Historic £1.3bn Swansea Bay City Deal 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 yesterday.

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.


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