The instrumental impact of EU funding
“As a research-led University with a strong sense of civic mission, regional economic and social development are a major priority”
As Wales braces for what could be a perfect economic storm in the months ahead, Ceri D. Jones, director of Swansea University’s Research, Engagement and Innovation Services looks at the impact of EU funding on regional development, and some of the seeds of hope in the pipeline.
Recently Ford announced its engine plant in Bridgend is set to close in autumn 2020, with the loss of 1,700 jobs. Just weeks ago, British Steel was put into compulsory liquidation – re-igniting major concerns about an industry that employs thousands in Wales. With the UK set to leave the European Union on the 31 October, Wales is set to lose out on hundreds of millions of pounds each year in EU funding that has been driving economic and social regeneration in recent years.
Swansea University is located within the ‘West Wales and the Valleys’ region, which has been identified as one of the most deprived regions within Northern Europe, and as such, is a net beneficiary of EU funding.