The proposed Wellness and Life Science project has got unanimous approval from Carmarthenshire County Council’s Planning Committee.
The £200million complex planned for Delta Lakes on the Llanelli coast is expected to create close to 2,000 jobs and give the local economy a £467million boost.
It is one of 11 projects that make up the £1.3billion Swansea Bay City Deal.
As well as an Institute of Life Science, a Community Health Hub facility at the Village is set to include a Wellness Education Centre and a Clinical Delivery Centre.
A state-of-the-art leisure centre, assisted living accommodation and a wellness hotel are also planned for the Village, along with landscaped outdoor spaces for recreation.
Members of the Planning Committee visited the Delta Lakes site this morning and heard the detailed planning application this afternoon before coming to their unanimous decision.
Committee Chair, Cllr Alun Lenny, said: “This is one of the largest developments ever considered by this council’s Planning Committee. We gave all elements our most careful consideration, having first visited the site this morning and viewed it from all angles.
“Llanelli has been in gradual decline since so many of its traditional industries closed, leaving a legacy of poverty and poor health, which the Wellness development seeks to remedy. It is a truly groundbreaking concept, bringing together health, housing, leisure and medical research on the same site.
“Such a massive development on a post-industrial wasteland would herald an exciting new era in the history of Llanelli. I sincerely hope that the Welsh Government agrees with our decision about this forward looking development which would do so much to regenerate Llanelli, Carmarthenshire and west Wales in general.”
Leader of the Council, Cllr Emlyn Dole, said: “This is a major step forward for this transformational project that will benefit people in Llanelli, Carmarthenshire and South West Wales as a whole.
“This will bring major employment and opportunities for the area, along with world-class leisure and health facilities.
“The people of Llanelli want and deserve this fantastic development, and now is the time to get behind it and make the vision a reality.”