A hundred jobs are to be created by GE Aviation Wales at its aircraft engine maintenance factory in Nantgarw.
The skilled jobs will be for aircraft engineers and, according to its managing director Adrian Button, will play an “important role in our expansion plans”.
The expansion follows a growing demand for servicing of the GE90 aircraft engine.
The factory currently employs 1,100 staff and has an annual turnover of nearly £1.25bn.
Mr Button added: “In the face of difficult global economic conditions, GE has continued to invest in technology and jobs at GE Aviation Wales.
“The decision to invest in 100 new highly-skilled jobs will play an important role in our expansion plans.
“By investing in strong talent we will ensure that GE Aviation Wales continues to offer a world-class service.”
The US-owned GE Aviation has also signed a “major new” contract servicing 130 engines over the next five years.
An official announcement was made at the Senedd hosted by Caerphilly AM Jeff Cuthbert and Pontypridd AM Jane Davidson.
Mr Cuthbert said: “I am really pleased that a big local employer like GE Aviation has decided to make such a significant investment here near Caerphilly.
“These are quality, high-skilled jobs which are very much in demand at the moment – indeed, GE’s growing order book shows that the need for engineering jobs is stronger than ever.
“It’s jobs and investments like this which are crucial to the local economy like this, especially given the austere financial climate that has been brought about by the UK Government’s vicious cuts programme.
“This is a long-term investment and a vote of confidence in the area – it is great news.”
Good news, but how many of these highly skilled, well paid positions will be filled by local people seeking employment? My guess is not many.