Ken Skates gives £3m to creative hub
The Welsh Government is backing the planned Yr Egin creative industries hub for Carmarthen with a £3m funding commitment.
As well as serving as the new HQ for Welsh-language channel S4C, it will also house other creative businesses.
The £23m project is also seeking funding from the proposed £1.3bn City Deal for the Swansea Bay City Region.
The project, driven by the University of Wales Trinity St David, plans to open in 2018. S4C has agreed to pay 20 years in rent of £3m upfront to the university.
In the City Deal submission to the UK Government, Yr Egin, which will extend to nearly 40,000 sq ft, is projected to create 203 jobs over 15 years.
It is seeking £5m in City Deal funding, £16.3m in public sector financing and £3m from the private sector.
Confirming the Welsh Government funding, Economy Secretary Ken Skates said: “Having considered the overall potential economic, cultural and educational benefits of this project, I am pleased to announce that the Welsh Government will be investing £3m in 2017-18 to support Yr Egin.
“The investment will help to deliver the infrastructure needed to support the university’s vision of a cluster of creative businesses in Carmarthen.
“Our support for Yr Egin will help Carmarthen to capitalise and build on S4C’s decision to locate its headquarters there and will help provide space and networking opportunities for other businesses, the university, students and entrepreneurs.”
A spokesman for the university said: “We look forward to working with the Welsh Government and other stakeholders on the project which will bring cultural and economic regeneration to the region.”
Shadow Economy/Culture Secretary Russ George said: “We have been pressing the Welsh Government to commit to this project for some time, so this announcement provides welcome clarification.
“There is broad support, not just from S4C itself, but from the local council and a great number of local businesses. I’m sure they will join us in welcoming this investment, which will be a huge boost to the region.”