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RESOLVED: That the Regional Investment Strategy (Draft) and Investment Prospectus (Draft) for the region, be endorsed subject to approval from the South West Wales Corporate Joint Committee.
RESOLVED: That the report be noted.
RESOLVED: That the report be noted.
RESOLVED: That the following recommendation be endorsed, prior to approval from the South West Wales Corporate Joint Committee: • That Swansea Council be delegated as lead Local Authority for the duration for the Local Growth Fund programme period (three years) on behalf of the South West Wales Region; • That £200k capacity funding be utilised to support the existing LA programme management function to reduce revenue pressure; • The outline of the proposed anchor projects and initial proposed budget allocations • The proposed regional and national funding/working arrangements; • The proposed anchor project selection process.
RESOLVED: That the report be noted.
The Chairperson welcomed everyone to the meeting.
The following declaration of interest was received: Cllr C.George (National Park Member) General declaration – As she is a Director of Pembrokeshire Lottery which provides interest free loans to businesses in Pembrokeshire.
The minutes of the meeting held on 5 January 2026, were approved as an accurate record.
Y penderfyniad fel y'i cofnodwyd
RESOLVED: That the Regional Investment Strategy (Draft) and Investment Prospectus (Draft) for the region, be endorsed subject to approval from the South West Wales Corporate Joint Committee.
The Committee were provided with the South West Wales Investment Strategy and Prospectus. Members were informed that this stage represented the final phase of developing the Regional Investment Strategy and Prospectus; work had commenced in October 2025, when Amion Consulting was commissioned to support the project. It was stated that a draft prospectus had been produced for the Welsh Investment Summit in December 2025, and both the Prospectus and the Regional Investment Strategy had since been refined; subject to endorsement by the Sub Committee, and approval by the South West Wales Corporate Joint Committee (SWWCJC), both documents were scheduled for launch at UK Real Estate Investment and Infrastructure Forum (UK REiiF) in mid‑May 2026. It was mentioned that through the whole process, including workshops, webinars, and consultations with stakeholders and the Private Sector Advisory Board, Officers had engaged with over 200 individuals across the region. The Sub Committee received a presentation from Amion Consulting, with whom Officers had worked closely during the development phase. Amion Consulting referred to the main deliverables, which included: A Regional Investment Strategy, providing a strategic roadmap outlining investment objectives, priority sectors and parameters for achieving the region’s investment vision. A Regional Investment Prospectus, designed as an external-facing marketing document summarising the strategy, setting out the regional investment offer, and identifying next steps and available support for investors. An Evidence Base to underpin both documents and support future strategic work and funding bids. An internal note had also been prepared for Officers, outlining recommended next steps relating to strategy delivery, communications and funding alignment. It was noted that only minor visual adjustments to the documents were anticipated prior to launch, primarily to ensure consistency with the wider UK REiiF materials and investor engagement requirements. A discussion took place in regard to the expansive engagement activity. It was highlighted that two in‑person workshops had been held and attended by 45 participants, along with two webinars attended by over 70 stakeholders; more than 30 one‑to‑one interviews had also been conducted with organisations and individuals to inform the development of the strategy. Members were informed that this work had resulted in a clear vision and a set of strategic missions aligned with the Regional Economic Delivery Plan (REDP), supported by a strong rationale for action at this time. Reference was made to the call for projects, which had generated 45 submissions, representing investment opportunities totalling over £6 billion; these projects reflected strong alignment with UK and Welsh Government economic strategies, and covered a wide range of areas including regeneration, energy, digital infrastructure, transport connectivity and skills. Given the breadth of proposals, Officers noted the importance of aligning the pipeline with other SWWCJC workstreams. It was explained that all projects would need to go through a filtering process; however, this was noted to be flexible to reflect changing contexts. The Committee was informed that work had begun on funding‑route matching to identify whether propositions were best suited to public, private or blended finance; and a prioritisation matrix had been established to assess impact, readiness and financial viability, with scope for variation according to local circumstances. A proposed South West Wales Investment Fund was also outlined; the fund was valued at £1.5 billion over a ten‑year period and had been benchmarked against previous levels of regional funding as well as comparable investments in other areas. It was mentioned that the project pipeline received through the call for projects had also been considered, ensuring that the proposed scale of the fund reflected the nature and size of the projects. The proposed next steps for the fund included identifying funding gaps and unlocking delivery at scale, with an outcome to take forward stored schemes; as well as progressing strategic priorities, attracting investment capital and considering long term regional transformation. In terms of next steps for the overall strategy, Amion Consulting highlighted opportunities to strengthen marketing activity and emphasised the need to transition from strategy development to implementation; this would involve applying the flexible framework, maintaining a robust governance process with the SWWCJC, and refreshing and utilising the projects pipeline. It was stated that further work was planned around investor engagement, pipeline development and progressing projects to delivery. RESOLVED: That the Regional Investment Strategy (Draft) and Investment Prospectus (Draft) for the region, be endorsed subject to approval from the South West Wales Corporate Joint Committee.
Y penderfyniad fel y'i cofnodwyd
RESOLVED: That the report be noted.
Officers gave an overview of the preparation underway ahead of the UK Real Estate Investment and Infrastructure Forum (UK REiiF) 2026. It was confirmed that UKREiiF was scheduled to take place in Leeds between 19 and 21 May 2026. Officers advised that this would be an opportune moment to launch the Regional Investment Strategy and Prospectus, as it will prepare the region for any possible opportunities that could present from engagement with potential investors during the event. The Committee was informed that for 2026, Welsh Government brought together the four regions of Wales and arranged a dedicated Welsh Pavilion on sit; the pavilion will include exhibition space and dedicated areas for each region over the three days. It was noted that Welsh Government had been coordinating arrangements on a weekly basis, with representation from all authorities. The circulated report outlined the timetable for the event, noting significant activity on days one and two; day one would include the formal launch of the Investment Strategy and Prospectus. It was stated that each region would also have an allocated session for its own presentations. Officers confirmed that there would be opportunities throughout the three days to meet with investors, with approximately 900 attendees listed on the UKREiiF website who could be approached for meetings. It was highlighted that the cost of exhibiting was £15,000 per Corporate Joint Committee. It was proposed that the South West Wales Corporate Joint Committee (SWWCJC) would fund attendance for three representatives from each authority; any additional attendees would need to be funded by the respective authority. Officers emphasised the importance of assessing the value of participation, given the time commitment involved; work would be undertaken to evaluate outputs and outcomes from the event to inform future years. Members asked whether National Parks would be required to self‑fund attendance or whether any surplus allocation could support their costs. Officers confirmed that this question would be referred back to the organisers, with a response to be provided outside the meeting. Members also queried how the South West Wales region would ensure strong representation within the shared Welsh Pavilion. Officers advised that the draft programme included a range of sessions with identified speakers from the region, confirming that South West Wales would be well represented. RESOLVED: That the report be noted.
Y penderfyniad fel y'i cofnodwyd
RESOLVED: That the report be noted.
Members were presented with an overview of the Regional Economic Delivery Plan (REDP) project pipeline. Officers reminded Members that the Regional Economic Delivery Plan (REDP) had been produced in 2022; a mid‑term review was then undertaken in 2025, confirming that the existing strategy remained robust despite recent economic and policy changes. It was noted that the missions and ambitions previously identified continued to be the correct areas of focus; however, the review highlighted the need for additional narrative to underpin this work, specifically in relation to employment and skills, connectivity, and sites and premises. As part of the review process, it was noted that the strategy had been refreshed and the associated project pipelines updated. The circulated report highlighted the second phase of the review, which was a refreshed and streamlined project pipeline. Members were informed that it sets out an updated portfolio comprising nine regionally significant projects and thirteen supporting regional programmes; collectively, these provided the region with a clear and investable pipeline for the future. Officers emphasised that the pipeline was a live document and would support the region in responding to future opportunities and shaping investment decisions, including applications for UK and Welsh Government funding; annual updates on the status of the pipeline would be provided, and individual projects and programmes would progress through the South West Wales Corporate Joint Committee’s (SWWCJC) approval processes when appropriate. Members asked whether figures were available regarding the scale of the projects and the potential funding sources, noting the importance of understanding the various funding streams required to deliver the proposed activity. Officers confirmed that indicative figures were available but remained uncertain at this stage; investment would need to be drawn from multiple sources, something the region had historically managed effectively by securing funding to meet project needs rather than designing projects to fit specific funds. Officers also highlighted the growing potential for private‑sector leverage due to the region’s increasing momentum and track record. It was confirmed that future updates would include further information on funding to ensure Members had full oversight. RESOLVED: That the report be noted.
Y penderfyniad fel y'i cofnodwyd
RESOLVED: That the following recommendation be endorsed, prior to approval from the South West Wales Corporate Joint Committee: • That Swansea Council be delegated as lead Local Authority for the duration for the Local Growth Fund programme period (three years) on behalf of the South West Wales Region; • That £200k capacity funding be utilised to support the existing LA programme management function to reduce revenue pressure; • The outline of the proposed anchor projects and initial proposed budget allocations • The proposed regional and national funding/working arrangements; • The proposed anchor project selection process.
An overview of the Local Growth Fund Wales was provided to the Committee. Officers reported that one of the key funding sources for the next three financial years was expected to be the new Local Growth Fund; unlike the previous Shared Prosperity Fund (SPF), which was allocated directly from the UK Government to Local Authorities, the new funding would be routed through the Welsh Government, restoring the appropriate devolved process. However, it was confirmed that the intention remained to operate on a regional basis, consistent with the SPF approach in Wales. It was explained that the programme contained three investment priorities: more competitive businesses, local economic infrastructure, and skills and employability for growth; with the latter intended to be closely aligned to the first two. Members were advised that, whereas SPF had been a more general programme, the new fund was significantly more targeted towards economic growth; activities would therefore need to be aligned with this focus. It was added that the programme was due to commence in April 2026 and run for three years. Members were informed that Welsh Government had expressed that they would work through the Corporate Joint Committee governance structure; however, they agreed initially to continue using the existing SPF delivery arrangements, given their proven success over the past four years. Officers advocated that Swansea Council should retain the lead role for administering the new programme throughout its three‑year duration; noting the region’s strong strategic alignment, the recent refresh of the Regional Economic Delivery Plan, the existing project pipeline, and the successful track record of delivery including business support and growth. Officers also reported that £200,000 had been indicated to create a strategy; however, as a strategy was already in place, it was proposed that this funding be used instead to support regional programme management across the four local authorities. It was further proposed to continue the ‘anchor project’ approach used under SPF, refining it to three anchor projects aligned to the main programme themes: business support, economic infrastructure, and skills and employability. It was noted that the new fund was capital‑heavy, with limited revenue funding, and that the available revenue was intended to support the delivery of capital projects rather than operate independently. The Committee was informed that the year‑one allocation formula used by Welsh Government broadly mirrored the SPF methodology, with indicative figures set out in the circulated report. Officers emphasised that these allocations were flexible and could be adjusted. It was also highlighted that the programme did not include local‑level allocations, with Officers expressing that it was fortuniate that Welsh Government were permitting local authorities to work on a regional basis and build on activity. The circulated report outlined proposed activities under the three anchor projects; in particular, the economic infrastructure priority offered significant opportunity to develop areas of the existing project pipeline; the region would also be able to plan ahead for years two and three in partnership with Welsh Government. Officers noted that there was scope to work constructively with relevant Welsh Government departments and align with other national funding streams, particularly those linked to placemaking, transport, and energy. Officers referred to needing a regional plan was required to outline how the fund would be utilised; this plan was currently based broadly on relevant sections of the previous SPF investment plan. Officers reiterated that while the indicative figures were included in the circulated report, the detailed arrangements for local delivery still needed refinement. Welsh Government had provided flexibility for the region to shape the programme, offering opportunities for stronger integration of activity. Members placed on record their thanks to Officers for their work on the SPF programme across the region, noting that it had made a significant positive impact. RESOLVED: That the following recommendation be endorsed, prior to approval from the South West Wales Corporate Joint Committee: • That Swansea Council be delegated as lead Local Authority for the duration for the Local Growth Fund programme period (three years) on behalf of the South West Wales Region; • That £200k capacity funding be utilised to support the existing LA programme management function to reduce revenue pressure; • The outline of the proposed anchor projects and initial proposed budget allocations • The proposed regional and national funding/working arrangements; • The proposed anchor project selection process.
Y penderfyniad fel y'i cofnodwyd
RESOLVED: That the report be noted.
The Committee received a progress update on the regional energy workstream. It was noted that in the autumn of the 2025, the first joint workshop was held with energy and economic development Officers; the session explored areas of common interest across both workstreams and identified several potential opportunities for prioritisation. Officers confirmed their intention to continue holding these workshops on a regular basis. Members were informed that the workshop coincided with the launch of the Local Area Energy Plans (LAEPs), attended by the First Minister; this event enabled Officers to identify progress and raise the profile of the work. Officers noted that the launch generated subsequent engagement and enquiries, which had been beneficial. It was reported that funding for the regional energy team had been confirmed by Welsh Government until March 2027, providing continuity for the programme. In relation to LAEP delivery, it was acknowledged that capacity challenges remained; City Science, the authors of three of the four LAEPs, had been commissioned to assess both local and regional capacity requirements, which would inform future resourcing and structures. An overview was provided on the ‘O Llaith i Gynnes’ (‘From Wet to Warm’) project. It was noted that the project had commenced in partnership with Cardiff University and the Tywi Centre, funded through the UK Research and Innovation (UKRI) Switch to Net Zero Buildings Programme. Officers explained that around one‑third of the region’s buildings were of traditional construction, presenting particular challenges for retrofit; the project was using Bremenda Isaf, an unoccupied Carmarthenshire County farm property, as a case study to monitor its condition, identify retrofit challenges, and determine cost‑effective approaches to enable low‑carbon heating. It was explained that following the initial study phase, feasibility work would be undertaken to establish optimal interventions based on economic and carbon considerations. Reference was made to the programme of dissemination work that was planned, specifically identifying a permanent case study. Officers emphasised the value of the project, which will benefit local tradespeople across the region as well as supply chains; it will also support home owners in making informed decisions. A discussion took place in regard to the Smart Local Energy Systems (SLES) programme. It was stated that SLES schemes aimed to optimise new and existing renewable generation and storage by matching them with local demand, thereby reducing the need for additional grid infrastructure; a year long assessment had identified 20 potential sites across the region. Officers highlighted the economic benefits, including improved returns for generators and lower costs for local businesses; significant national investment was anticipated, with GB Energy expected to make approximately £1 billion available for SLES and other renewable schemes across the country. Following on from the above, it was noted that feasibility funding was being sought through the Corporate Joint Committee (CJC), with additional Local Growth Fund support also available to progress selected schemes to investable propositions. Officers made reference to an example in Pembroke Dock and emphasised the opportunities across many towns and larger villages in the region. The presentation highlighted the role of local authorities in LAEP delivery. Officers explained that SLES schemes required extensive stakeholder engagement, particularly between businesses and community energy organisations; the region benefitted from several significant community energy groups, creating opportunities for partnership and access to wider financing. Officers emphasised that community‑based schemes ensured that financial benefits remained within local areas. Officers provided an overview of the additional ongoing schemes with both environmental and economic value. They included heat networks, energy and retrofit advice, Electrical Vehicle (EV) charging, group purchasing, scope 3 emissions, solar canopies, and anaerobic digestion. Members raised concerns regarding solar farms, and queried the effective use of community benefit funds and the need to maximise local opportunities. Officers provided further information on anaerobic digestion, including ongoing work to develop on‑farm dewatering as a community energy scheme. Officers observed that public acceptability tended to be higher for solar on buildings and car parks than on agricultural land. They also noted that future large‑scale solar schemes would likely require an element of community or local ownership rather than relying solely on community benefit funds. Officers reiterated that significant challenges remained in delivering community‑owned projects; the SLES programme would help to clarify feasibility and barriers once delivery phases were reached. It was noted that Welsh Government Energy Service continued to provide support to community groups for smaller schemes; however, Officers highlighted that a growing pipeline of deliverable schemes was likely to create future capacity challenges and this needed to be considered moving forward. In relation to anaerobic digestion, Members expressed the benefits of engaging with Natural Resources Wales (NRW), given its experience as both a permitting and enforcement authority. Officers provided a further update on solar canopy work, particularly the project underway in Carmarthen, and highlighted the substantial potential for renewable generation within town centres; they referred to the need to demonstrate tangible benefits of renewables for local communities. In conclusion, Officers noted the challenges associated with community groups leading projects, given the high level of stakeholder engagement required. They reported that GB Energy’s approach was flexible, and that funding could be provided directly to local authorities to develop energy assets. Officers suggested that this could present opportunities for Councils to invest directly in solar and other renewable generation. RESOLVED: That the report be noted.
There were no urgent items received.
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