Plans for a Creative Industries Hub in West Wales will be supported by £3m of Welsh Government funding, economy secretary Ken Skates has announced.
Following consideration of a business case from the University of Wales Trinity St David, the Welsh Government has agreed to allocate £3m of capital funding to support Yr Egin - a project that will see an innovative hub for the Creative Industries being established in Carmarthen.
The investment will support the construction of a new building to provide accommodation for companies, incubator space to develop new businesses in the creative and digital sectors as well as and event space, an open auditorium, and production and edit suites that can be used by both companies and the university.
Speaking about the decision, Ken Skates said: “Having considered the overall potential economic, cultural and educational benefits of this project I am pleased to announce that the Welsh Government will be investing £3m in 2017/18 to support Yr Egin.
“The investment will help to deliver the infrastructure needed to support the University’s vision of a cluster of creative businesses in Carmarthen.
“This in turn will help to inject new life into the local economy, bring additional and high quality jobs to Carmarthen and enhance Wales’ growing reputation as an enabler of talent, imagination and productivity.
“It also supports our wider commitment to promoting Welsh as a living and vibrant language and will help cement links between academia and creative businesses.
“Our support for Yr Egin will help Carmarthen to capitalise and build on S4C’s decision to locate its headquarters there and will help provide space and networking opportunities for other businesses, the University, students and entrepreneurs.”
Our BQ Bulletin emails will land in your inbox at 7.30am, Monday to Friday, with a mix of the latest local business news, national news, and features to inspire you. Sign up here!
Click here to read our privacy statement