A new £11.78 million fund will soon be available to businesses in Port Talbot and the surrounding area to help them grow, create high-quality jobs, and attract long-term investment.
The Economic Growth and Investment Fund is designed to support companies that offer skilled, well-paid employment opportunities that match the talents of the local workforce.
The fund includes £6.78 million from the UK Government and £5 million from Tata Steel UK and will complement the work of the Welsh Government and Neath Port Talbot Council to strengthen the local economy.
To ensure the fund delivers the greatest possible impact, a period of engagement with businesses will begin ahead of the fund opening for bids in the autumn. This will shape the fund’s design - ensuring it meets the needs of businesses and unlocks the conditions for long-term economic growth, job creation, and private sector investment. Once engagement has been completed, the fund is then subject to business case approval by UK Government.
This funding announcement is the latest from the Tata Steel / Port Talbot Transition Board, chaired by Welsh Secretary Jo Stevens and including representatives from the UK and Welsh Governments, local authorities, unions and business.
For further information please select the following link: £11.7m fund to boost business investment and jobs at Port Talbot - GOV.UK
Business Wales is working in partnership with UK Government and Neath Port Talbot Council to provide business support for individuals, existing businesses and supply chain companies impacted by the Tata Steel transition. This includes a package of business advice and guidance to help you prepare your business case for financial support through the UK Government funded Tata Steel Transition Funds: Business Wales support for Tata Steel Transition | Business Wales