After 12 years of working and investing in pump-priming schemes across Newport during a tough economic climate, the time has come for Newport Unlimited to close. And last Wednesday, it was my duty as the chair of Newport Unlimited to sign the paperwork that makes the closure official.

However, while Newport Unlimited may be coming to an end, it’s certainly not the end of the story, and there is so much to be excited about right now.

The regeneration baton will now be passed on to Newport City Council, which will continue to drive forward the city’s transformation, working closely with the government task force, re:Newport.

Meanwhile, there have been a number of funding announcements since January from the Welsh Government which are going to significantly boost regeneration efforts, not least the £14.9m awarded to the city as part of the Vibrant and Viable Places framework. This will contribute to a housing and heritage-led regeneration programme which will help create up to 600 new jobs, provide more than 420 homes, upgrade a further 160 and assist more than 850 people to gain work-based learning and skills opportunities.

The positive effects of the galvanising Newport Summit, which I talked about in my last column, are still being felt, and it’s been indicated that there may be further funding provided by the Welsh Government for feasibility studies to help develop the action plan arising from the recommendations of the re:Newport Task Force.

But it’s not simply about funding of future projects.

There is activity on the ground right now that gives a real reassurance that progress is happening, and quickly. Friars Walk is on site and you can currently see a real buzz of activity as the developers start to get the scheme ready for the 2015 completion.

Admiral is due to open shortly, which will attract a stream of workers into the heart of the city centre, and Sennybridge will soon be transforming the last pocket of land at Old Town Dock into an exciting mixed-use development.

It remains for me to thank the excellent work that my colleagues have done over the past 12 years and to wish Newport City Council and re:Newport every success in taking the regeneration on to the next exciting stage.