£1.3bn Swansea Bay deal to be signed

20 March 2017

Prime minister Theresa May is expected to sign off the £1.3bn Swansea Bay City Region deal later today which it’s hoped will help create thousands of jobs across south west Wales.

The deal for the Swansea Bay region is expected to transform the economy of south west Wales and is being backed by £125.4m of Welsh government funding and is the biggest single investment in the region, expected to create 10,000 new jobs over the next 15 years.

A total of 11 major projects are planned across the region in energy, smart manufacturing, innovation and life science.

Downing Street said May’s visits to the four nations, which begins in Wales, would ensure the government was “engaging and listening to people from right across the nation” before triggering Article 50 to leave the European Union.

Speaking ahead of the signing, Wales first minister Carwyn 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.”

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