Agenda and draft minutes

The Chairperson welcomed everyone to the meeting.

There were no declarations of interests received.

The minutes of the meeting held on 11 February 2025, were approved as an accurate record.

Members were provided with a progress update in regard to the mid-term review of the Regional Economic Delivery Plan.

It was explained that SQW were undertaking a mid-term review of the South West Wales Regional Economic Delivery Plan, a key strategy for economic wellbeing for the region, that was produced in 2021.

Officers highlighted that the Plan detailed three ambitions for the region in terms of economic prosperity, which were to become more resilient and sustainable, more enterprising and ambitious, and more balanced and inclusive; although these ambitions were quite broad, they were underpinned then by three missions which were much more specific. It was noted that the first mission focused on promoting the area in terms of new renewable energy and the development of a Net Zero economy; the second mission was regarding making a stronger, more resilient and more embedded business base and growing the business stock within the region. Officers added that the third mission was related to growing and sustaining the experience offer in the region.

The Committee was informed that in addition to reviewing the Plan, SQW were also looking into how the economy has changed since the document was produced; this included the changes to policy context, both from UK and Welsh Government. It was explained that SWQ were also reviewing the range of projects that were set up under each of the three missions in order to understand progress made in delivering the projects; as well as new opportunities that have come to fruition, such as the Celtic Freeport and Shared Prosperity Fund. Officers mentioned that SQW were trying to assimilate all of this information in order to provide a refreshed strategic position for the region; this will assist in discussions with UK and Welsh Governments and with inward investors, particularly when voicing what can be achieved in the next few years.

It was noted that SQW provided a presentation to the Private Sector Advisory Board last week; the Board Members will be providing written comments to factor into the review of the Plan. In terms of next steps, Officers explained that SQW will be invited to a future meeting of this Sub Committee to share the work they have completed and recommendations for moving forward.

Members asked if there were set timescales for completing this piece of work. It was noted that the aim was to conclude this work in September 2025.

A discussion took place in regard to potential opportunities for shared learning between the Private Sector Advisory Board and this Sub Committee in regard to this piece of work. Officers welcomed the suggestion and would look into opportunities for collaborative discussions. 

Members asked if there had been any initial funding aligned to this strategy. It was stated that the first strategy was funded by Welsh Government, however since then Officers hadn’t utilised funding for this work; the view was to produce an evidence based and coherent strategy in order to use as a foundation in future discussions with funders.

The Committee received a presentation on the development of the Regional Inward Investment website.

It was noted that alongside the regional strategy, Officers were developing a website which reflects the opportunities across the region; this was a collaborative effort between colleagues in each of the four Local Authorities to put forward a number of opportunities which can be presented to investors.

Officers shared the current visuals of the website; the features included background of the region and key indicators, information regarding talent and skills, the connectivity in terms of the rail and road networks and an opportunities map.

Members were informed that there were a number of sectors that Officers were targeting, all of which align with the work being undertaken on the Regional Economic Delivery Plan; Officers had worked in partnership with all four Local Authorities and SQW to come up with a list of priorities. Examples were provided which included life science and well-being, energy, smart manufacturing, digital and creative industries and leisure and hospitality.

The presentation of the website included an overview of the range of investment opportunities which had been included to display the different projects that were either ongoing, available or in development; Officers had uploaded a total of 29 different opportunities across the region. It was noted that those who visit the website will be able to find out further detail on the project including an overview, what was trying to be achieved and how the project will improve the area. Officers also demonstrated how to use the opportunities map, which was a geographical way to view the various investment sites across the region.

It was explained that the website was set up in a way that if a developer or interested party wanted to obtain further information in regard to one of the projects, the request would be sent to the relevant Local Authority to be dealt with by those who had the knowledge and understanding of that project; the Local Authority would then be required to take forward the interest generated from the website.

The Committee was informed that the site was currently still in development, and Officers were working with partners to update the site further; the work had been driven by the regional leads group across the region, which consisted of Heads of Services in economic development. Officers highlighted that the website was a platform developed for displaying the good work being undertaken, or about to be undertaken, within the region.

A discussion took place in regard to the various websites that were active within the region, and the need to ensure that whichever route was utilised, that the user would be taken to the correct webpage and get the information they need.

Members queried why certain projects weren’t listed on the website. It was noted that the site was a working progress; if there were sectors missing or areas that needed to be developed, Officers could add them onto the website as and when required.

In terms of timescales,  ...  view the full minutes text for item 5.

Any urgent items at the discretion of the Chairperson pursuant to Section 100BA(6)(b) of the Local Government Act 1972 (as amended).

There were no urgent items received.