A grant to Cardiff firm Geldards has taken the total of Welsh Government support to the legal sector to more than £750,000 since 2013.
Geldards, which has offices in Nottingham, Derby and London, announced today that it expanding its group headquarters in Cardiff city centre with the help of £127,000 in business finance. The money will create 25 new jobs and safeguard another 30, the Welsh Government said.
The expansion is part of the firm's plans to develop its UK and international legal service over the next 18-24 months. The Welsh Government said it will ensure that functions such as human resources and financial administration stay in Cardiff.
Jeff Pearson (pictured), chief executive, said: 'We are delighted to have worked with and receive the continued support of the Welsh Government in support of our long-term strategic goals. The backing received at this time will enable us to invest further in our Cardiff office to ensure our 150 years of growth and success in Wales and beyond continues well into the future.'
Welsh economy minister Edwina Hart said: 'The legal sector is going through some changing and challenging times so the news that Geldards is expanding its base in Cardiff and creating new jobs is particularly welcome. Geldards’ investment supports our strategy to grow the sector in Wales through attracting and expanding mid- and back-office functions and will cement its position as one of the leading exporters of legal services with headquarters in Wales.'
Since targeting the legal sector as a growth area, the Welsh Government has announced grants of at least £759,000 to firms. Grants include £100,000 to South Wales firm Howells Solicitors to create a conveyancing centre, £325,000 to Carbon Law Partners, £157,000 to NewLaw and £50,000 to Watkins & Gunn.
Cardiff says its investments in law firms comply with EU state aid rules under the general block exemption regulation, which permits certain categories of state aid deemed to bring benefits to society that outweigh possible distortion of competition.