biggest corporations from Europe, America and the Far East.

Today, Wales has become a unique business environment where collaboration drives success. Our high-growth industries enjoy close partnership with eight world-class universities, and the support of a devolved government that can make things happen at speed.

What’s more, Wales was the first nation to pass legislation protecting the rights of future generations. Sustainability is at the heart of all our priority sectors, including renewable energy, life sciences, compound semiconductors, technology, advanced manufacturing and the creative industries.

It’s quite a journey from the furnaces of our copperworks to the spotlessly clean rooms where the world’s most advanced semiconductors are made. But however much our industries change, the fundamentals are the same: Wales is a place where talent thrives, and ideas can take flight.

Coal powered our past, but our future lies in renewable energy – from the wind, from the waves, and from cleanly generated hydrogen. Just as Wales once sent its anthracite around the world, we’re now a net exporter of electricity.

Our 1,200km coastline is ideal for offshore wind generation, with three sites already operational. By 2030, wind will power four million households, creating 29,000 jobs and a £4.5billion economic impact.

We’ve developed the infrastructure to help energy innovators harness our abundant natural resources. Our marine test zones are valuable proving grounds for technologies that could help meet the world’s future energy needs, such as tidal power. And our two freeports, in Anglesey and South Wales, are helping to attract investment with tax incentives, streamlined customs processes and sites ready for development.

Compound semiconductors are vital to artificial intelligence, self-driving vehicles, advanced medical devices – even the smartphone in your pocket.

Many of the chips are developed and manufactured in Wales, a nation with 40 years of semiconductor expertise. We’re home to the world’s first compound semiconductor cluster: a tight ecosystem of tech companies and specialist research centres, collaborating under the name of CSconnected.

Its capabilities make Wales a semiconductor one-stop shop, with businesses that span the entire supply chain – from wafer production and chip processing to equipment manufacturing and packaging, all in a concentrated area of South East Wales.

Our approach attracts top global players. In 2025, KLA opened a new 237,000 square foot R&D and manufacturing facility in Newport, supplying chip fabrication equipment to the world. Just five miles away, Vishay operates the UK’s largest semiconductor manufacturing plant.

Life sciences is the umbrella term for the study of living organisms and processes – and the use of this knowledge to improve people's lives.

More than 300 life sciences companies are tackling today’s healthcare challenges in Wales. They represent a vast range of specialisms, from genomics and advanced diagnostics to medical imaging – but all of them benefit from industry networks that tie the sector together.

For 30 years, MediWales has served as an independent life science network for Wales, connecting universities, businesses, care providers and the clinical community. Life Sciences Hub Wales, based in Cardiff, is another beacon of cross-sector co-operation, helping to develop the most promising breakthroughs for frontline use.

The Welsh Government is a vital spoke in our ecosystem, with national programmes in genomics, pathology, imaging and advanced therapies. Wales also has its own devolved National Health Service, granting access to high-quality anonymised healthcare data.

All this has earned Wales a global reputation in fast-moving markets such as medtech, diagnostics, regenerative medicine and cell therapy. It’s now a sector worth £2.8 billion, employing a skilled workforce of 13,000 people.

Wales has one of the fastest-growing digital economies outside London. Our tech sector is worth an estimated £8.5 billion, providing jobs for around 13,000 people. From challenger banks to cybersecurity innovators, it’s a dynamic, collaborative ecosystem.

Our universities are key partners, providing research and development capability, generating spin-out companies, and producing graduates with the skills to keep the sector growing.

More than 30 incubators and accelerators transform ideas into thriving businesses. They include Tramshed Tech, which provides start-ups with flexible workspaces, mentoring and digital skills. The networking community FinTech Wales connects new businesses with both expertise and investment.

Indeed, FinTech is particularly strong in Wales – partly thanks to a buoyant financial services sector that employs more than 63,000 people. We’re a global leader in cybersecurity, too, with active North and South Wales cyber clusters and more than 150 companies developing the capabilities to protect critical computer systems.

Wales manufactures for the world. We export aircraft wings to France, cable systems to Japan, air conditioning units to the Middle East, and many more advanced products and components destined for markets around the globe.

In all, Wales is home to more than 5,000 manufacturing companies, with a workforce of over 150,000 people. Key subsectors include aerospace, automotive, precision engineering and robotics.

While manufacturing is anchored in our industrial heritage, it’s among our most forward-looking sectors. Since 2019, AMRC Cymru in North Wales – part of the University of Sheffield’s Advanced Manufacturing Research Centre – has been harnessing world-leading research to transform how the industry works.

South Wales is soon to have a new innovation hub of its own. The Global Centre of Rail Excellence will research and test out the technologies to build tomorrow’s railway networks – making transport better, faster and more sustainable throughout the UK and Europe.

Wales has graced the screen in international hits ranging from Doctor Who and Sherlock to His Dark Materials and Sex Education. Behind the camera, our film and TV industry is thriving, with world-class facilities to match our beautiful locations.

More than 90,000 people work in the creative industries, producing an annual turnover of £3.8 billion. They’re supported by Creative Wales, established by the Welsh Government to drive growth in film, TV, music, gaming and digital arts.

Our production facilities, such as Wolf Studios in Cardiff, can accommodate the greatest feats of imagination. They’re served by a constellation of specialists, dealing with everything from lighting hire to set design, post-production and VFX. And digital arts are booming, with games from independent developers like Wales Interactive entertaining millions around the world.

The greatest asset of any business, industry or nation is its people. Wales has a talented, motivated workforce, attracted by our beautiful surroundings, vibrant culture and strong international outlook.

Living in Wales means never being far from the natural splendour of our mountains, valleys and coastline. Our great outdoors has three National Parks, five National Landscapes, Dark Skies Reserves, UNESCO sites, and lots and lots of castles.

Work-life balance is what keeps people here. Great career opportunities come hand in hand with an enviable quality of life – ensuring everyone can reach their potential and contribute to the nation’s growth.