With Prime Minister Theresa May officially signing off the Swansea Bay City Region deal this week, many businesses and individuals across the area may be thinking more intently about what the future could hold for them. The £1.3 billion deal is a vital part of the government’s plans to put Wales at the forefront of science and innovation. The Swansea Bay City Region deal is also expected to create more than 9,000 jobs as well as a variety of opportunities for businesses serving multiple industries to grow and prosper, including those within the construction sector.
Local construction company Andrew Scott Ltd is one business that can already see the benefits that the Swansea Bay City deal will bring to the region. The Port Talbot based firm was even recently interviewed by ITV and the BBC to comment on just how the investment will affect Swansea and the surrounding areas, and more specifically the job prospects and opportunities available throughout the local construction industry.
“This is a massive investment for the region and for Wales, and provides companies, like Andrew Scott, with the confidence to invest in our businesses and create jobs to deliver the projects that this deal will generate,” said Mark Bowen, Managing Director at Andrew Scott Ltd.
The investment will fund several projects across Swansea, Carmarthenshire, Neath Port Talbot and Pembrokeshire due to the participation of the councils and both the private and public sectors in these areas. As part of the deal, renewable and conventional energy firms will be connected digitally thanks to the development of new systems and storage processes, whilst a ‘cloud’ enterprise zone will also be introduced to attract data companies to the area. The healthcare sector will also receive a digital overhaul; using the internet health diagnostics, the management of data and the creation of personal treatment plans and tele-care will dramatically improve the service provided by a number of healthcare facilities.
A steel science centre will also be constructed in partnership with Tata Steel to transform manufacturing processes and make zero carbon steel engineering and sustainability possible sooner rather than later. This in particular is a hugely important project for the area.
Funding for the Swansea Bay City Region deal comes from private and public resources – £241 million from UK and Welsh governments, £360 million from the public sector and universities, and another £673 million in private investment – and will be spent over a period of 15 years.
“There are 11 major projects in total, each of which has the potential to create a digital infrastructure that will support thousands of high quality jobs and drive the regional economy forward, even in during uncertain times. This is one of the biggest investments the region has ever seen, and the developments are certain to put us at the forefront of smart manufacturing and innovation as the Prime Minister intends. However, for the region to benefit fully from this City Deal and encourage local companies to think globally, but deliver locally, whilst boosting growth and increasing GVA, we must have ‘smart’ procurement that benefits local companies, the region and the Welsh economy,” concluded Mark.