Labour has promised to bring more quality jobs to the Welsh economy with the publication of the party's manifesto for business.
It will go head-to-head with Plaid which plans to draw attention to its policy of cutting business rates for small firms when its leader Ieaun Wyn Jones hits the campaign trail tomorrow.
Labour said it would streamline business support and introduce a single flexible investment fund for business worth up to £200 million a year.
The merger of the Assembly Government and the Welsh Development Agency, part of Rhodri Morgan's bonfire of the quangos, was supposed to cut the plethora of public sector organisations offering support to business.
Labour is putting its record on the economy at the forefront of its election campaign, championing the creation of 140,000 jobs.
However, opposition parties have panned Labour, accusing it of failing to improve Wales's wealth in comparison with other UK nations and regions.
The number of apprenticeships would go up to 25,000 and skills academies would be created to train workers in key sectors under a third-term Labour government.
It would target the next round of EU aid to Wales on innovation, skills and training.
Home-grown businesses would get help competing for public contracts and there would be more money for crucial transport routes.
Mr Morgan said: "A strong and successful economy is at the heart of everything Welsh Labour is doing to build a better Wales, because more and better jobs mean more people in work and greater prosperity and confidence for all.
"The only way to ensure Wales continues to create more, better paid jobs is to vote Labour on May 3."
Enterprise Minister Andrew Davies said: "Labour is the only party in Wales committed to tackling the real challenges of globalisation.
"We do not want Wales to compete on low wages with developing economies."
Mr Morgan, who was joined by Assembly candidate Andrew Davies for yesterday's launch of the manifesto at Swansea's Sail Bridge, said the city had undergone a massive change during the four years since he opened the landmark structure across the Tawe.
He said that the sight of numerous cranes towering over the Swansea skyline was evidence that a Labour-run Assembly was helping to transform the fortunes of the city and reduce the gap between East and West Wales.
Mr Morgan added: "You can see a lot of cranes in SA1 and the city centre."SA1, Wind Street and other parts of the city are showing what can be done.
"Swansea is very much a city on the move."
Mr Morgan said Swansea's success was not only based on high profile jobs such as those in the "knowledge economy" - generated by places like the university and spin-offs operating at the Technium in SA1.
He pointed to the massive new 390 metre long Amazon distribution centre being built in Jersey Marine.
Mr Morgan said: "When you come to Swansea and you see that huge number of earth movers it tells you something.
"Amazon had to be in business by the Christmas run-up.
We were the only place which could do that and it is thanks to Andrew and his staff."
Mr Davies said the deal was turned around in 100 days and showed that Labour was able to draw in big business like Boots and Motorola which were working with Swansea University which was generating new jobs in places like the techniums in SA1.
He said: "The Technium was an idea born in Swansea. A lot of the businesses in the Technium are spin-offs from the university."
Mr Morgan added Swansea was enjoying a purple patch.
He said: "There are more people in work in Wales than ever before." First Minister Rhodri Morgan and Andrew Davies, Minister for Enterprise, Innovation and Networks, launch Labour?s new manifesto on the Sail Bridge, Swansea.
