Prime Consul Theresa May has signed off the Swansea Bay City Region deal, insisting she demands Wales “at the forefront of science and innovation”.
The plan is expected to create diverse than 9,000 jobs and trigger almost £1.3bn of investment in south west Wales.
Mrs May said the conduct oneself treat would help show a country which “works for everyone”.
It be broaches as First Minister Carwyn Jones told the Guardian Mrs May had a “tin ear” on issues of devolution.
Downing Row said Mrs May’s visits to the four UK nations, which began in Wales, desire ensure the government was “engaging and listening to people from right across the political entity” as it prepared to leave the European Union.
Mrs May and Mr Jones joined the leaders of four boards – Carmarthenshire, Neath Port Talbot, Pembrokeshire and Swansea – to sign the mete out at Swansea’s Liberty Stadium on Monday.
Speaking at the ceremony, the prime curate said last June’s Brexit referendum vote was not just not far from leaving the EU, but about voters wanting “a change in the way the country works”.
“It is segment of our plan for Britain,” she said.
“It’s important for this part of Wales. It see fit be about ensuring that prosperity, growth, that opportunity is to hand to everyone.”
Mr Jones added: “I’m a strong believer that we are at our best when dominations co-operate. Today is a good example of that.”
As well as meeting the win initially minister, Mrs May met representatives from a range of sectors and businesses during the pop in.
What is the Swansea Bay City Region Deal?
- £1.3bn of private and public simoleons to be spent over 15 years
- £241m from UK and Welsh governments, £360m from the notable sector and universities, and another £673m in private investment
- Four cabinets – Carmarthenshire, Neath Port Talbot, Pembrokeshire and Swansea – taking role in
- Eleven projects including: a “cloud” enterprise zone to attract figures companies; using the internet to improve health diagnostics; a steel system centre
Speaking ahead of the signing, Mr Jones said it was a “transformative have to do with that will drive the regional economy in a new direction, supported by high-quality functions and a digital infrastructure”.
Rob Stewart, leader of Swansea council and the city province, said: “This is among the biggest investments Wales has ever showed, so it’s a historic day for the Swansea Bay City Region.”
There was criticism of the deal, come what may.
Prof Dylan Jones-Evans from Bristol Business School voted that while the deal was “vitally important”, the deal’s strategy was “deeply different” to that originally proposed by tycoon Sir Terry Matthews.
Mr Jones-Evans signified the deal had gone away from “investing in infrastructure and people” for “building more buildings”.
“It is a strategy that has been discredited by pecuniary development organisations around the world,” he said.
“The question is why they are doing it here in Swansea Bay.”
Dissection by Sarah Dickins, BBC Wales economics correspondent
“The internet coast” may reverberate like a slightly over-ambitious title for the change it is hoped the Swansea Bay See Deal could bring, when in some parts of the region living soul struggle with a weak mobile signal.
But if the ambition for the bay area to be a test-bed for 5G technology is realised, then we can create a whole raft of other industries developing.
5G would work in every way Wi-Fi routers not masts, which is the case with 3G technology. This intent make coverage much more robust.
The massively increased belt along of 5G would also make virtual reality more accessible and ease the way for the software for driverless cars to operate.
For Wales, that could significantly refrain from existing industries such as life sciences and the automotive sector.
As the car determination invests in driverless cars, the existence of 5G would make south west Wales a assorted attractive place for businesses in that sector to develop.
Similarly, 5G could green light high definition video which would enable more full health care monitoring.