Major step forward on economic prosperity bid

PLANS to boost economic prosperity across the Swansea Bay City Region have taken a major step forward.

Swansea Council has now signed a pledge with Swansea University that will see both organisations working more closely together than ever to help generate economic growth, create more jobs, improve education and promote a culture of enterprise and innovation.

The agreement was signed within hours of Sir Terry Matthews and Edwina Hart, the Welsh Government’s Minister for Economy, Science and Transport, launching a new City of Innovation brand for the Swansea Bay City Region.

The agreement will build on Swansea University’s expertise in research and innovation and help encourage more trade and investment by tapping into its strategic partnerships in the USA, France and China.

Cllr Rob Stewart, Swansea Council Leader, said: “It’s our intention to make the Swansea Bay City Region economy internationally competitive, but we can’t do it alone.

“This is why partnerships with other local authorities, the private sector and organisations like Swansea University are so important because it means we can tap into their expertise and combine resources to work towards a shared goal.

“This agreement is especially timely because it coincides with the launch of a new City of Innovation brand for the City Region. Swansea University will be a key partner as we promote this brand in future because of the scale of its world class research in areas like life sciences, advanced engineering and ICT.

“This will doubtless help foster and encourage the development of an entrepreneurial culture across the City Region.”

Swansea University Vice Chancellor Professor Richard Davies said:

“This is a highly significant development for Swansea University which will help the region benefit from the opportunities created by a research-intensive university.

“Around the world we have seen major economic growth clustered around strong universities and Swansea University can replicate this in the Swansea Bay City Region, working with colleagues in local and Welsh Government.”

Both the university and the council will be responsible for monitoring the implementation of the agreement and the development of new projects with a common interest in future.