The UK’s leading regeneration specialist, St. Modwen, is developing the  £450m campus with its construction partner, VINCI Construction UK, and Swansea University’s framework contractor, Leadbitter, a Bouygues UK company.

The development, which will welcome its first students on site in September 2015, has benefitted from £50m of Welsh Government funding, including £35m from the European Regional Development Fund.

In addition, the Bay Campus is providing significant local employment opportunities. As of June 2014 almost 2665 people have worked at the site, with almost 75% of the workforce from Wales, 1242 training and apprenticeship weeks, and 83 Welsh companies winning contracts at the Bay Campus.

During her visit, the Minister switched on the power in new Institute of Structural Materials (ISM), which will house a mix of academic research and commercial activities. This will  provide an ‘open innovation’ environment for industry to collaborate and engage with academic expertise to help develop manufacturing products and processes and introduce new ones, contributing to the economic regeneration of the region. The ISM is one of four buildings making up the Engineering Quarter at the Bay Campus.  Companies contributing to the sponsorship of research at the ISM include Rolls-Royce, Airbus, TWI and Timet as well as funds from Government-supported initiatives.

Edwina Hart said: “Manufacturing is one of our key sectors for growth and academic collaboration is vital to drive the research and development Welsh companies need to compete. Manufacturers are not just competing on cost but providing value by delivering products and services through excellent innovation. The new Institute of Structural Materials will be a welcome boost to the local economy and the wider industry in Wales.”

Professor Iwan Davies, Pro-Vice-Chancellor of Swansea University, said: “Phase  one of our new Bay Campus has been made possible by support from the Welsh and UK

Governments, including the allocation of European funding, together with contributions from  industry and funding on favourable terms from the European Investment Bank”

 “This unique partnership working means that the University can continue to expand, provide new opportunities for our students, and meet the needs of industry which will share the facilities on the Bay Campus and also benefit from the University's cutting edge world-class research. The full completion of the Bay Campus will be the catalyst to the creation of a vibrant knowledge economy driving sustainable economic growth in the Swansea Bay City Region and beyond.   I’m delighted to welcome the Economy Minister here today to show her first-hand the early benefits that the development will be bringing to the region.”