The funding will pump prime the scheme enabling the Welsh Development Agency to put in new infrastructure. Proposals for the park are being drawn up and a planning application is expected to be submitted by the end of the year.
The site is currently owned by the Ministry of Defence and occupied by the Defence Aviation Repair Agency (DARA). DARA is expected to retain 100 acres for a 765,000 aircraft maintenance building with the remaining land to be set aside for a high-tech aviation centre.
The announcement follows a government decision not to relocate DARA to Cardiff International Airport. Instead, the aim is to capitalise on an already highly skilled labour force and build south Wales into an international centre for aviation.
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