Investment by the Swansea Bay City Deal has led to three new facilities in Swansea.
As part of the Swansea City and Waterfront Digital District project, City Deal investment is part-funding Swansea Arena, the Innovation Matrix at the University of Wales Trinity Saint David, and the new office development taking shape at the former Oceana nightclub site on The Kingsway.
Developed by Swansea Council and run by Ambassador Theatre Group (ATG), Swansea Arena has now been open for more than two years.
Over 241,000 people enjoyed ticketed events, conferences, exhibitions, banquets, graduations and creative learning events at the venue in its first year of operation.
Also developed by the council, the new office development at 71/72 The Kingsway is now nearing completion. The scheme will include 114,000 square feet of commercial floorspace, a roof terrace, balconies overlooking Swansea Bay and the city centre, and a new pedestrian link between The Kingsway and Oxford Street. Over 75% of the office space there is now under offer.
Once complete, the development will provide space for 600 jobs and be worth £32.6m a year to Swansea’s economy.
Led by the University of Wales Saint David and located at its SA1 Waterfront campus, the 2,200 square metre Innovation Matrix (IM) offers a unique opportunity for businesses to connect through co-location in high-quality space and to partner with the university.
The Swansea Bay City Deal is an investment of up to £1.3bn in a number of major projects across the Swansea Bay City Region, which also includes Carmarthenshire, Neath Port Talbot and Pembrokeshire.
It’s projected to be worth £1.8bn to the regional economy, while also creating over 9,000 jobs.
Cllr Rob Stewart, Swansea Council Leader, said: “All three projects in Swansea part-funded by the City Deal are either now complete or nearing completion soon.
“They are creating top-class facilities for entertainment, business and innovation, while also generating jobs for local people and boosting the local economy.
“This funding has also acted as a catalyst to attract further investment in Swansea, with examples including the Princess Quarter office scheme and the groundbreaking living building development that’s taking shape at Mowbray Yard.
“These schemes are all part of a Swansea regeneration programme worth over £1bn that’s transforming our city into one of the UK’s best places to live, work, study, enjoy and visit.”
Funded by the UK Government, the Welsh Government, the public sector and the private sector, the Swansea Bay City Deal is being led by the four regional local authorities in partnership with Swansea University, the University of Wales Trinity Saint David, Swansea Bay University Health Board and Hywel Dda University Health Board.
Other regional City Deal projects benefiting Swansea include Homes as Power Stations and Skills and Talent.
Over £175m is also being invested in the region’s digital infrastructure.
