UK's Largest Knowledge Economy Project in Swansea
Swansea University has been given the go-ahead from Welsh Assembly Government and Neath Port Talbot CBC for The Bay Campus, which “will be a catalyst for what is likely to be both the largest knowledge economy project in the UK and the fourth largest in Europe,” says Swansea Bay Futures.
Projected to contribute more than £3billion to the economy in the next decade, the development will generate more than 11,000 jobs, increase the number of students in science and technology, magnify research and industry collaboration, and develop high-tech clusters.
The Assembly Government has donated £15m to the project, which university chiefs said secured the future of the Campus.
University vice-chancellor, Richard B Davies, commented: "We have a number of multi-national companies as partners but a project of this massive scale could not have proceeded without the assistance of the Assembly Government."
Constructed on Fabian Way, the campus will accommodate 4,000 students, eventually increasing up to 5,100. Jobs for 900 university staff will be created, as well as a further 150 to 200 jobs in industrial and R&D related activities.
A testing and research facility will be operated in collaboration with Rolls Royce, as well as new research facilities for the departments of engineering, computer science, mathematics, and business and economics.
Deputy First Minister, Ieuan Wyn Jones, said: "This project fits into our vision for the Welsh economy with its focus on innovation and research and development."
Swansea Bay Futures and Swansea University have entered into a service level agreement (SLA) to deliver services that will support the development of the new Campus, and to optimise its potential for the region.
Integration and Innovation in Swansea
The Science and Innovation Campus will be built on over 50 acres of land given to Swansea University by BP, who wanted to make a lasting contribution to the region.
The project adopts a radical approach to R&D, education and industry, and will construct an integrated science park with the capacity to accommodate academic research, industrial R&D, and post graduate and undergraduate students alike – a feat untried anywhere else in the UK to date.
The campus will fortify existing relationships between Swansea University and global corporations, and enable further complementary collaborations, which have already begun to take place with companies such as Rolls Royce and Tata Steel.
The Engineering and Business Colleges at Swansea University, rated as having the second best Civil Engineering department in the UK in the 2008 independent RAE, will also be moved to the new Campus. Its high standard of research and well-established relationships within the business community will impact significantly on the success of the Bay Science and Innovation Campus.
Mr. Jones commented: "For Wales to succeed in the modern economy, academia and businesses must work together. Wales must move towards a more knowledge-based economy where the right conditions exist for innovation to flourish so we can unlock our full potential."
"Innovation is key to our future in Wales", he added.
A Bay of Life
Under the service level agreement (SLA), Swansea Bay Futures will continue to promote the Swansea Bay area as a place to work, live and visit, on a non-profit basis, delivering the Bay of Life initiative.
The Bay Campus looks set to offer much more than a typical University campus. Swansea Bay Futures expect the development to catalyse the regeneration of the area, attracting significant high-tech companies, and potentially developing one of the UK’s largest knowledge economies.
In collaboration with the University and its partners, Swansea Bay Futures will be attracting private sector firms to the project, whilst simultaneously managing global communications with its stakeholders.
The SLA on the Campus development will provide numerous opportunities for Swansea Bay Futures and its partners and associated companies to actively impact on the regional economy.
Mr. Jones added: "The campus development promises to be one of the largest knowledge economy initiatives in Europe, supporting substantial economic renewal in South West Wales."
For more information about doing business in Swansea, please see their pages.
