£90 million boost for Swansea University campus
Swansea University has received a multi-million pound funding boost towards its ambitious campus development programme.
The university has secured £60 million from the European Investment Bank, plus a further £30m from Welsh Government and the Wales European Funding Office (WEFO) toward the new Science and Innovation Campus on Fabian Way and the regeneration of its Singleton Park campus.
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An artist’s impression of the project
The university says the new campus would play a crucial role in building Wales's knowledge economy and establishing the region as a vibrant location for high technology.
It would also help the university realise its ambition of becoming a world leader in research and innovation, and act as a major economic regeneration driver in the South West Wales region.
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A university spokesman said around 4,000 direct jobs will be created during the construction phase, with a further 6,000 indirect jobs supported in the wider economy as a result.
First Minister Carwyn Jones, who attended the formal launch of the programme at the university today, said the project is "hugely exciting” for Swansea and for Wales.
"I am delighted that the European Investment Bank has announced this £60 million investment to take the scheme to the next stage," he said.
“The university’s plans are highly ambitions and they predict it has the potential to create thousands of jobs. That’s why I am also pleased to announce that the Welsh Government will be providing over £30 million of support which includes EU funding."
Welsh Labour MEP, Derek Vaughan welcomed today's announcement, which he said will be "key in enabling the university to maintain its place at the cutting edge of research and development.”
“It is an ambitious project that will eventually lead to Swansea University playing host to one of the largest, modern economic projects in Europe and drive forward the creation of more highly skilled jobs in the Welsh economy," he said.
"With companies such as Rolls-Royce, BAE, Hewlett-Packard and Tata already signed up, Wales will be taking a huge step with this development in bringing the research and industrial sectors closer together to innovate and enhance economic growth."
Swansea University’s Vice Chancellor, Professor Richard B. Davies said the campus expansion will be particularly advantageous to students.
"The closer collaborative working between the university and industry will help ensure the most relevant and up-to-date degree programmes and there will be unique opportunities for students to acquire the skills and experience valued by employers.”
A spokesman said the new Fabian Way campus will co-locate the university’s college of engineering and school of business and economics with a range of multinational, national and local businesses.
Comments
by jwelshman
Friday, September 21 2012, 6:37AM
“To make this really work as an industrial park the WAG must insist on the UK government removing tolls for the Severn Bridge and improve the M4. Without decent transport links it will remain a research centre of excellence with all profits going elsewhere in the UK.”
by Neathboy234
Friday, September 21 2012, 12:09AM
“Great news, if we to succeed in Wales this has to be the way to go.”
by Philosoraptor
Thursday, September 20 2012, 11:17PM
“When I see stuff like this it makes me smile, while I do agree with some of the critics (it would be better placed closer to the city centre) I am not going to hide away from the fact that this is an enormous project. Total cost is a whopping £200M and a lot of that is private investment from real global giants like Airbus and Toyota!”
by SAswan
Thursday, September 20 2012, 9:23PM
“the old visteon factory across the road from this new campus should become an enterprise zone for high tech research and development companies”
by Petert53
Thursday, September 20 2012, 8:55PM
“Great news - a development worth waiting for!
Lets just hope that included in the plans are either dedicated public transport to the campus or major changes to the junctions near Gower Chemicals or even a dedicated road to and from the campus so thye level of traffic on the main route into Swansea isn't clogged up ny student traffic”
by gorseboy
Thursday, September 20 2012, 8:34PM
“Heard the Vice-Chancellor Prof.Davies give a talk on this at his annual lecture to Swansea U3A.
No-one could be more enthusiastic than him to get this going.”
by TaipeiSteve
Thursday, September 20 2012, 7:52PM
“I echo Gowerview's sentiments that this is the kind of quality investment that Swansea so desperately needs to help kick start investment in other areas.
This article doesn't mention a time frame for the development, but the BBC* states that construction is due to begin next year. Congratulations to all agencies who are helping bring this project to fruition.
* http://tinyurl.com/8ntsugv”
by Gowerview
Thursday, September 20 2012, 6:23PM
“Great news and real quality investment for the Swansea East approach.
Next ,a landmark regeneration of the city centre should surely now start .This would give a real economic lifeline to the struggling city centre.
Potential sites of regeneration remain bare and abandoned on SA1 , what of the landmark leisure developments earmarked for this area?”