The Swansea University Science and Innovation campus, and its role in driving economic regeneration across the area, is being showcased in front of Members of the European Parliament (MEPs) at an event in Brussels involving senior figures from the University and other local partners.
Picture: how the Science and Innovation campus will look
Hosted by Wales MEP Derek Vaughan, the event gives representatives from across Europe a chance to hear from the Vice-President of the European Investment Bank, which has provided £60 million of investment to support the University.
The Bank has described the new campus as an exemplar of how a research-led University can work with industry to regenerate a region, with the overall economic impact of the project estimated to be up to £3 billion.
The construction phase alone shows how the Science and Innovation campus will drive regeneration. The first phase of building work will see:
• £250 million being spent,
• £430 million of economic activity, 90% of which will be in Wales,
• 4000 direct construction jobs, and over 1000 training and apprenticeship opportunities.
When the campus is occupied by the University from 2015, an additional 5000 jobs will be created as a result of longer-term engagement with industry and business.
A further £50 million of European funding has been secured for the Science and Innovation campus, via the European Regional Development Fund and the Welsh Government.
Other local partners involved in the Science and Innovation campus will also be represented at the event, including Neath Port Talbot Council, the Ospreys and the Welsh Government.
Swansea University Vice Chancellor Professor Richard B Davies said:
"European funding has been essential in supporting the Science and Innovation campus, which is a transformational project for Wales and for the University. It promises to become a global exemplar for how a research intensive university can work effectively with industry, helping to drive economic regeneration and creating exciting employment opportunities for its graduates."
"The event at the European Parliament in Brussels is a very important opportunity for Swansea University and its partners, including Neath Port Talbot Council, to fly the flag for this project and the region."
Derek Vaughan MEP, host of the event, said:
"I was involved in this project when I was Leader of Neath Port Talbot County Borough Council and I've followed developments closely during my role as an MEP. The impressive second campus is a real success story of how Wales is making the most of EU funding to develop its research, engineering and manufacturing base."
Jonathan Taylor, European Investment Bank Vice President, said:
"The European Investment Bank is committed to funding leading research and educational excellence across Europe and is pleased to support Swansea University’s landmark investment. This scheme will not only benefit future generations of students, but develop specialist skills, drive innovation and enhance economic growth in Wales."
More about the Swansea University campus development programme.
- Wednesday 26 June 2013 14.05 BST
- Wednesday 26 June 2013 14.00 BST
- Public Relations Office