SWANSEA BAY CITY REGION £500MILLION BID

The Swansea Bay City Region has submitted a ground-breaking ‘Internet Coast’ City Deal bid, in excess of £500m over 20 years, to the UK and Welsh Governments.

The aim is to address the integrated universal themes and challenges of energy, health and well-being and economic acceleration by harnessing the transformational power of digital networks and the asset base of Swansea Bay. It is estimated that the City Deal investment could lever in total around £3.3bn of output and £1.3bn of gross value added for Wales, while supporting around 39,000 jobs in the region.

Chair of the Swansea Bay City Region Board Sir Terry Matthews said: “Swansea Bay became world famous in ‘the first machine age’. We aim to re-energise a vibrant and pioneering role in Wales and the UK as the world now enters ‘a new digital machine age.’

“There are echoes of the Industrial Revolution in this vision and I am pleased to be leading the region as we aim for a new place in the global economy.  I can clearly see a Swansea Bay that is globally recognised for innovation and economic acceleration once again, ideally located on ‘a digital super highway connecting the UK and North America – London and New York.

“Think of the way the internet and broadband networks have transformed communications worldwide. Now imagine the same principle applied to future energy systems, to health and well-being and any number of other sectors. It is a massive opportunity and with City Deal support we can take a lead position in Wales and make our wider contribution to the UK and to Europe.”

“In my letter to the Chancellor I have described the widest possible regional public sector commitment to this City Deal bid as ‘a leap of faith’ that has immense value. I sincerely hope that the bold vision and support is recognised by Government in Westminster and Cardiff Bay.

“I know also that there are many private sector partners, here in Swansea Bay, across Wales and the UK and around the world who are enthused by our ‘leap of logic’.

“We need to incubate, launch and grow an ecosystem of new, successful and fast growing companies here in Swansea Bay. With the clarity, direction and impetus that a City Deal can provide just watch us ‘move that needle’ to a higher level of growth”

Endorsing the importance of the rural economy in the Swansea Bay City Deal bid Councillor Emlyn Dole, Leader of Carmarthenshire County Council said: “The City Deal provides a real opportunity to push forward growth in our region and importantly the rural economy of West Wales.

“We have strong foundations upon which to build  including the strategic employment site at Cross Hands creative industries boosted by the Year Egin project in Carmarthen and our ambitious plans for a Wellness and Life Science Village at Delta Lakes Llanelli.”

Swansea City Region Vice Chair Cllr Meryl Gravell added: “The focus of the City Deal on boosting broadband connectivity infrastructure is vital for other key sectors such as tourism and the focus on health and social care is also crucial for delivering better services across rural West Wales”.

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