The document discusses factors that influence the location of industry and how industry has changed over time in South Wales. It notes that traditional heavy industries like coal and steel declined as raw materials became exhausted. New industries have located in South Wales due to incentives and being near ports for importing raw materials. Industries have shifted from heavy to high-tech and light manufacturing, moving from 'soot' to 'Sony'. Regional assistance through groups like the Welsh Development Agency has attracted foreign investment and created new jobs.