The Higher Education Funding Council for Wales has announced core research funding for Swansea university will increase by just over that figure during 2010.
It is the largest rise in funding of any university in Wales, with only ten universities in England receiving a larger increase.
The increase demonstrates the rapid rise in Swansea University's reputation for internationally excellent and world-leading research. The announcement is a direct result of the university's recent success in the Research Assessment Exercise, which compared the quality of research in universities across the UK.
Swansea University's vice-chancellor Richard B Davies said: "When you see success being measured in cash terms, it begins to sink in just how well Swansea is performing.
"The additional funding will help us to build further on our strengths, while previous experience shows it will also generate an extra £9 million a year for research projects."
"In addition to creating more than 200 jobs at the university over the next few years, this will have a number of knock-on effects for Swansea and the region — our new school of medicine and its links with the NHS, for example, and our support for economic regeneration, which creates employment in modern, high-tech companies.
"Our Singleton campus is already buzzing with activity. Thankfully, plans are already progressing for an ambitious campus expansion programme, which includes the possible establishment of a second campus on Fabian Way, and which enables the university to maintain the momentum of its spectacular growth."
Professor Davies also acknowledged the contribution of staff for its reputation for research development.
"The motivation and ability of more than 500 academic staff, and their determination to be successful, has played a vital role in our growth, as have the hundreds of administrative and support staff who help to create and maintain an environment in which scholarship can flourish."
25th August, 2010. South Wales Evening Post.
