First Minister Carwyn Jones will visit the site of Swansea University's new Science and Innovation Campus later, marking the start of work on the construction stage of the multi-million pound development announced last year.
Project leaders say they're aiming to create a centre which will focus on research and development facilities, initially concentrating on expanding research into high-tech areas of industry.
The first students are due on site by September 2015.
The first phase of development is said to be worth £250m, with an estimated 4,000 direct and 6,000 indirect jobs created during the construction phase.
The money - from European Investment Bank and the Welsh Government - will help fund development of a new Science and Innovation Campus.
An announcement is expected today about a new campus at Swansea University that could be a 'world-leading' site for research and teaching.