- 20/03/2017
- Posted by: Mike Hedges MS
- Category: Uncategorized
MIKE HEDGES AM WELCOMES NEWS THAT THE HISTORIC £1.3 BILLION SWANSEA BAY CITY DEAL HAS BEEN SIGNED
A landmark £1.3 billion city deal for the Swansea Bay region will transform the economy of South West Wales, Welsh Labour’s First Minister Carwyn Jones said as the deal was signed today.
Mike Hedges AM said….. This is the best news in decades for Swansea! This is a real once in a generation opportunity to transform Swansea and the regional economy. I offer congratulations to Cllr Rob Stewart and Sir Terry Matthews along with all of their colleagues who have played a part in developing this bid. I look forward to seeing the transformation of Swansea and South Wales in the years ahead.
Backed by £125.4 million of funding from the Welsh Labour Government, the deal is the biggest single investment in the region and is expected to create 10,000 new jobs over the next 15 years.
The Swansea Bay City Region deal brings together Swansea, Carmarthenshire, Neath Port Talbot and Pembrokeshire councils and includes £396 million of other public sector money, £637 million of private sector investment as well as £115.6 million of UK Government funding.
Eleven major projects are planned across the region in energy, smart manufacturing, innovation and life science.
The First Minister was joined by the Prime Minister, Welsh Labour’s Cabinet Secretary for Finance and Local Government, Mark Drakeford, the four leaders of the local authorities and the Secretary of State for Wales to sign the city deal document at a ceremony in Swansea’s Liberty Stadium.
Further details of what the City Deal will mean for South West Wales can be found here.
