Formation 2002 Purpose Urban regeneration Chief Executive Gillian Otlet Founded 2002 | Legal status Corporation Region served City of Newport Headquarters Newport, United Kingdom Extinction 2014 | |
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Type of business Public/private partnership | ||
Newport Unlimited was an Urban Regeneration Company created in 2003 to help counter the impacts of the decline in heavy industry and manufacturing in the city of Newport, South Wales. It was initially given a 10-year lifespan.
The company was founded by Newport City Council and the Welsh Government. During its tenure it contributed to attracting £230 million of private investment to the area. It was credited with the transformation of the city's river frontage and attracting the Ryder Cup golf tournament to Newport in 2010. The company's role was extended by a further year in 2012.
In January 2013 a leaked report showed that the company's funding would cease in April 2013, with the city council believing it could save money by bringing the work in-house. In October 2013 Newport Council made a bid for funds from the Welsh Government to enable the council to continue the regeneration process.