The economic impact of Canolfan S4C Yr Egin will be significant, contributing more than £11m to the local economy each year.
Canolfan S4C Yr Egin will attract a high value sector, with opportunities for substantial specialist jobs and new opportunities in the Swansea Bay City Region.
The Centre will also be destination of choice where the University will create new enterprise hubs and high skill accelerator schemes to grow new businesses linked to the University’s portfolio, and where it will develop the skills of existing businesses and attract new investment into the region.
It is anticipated that around 175 jobs will be supported within the Centre – including the 55 posts that S4C will relocate from Cardiff. The posts to be relocated will include some in the communication, legal, finance and business, administration and commissioning fields.
On the whole, it is anticipated that 98 new posts could be created as a result of the Canolfan S4C Yr Egin development – in areas such as broadcasting, communication, marketing, animation, computer games, design, photography, translation and publishing – with around a further 500 subsidiary posts being created and supported across the region in connection with the development.
In addition, it is anticipated that around 85 posts will be created as part of the process of constructing the Centre during the period 2016-18.
By bringing together the broadcast and digital sectors, the Centre will encourage collaboration and innovation, stimulating growth for the creative industries in Wales. By doing this, the aim will be to create new creative posts with an income that will, on average, be considerably higher than the typical income for the region.
Within the Centre there will be space for new businesses and business support for new initiatives.
It is also intended that Canolfan S4C Yr Egin will act as a training centre for the creative industries, having a significant effect on the way the future workforce is developed and the current workforce is up-skilled.
The establishment of Canolfan S4C Yr Egin will be seen as a catalyst for attracting further creative companies to Carmarthenshire and the wider area, developing south west Wales into an important region for this key sector.
With a striking and varied landscape that lends itself to a variety of creative purposes; an attractive way of life and a ready-made bilingual workforce; the whole area is in a strong position to gain substantially from this significant development.
At a glance:
- 98 new jobs will be created, including many in 6 graduate start-up incubator units that will be established
- Cluster of 175 jobs within the creative community
- 75 full-time jobs relocating including 55 S4C jobs
- 507 full-time supply chain jobs
- 85 construction industry jobs created