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The new Circuit of Wales racetrack took a giant leap forward this afternoon when it was given unanimous planning approval in Blaenau Gwent.

Councillors in Blaenau Gwent voted in favour of the motorsport track, which is anticipated to provide a boost to jobs and tourism throughout the region.

The 830 acre redevelopment is estimated to attract 750,000 visitors a year, and provide more than 3,000 jobs in construction and post development, 90% of which will be locally sourced.

It is further estimated to inject £50m worth of revenue into the Blaenau Gwent.

Leader of Blaenau Gwent Council, Hedley McCarthy, said: "I am delighted by the decision today as it is some good news we can all share.

"The Circuit of Wales is a world-class development which will truly transform Blaenau Gwent and the local economy.

"It is a massive project to undertake but the benefits for us all are huge. There will be the creation of thousands of jobs when the circuit comes into operation plus the development of engineering, science and technology businesses."

Chief executive officer of the Heads of the Valleys Development Company, Michael Carrick, said: "We are excited, it's not often that you get a unanimous decision.

"Now there is a lot of work to happen now. This decision has given us the confidence to move forward to a detailed design stage, and meet the obligations of section 106 agreements of the council.

"We will fully detail the design over the next six months with a view to start construction in the back end of this year through to next year, and open it by the back end of 2015 ready for the 2016 Motorsport season."

Among those welcoming the news was motor sports management firm Dorna.

Chief executive Carmelo Ezpeleta said: “It’s fantastic. I think this is a very important programme for MotoGP and for motor sport in general.

“It is good for the area, good for the community and the team behind it will have our help whatever they need.

“We have already been working with them and we will continue to do so.”

And members of the Blaenau Gwent youth forum also backed the project – saying it would give young people in the area something to be proud of.

However, the scheme had been met with opposition amid concerns about the environment.

Among them was the Open Spaces Society, who expressed concern about the circuit damaging common land on the edge of the Brecon Beacons National Park.

And environmental watchdog Natural Resources Wales (NRW) said the scale of the circuit would have “unacceptable environmental impacts”, including impacts on the special qualities of the protected landscape.

Councillors debated the issue for around an hour in Blaenau Gwent Council’s main chamber.

Rassau ward member David Wiltshire asked questions about noise levels impacting on local residents, while Cwmtillery’s representative sought answers about any knock-on effects to traffic in the area.

However, during a full meeting of Blaenau Gwent Council members granted outline planning approval.

It means that HVDC will now have to go away and draw up more detailed plans before the scheme can get the final rubber stamp.

Mr Carrick said that when the circuit was up and running HVDC was hoping that 90% of the jobs would be filled by local people.

He said: “In the UK alone the Circuit of Wales is a big infrastructure project - but when you consider the area that it is based in it is going to be even more important.

“There will be massive opportunities not just for Ebbw Vale but for the Valleys as a whole in developing a new industry.

“As well as the race track, the project is also going to feature real estate and retail outlets which will ensure it becomes commercially viable and sustainable.”

Mr Carrick also believed that the Circuit of Wales will become to motor sport what the Millennium Stadium is to rugby.

“There are already a number of race tracks across the UK, and it’s true that Silverstone is home to F1. But the Circuit of Wales will be a bespoke venue that we aim to bring events like MotoGP – an event that Silverstone doesn’t offer.

“There is also a big appetite in Wales for motor sport – so there is a definite gap in the market.

“As well as the big events, the plan is to become the destination of choice for the countless amateur motor sport organisations up and down the country as well offering competitive prices for young motor sport enthusiasts in the area.”

Mr Carrick said the latter could also help local communities facing problems with off-road bikers.