Region’s vital ingredient is trust among stakeholders

> Cardiff Capital Region has cultivated a ‘collective brain’ where different perspectives and experiences have enriched outcomes, says Frank Holmes

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TWO years ago, the Cardiff Capital Region’s (CCR) local authority leaders, chief executives, executive team and members of the Regional Economic Growth Partnership gathered to take stock.

We were five years into the City Deal's 20-year economic programme, with ambitious targets to create 25,000 jobs, leverage £4bn of investment, and uplift regional GVA (gross value added) by 5%.

The discussion was candid: which initiatives were on track, which had fallen short, and whether our industrial plan and investment focus could deliver on the promises made. What became clear was not just the progress against metrics, but something more intangible and arguably more valuable. Trust.

Over those formative years, a bond of trust had been built across a diverse coalition: politicians, civil servants, academics, business leaders, entrepreneurs, social enterprise champions, and infrastructure professionals. Together, we forged a governance framework, decision-making process and investment appetite that were respected and understood. In short, CCR had cultivated a “collective brain” where different perspectives and experiences enriched outcomes and built shared confidence through consistency and constancy.

The ‘rinse and repeat’ formula helps embed and ingrain behaviours that are reciprocal and valued.

Economics textbooks rarely emphasise it, but trust is an essential ingredient in growth.