The biggest ever investment across the South West Wales region has been secured following the approval of the £1.3billion Swansea Bay City Deal.
UK Prime Minister Theresa May, Secretary of State for Wales Alun Cairns, First Minister of Wales Carwyn Jones and Mark Drakeford Cabinet Secretary for Finance & Local Government met the Leaders of the four Councils of Carmarthenshire, Pembrokeshire, Swansea and Neath Port Talbot on 20th March, 2017 to sign the Deal for the Swansea Bay City Region.
The City Deal is expected to give the Swansea Bay City Region a permanent uplift in its GVA of £1.8 billion and will generate almost 10,000 new jobs over the next 15 years.
The total investment package is made up of £241 million UK and Welsh Government funding, £396 million other Public Sector investment and £637 million from the Private Sector.
The City Deal programme encompasses 11 projects across 4 key themes of Economic Acceleration, Life Science and Well-being, Energy, and Smart Manufacturing. An enhanced Digital Infrastructure & next generation wireless networks and the development of workforce skills and talent will underpin each.