Welsh Finance Minister Jane Hutt has been stressing the importance to Wales of a City Deal in Swansea in her discussions with the UK Government.
The Minister, who was on a visit to Swansea on Tuesday, says emerging proposals for a City Deal, if successful, could help boost economic growth across the Swansea Bay City Region as a whole.
A City Deal is an agreement between the UK and Welsh governments and a city region that helps support economic growth, create jobs or invest in local projects.
The Swansea Bay City Region is looking to apply for a City Deal that would unlock investment worth billions of pounds and generate hundreds of new jobs by focussing on three key areas: energy, well-being and connectivity.
Ms Hutt said: "During my discussions with the UK Government, I have stressed the importance of a City Deal in Swansea to Wales. A successful City Deal for the Swansea Bay City Region will require close working between us, the city and local region and the UK Government. We are fully committed to taking forward that work and ensuring our support for the development forms an integral part of the proposition. Now that discussions have begun, I look forward to working closely to take this exciting proposition forward."
On her visit to Swansea, the Minister was also shown fly-through videos of the winning regeneration ideas for the St David's and Civic Centre development sites.
Ms Hutt said: "I was delighted to have the opportunity to see first-hand the impressive plans for the regeneration of Swansea city centre. As well as transforming the city centre, it will bring a strong economic and infrastructure boost which is so crucial for the future success of the wider Swansea Bay region."
Cllr Rob Stewart, Swansea Council Leader, said: "We're hugely grateful to the Welsh Government, and to Ministers Hutt and Hart in particular, for the support they're giving to both the City Region's City Deal proposition and our plans to regenerate Swansea city centre. We look forward to further close partnership work alongside them in future as we go about raising standards of living across south west Wales, opening up new jobs and developing a thriving city centre to help turbocharge the Swansea Bay City Region economy."
Winning ideas for the St David's site include a new indoor arena and a new retail street stretching from Whitewalls to Oystermouth Road. Town houses, apartments, hotels and better links than ever before with the city waterfront are among the winning ideas for the Civic Centre site's regeneration.