A multi-million pound grant offer for the exciting but controversial Bluestone project, a proposed £45m. world class tourism and leisure development in the heart of Pembrokeshire, was announced this week.
The ambitious new development - a year-round, high-quality, holiday and tourism destination in the Minwear/Canaston area, near Narberth - is expected to create some 600 jobs.
The £16.5m. support package from 'Team Wales' - one of the largest put together in Wales in recent years - is made up of £10m. of Assembly Government Regional Selective Assistance (RSA), a property development grant of £3m. from the Welsh Development Agency, a £2m. loan stock arranged through Finance Wales and a £1.5m. grant from the Wales Tourist Board.
The plans for the new generation holiday village will be put forward to the local planning authorities in the near future.
"This is an example of the Assembly Government delivering for the economy of West Wales by supporting an ambitious and high quality local venture which will create hundreds of jobs in the area," said Economic Development Minister Andrew Davies in announcing the offer on Wednesday.
"The £16.5m. package on offer shows how, by working together, we can invest significant funds to deliver jobs to the local economy.
"This investment decision demonstrates our determination to build the local economy and help local entrepreneurs develop quality jobs and business opportunities in the area.
"The Bluestone project will be of the highest quality and will help showcase Pembrokeshire as the world class tourist destination we know it to be. It will be a real shot in the arm for the whole economy of West Wales.
"The project has been designed to complement the wealth of existing tourism attractions in Pembrokeshire and to maximise the benefits to local businesses in the area, particularly those in the food sector.
"The Assembly Government's offer of financial support is without prejudice to the consideration of the planning issues associated with the development which, in the first instance, are for the local planning authorities to consider."
Philip Evans, chairman of Wales Tourist Board, said: "This announcement is an important step towards establishing yet another world-class tourism product in Wales.
"The Wales Tourist Board is delighted to confirm its offer of a £1.5m. grant to Bluestone Leisure for the Waterworld Project - an all-weather, all-season sub-tropical complex, open to all visitors to Pembrokeshire, not just guests of the holiday village.
"Waterworld is a vital component of this ambitious development.
"Tourism is the lead employer in many parts of Wales and the Bluestone project will contribute hundreds of year-round jobs in South West Wales.
"It is also significant that this announcement is being made during the week of the World Travel Market, one of the largest travel trade exhibitions in the world where Wales is facing fierce competition, on the international stage, for world wide business.
"The Wales Tourist Board was encouraged to give its support to this project based on the fact that it will be of huge benefit to the wider tourism community which is comprised mainly of small partnership companies."
WDA area development director, Gordon Andrews, said that the Agency supported the project because it was confident it had the capacity to create significant long-term benefits for the whole of Pembrokeshire, as well as contributing to the wider regional economy.