The Economic Impact of the Loughor Marine Lake Development Essay

The Economic Impact of the Loughor Marine Lake Development - Essay Example The tidal lake waterfront would create opportunities for leisure activities such as sailing and boating.   Generation of electricity for the use in the development area is also included as a part of the master plan.  Ã‚   The project is expected to act as a catalyst for the economic development of the region benefiting Llanelli and Swansea as well.     The employment opportunities arising out of the project will benefit the community in Swansea and the surrounding areas such as Port Talbot, Neath, Llanelli, parts of Lliw Valley and the District of Dinefwr. The mobility on account of tourism, leisure, and other related activities would create an excellent climate for the business and trade development in the region as a whole in the long term. The long-term jobs created will be in Manufacturing and Commercial sector.   The second major sector will be Services covering retail, wholesale, distribution, personal services, tourism, and leisure.   It is proposed to construct 250,000 Sq. feet area for commercial purposes in the development project. The consortium’s interest in obtaining grants from Europe under the European Regional Development Fund for which tourism is seen as a prime means of economic regeneration.   Weaknesses and shortcomings of the project are also analyzed in this paper.   The study also covers recommendations for a comprehensive strategy to develop the region as an economic hub and a tourism spot of national importance and recommended a program of implementation.   The study analyses and reports the project in terms of its scope, limitations or shortcomings, and arrive at general conclusions and give recommendations for a comprehensive strategy for the development of the project and implementation of the program.   The Master Plan of the Marine Lake Development consists of two independent and related projects. The first one is related to infrastructure development.