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.”