Signed: The £1.3bn deal promising thousands of jobs for Wales
THE Swansea Bay City Deal will today be signed off – with the promise it will create tens of thousands of jobs for south-west Wales.
It means a £1.3bn investment in a region covering Pembrokeshire to Neath Port Talbot during the next 15 years, triggering 11 jobs creation programmes across a range of sectors.
First Minister Carwyn Jones, who is joining Prime Minister Theresa May at a signing ceremony in Swansea today, described the city deal as “transformative” for southwest Wales.
Mr Jones said: “This is a package which will deliver jobs and economic growth for all of south-west Wales, with clear benefits for all the areas involved.”
Mrs May said the deal was a “great example of what can be achieved when the UK Government, the Welsh Government and local authorities work together”.
The city deal was described as a “game-changing” moment for the region by Swansea Council leader Rob Stewart – who said it will “turbocharge” the region’s economy.
He said: “Our city centre as a whole will also benefit from this project because of the additional footfall and spending the digital village and employment district on Kingsway will generate.”
The life sciences sector and the development of the digital economy are key components in the deal.
It is hoped investment in these areas will provide longterm growth and a foundation of economic stability.
More than 1,000 jobs are earmarked for creation in the £169m Swansea City and Waterfront digital district project alone.
Ali Thomas, Neath Port Talbot Council leader, said: “The City Deal provides an important long-term vehicle for increasing economic resilience in our region, for restructuring our economy and for opportunities for young people in particular.”
The economy of south-west Wales will be transformed by the Swansea Bay City Deal, First Minister Carwyn Jones has declared.
The Swansea Bay City Region deal, which brings together Swansea, Carmarthenshire, Neath Port Talbot and Pembrokeshire councils, is expected to create almost 10,000 new jobs over the next 15 years and trigger almost £1.3bn in investment.
There are 11 major projects planned across the region in energy, smart manufacturing, innovation and life science.
The First Minister will be joined by Prime Minister Theresa May, Cabinet Secretary for Finance and Local Government Mark Drakeford, the four leaders of the local authorities and Secretary of State for Wales Alun Cairns to sign the city deal document at a ceremony in Swansea’s Liberty Stadium today.
“The deal is a great example of what can be achieved when the UK Government, the Welsh Government and local authorities work together to secure a deal that benefits the city and the whole of Wales,” said Mrs May, in Wales as part of the ongoing engagement with the devolved nations ahead of Article 50 being triggered later this month.
“From my first day on the steps of Downing Street, I made clear my determination to strengthen and sustain the precious union. I have also been clear that as we leave the European Union I will work to deliver a deal that works for the whole of the UK.
“I want every part of the United Kingdom to be able to make the most of the opportunities ahead and for Welsh businesses to benefit from the freest possible trade as part of a global trading nation.
“Wales’ universities already have an excellent international reputation, attracting overseas students and pioneering in research projects here and abroad. I also want Wales to be at the forefront of science and innovation – as demonstrated by today’s landmark City Deal for Swansea.
“This Government’s Plan for Britain will seek to deliver a stronger, fairer United Kingdom and a better deal for ordinary working people in Wales and across the nation.”
Mr Jones said: “We have pushed long and hard for this City Deal to be signed and have given it our strongest possible backing, with £125m of Welsh Government investment.
“This is a package which will deliver jobs and economic growth for all of south-west Wales, with clear benefits for all the areas involved.
“Today’s announcement is a transformative deal that will drive the regional economy in a new direction, supported by high-quality jobs and a digital infrastructure.
“I want to thank our partners – particularly the leaders of all the local authorities and Sir Terry Matthews – for their leadership and vision in bringing this historic deal to fruition.
“This again shows the viability of city deals for different parts of Wales and we want to see this replicated in north Wales. We welcome the UK Government’s commitment in the recent budget to the North Wales Growth Deal and will be pressing ahead with discussions on proposals.”
Alun Cairns, Secretary of State for Wales, believes the deal will build on the strengths of the region and the opportunities available, and will help the city compete with some of the world’s best cities through exciting digital technology.
“This is a fantastic chance for Swansea to prosper and reap the benefits from close partnerships that are focused on securing genuine wins for a local area,” he said.
Rob Stewart, Swansea Council leader, declared the approval of the City Deal a “game-changing moment” for Swansea and the Swansea Bay City Region.
“With a total value of £1.3bn, it will be Wales’ largest city deal, and will turbocharge the region’s economic prosperity and create up to 35,000 jobs when spin-offs are taken into account,” he said.
“Our city centre as a whole will also benefit from this project because of the additional footfall and spending the digital village and employment district on Kingsway will generate.
“The ‘Team Swansea Bay’ approach between the public and private sectors we’ve developed over recent years was always aimed at delivering innovative projects for the benefit of local residents. It’s hugely satisfying that we’ve delivered on our promises by ensuring Swansea gets its fair share from the UK Government.
“Our focus will now be on aggressive delivery to ensure the people of Swansea benefit from this investment as soon as possible.”
Carmarthenshire Council leader Emlyn Dole said: “This is a truly exciting time for the region – the level of investment we are talking about is incomparable to anything we have seen before. The City Deal will allow us to deliver what we have worked so hard to achieve and local people and businesses will soon start to reap the benefits.”
Pembrokeshire County Council leader Jamie Adams said the deal will make a vital contribution to the Welsh economy, increasing productivity, export potential and skilled employment opportunities for today and for future generations.
And Ali Thomas, Neath Port Talbot Council leader, said: “The City Deal provides an important long-term vehicle for increasing economic resilience in our region, for restructuring our economy and for opportunities for young people in particular.”
Cabinet Secretary for Finance and Local Government Mark Drakeford said: “It has taken a lot of hard work to get us to this point but each of these 11 major projects have both the financial backing and potential to deliver for the people of south-west Wales, creating high-quality jobs and opportunities that we need to see right across the country.”