A new £37m arts complex being developed at Bangor University, North Wales, will create "hundreds of jobs", according to First Minister Carwyn Jones.

Jones was speaking at the launch of the Pontio arts and innovation centre, which is to open in spring 2013 and will be used by students and the local community. Facilities will comprise a theatre with seating capacity of 450-550; a studio theatre; cinema space; and an outdoor amphitheatre, as well as bars and park areas.

An innovation hub is also planned, which aims to encourage greater engagement with small and medium businesses to help drive the creation of new products and services. Jones said: "This scheme will capitalise on local skills and expertise to create and safeguard hundreds of jobs and business opportunities which will promote economic growth in the area."

Bangor University deputy vice chancellor Professor Fergus Lowe added: "Pontio will provide a focal point for the local community as a Centre where people can meet, learn and be entertained."