WIREDGOV

Finance and Government Business Minister Jane Hutt has announced the European Commission’s approval of the new £1.1 billion European Regional Development Fund programmes to help boost the Welsh economy and create jobs in Wales.

Launching the Fund at a European Structural Funds programme 2014–2020 event for Welsh partners in Conwy, North Wales, the Finance Minister said:

“I am delighted to announce that the European Commission has approved the new European Regional Development Fund programmes for the West Wales and the Valleys and East Wales regions. We are the first region in the UK and among the front runners in Europe to have our ERDF programmes approved.  This announcement marks a significant milestone for further EU funds to be invested to help deliver on our shared goals across Government for sustainable economic growth and jobs.”

The £1.1bn from the European Regional Development Fund (ERDF) for Wales will help drive research and innovation, SME competitiveness and business finance, renewable energy and energy efficiency, infrastructure.

The European Social Fund (ESF) for Wales, worth £804 million of EU funds investment, have been ‘agreed in principle’, with formal approval from the Commission expected within the next few weeks. The ESF will focus on supporting skills and helping people into work, bringing a total EU investment through all the programmes of around £2bn to Wales.

The ERDF programmes, worth some £960m for West Wales and the Valleys and £162m for East Wales include:

• £310m  for Research and Innovation;
• £198m  to boost competitiveness, including through business finance;
• £439m for Connectivity and Urban Development, which includes £252m for transport, including scope to support transformational public transport investments such as the Metro in the Cardiff Capital City Region, and other improvements including the A55 and A40;
• £154m for renewable energy and energy efficiency.

The Finance and Government Business Minister also opened the EU-funded Bee and Station business centre which was developed with £500,000 from the European Regional Development Fund through the 2007–2013 programmes. The EU funds enabled the derelict hotel to be transformed into a hub for enterprising ventures. Currently, based at the centre is community interest company, G2G.

Set up by Bill and Moira Lockitt in March 2010, the company employs some 12 staff as well as a number of volunteers. It is helping people into work or to start their own business; it is also supporting businesses to drive innovation within their existing activities to increase their growth prospects. They use many multi-media resources as part of their innovative training techniques to encourage people to study science, technology, engineering and maths.

Leader of Denbighshire, Councillor Hugh Evans OBE, said:

“I'm delighted to see the Bee and Station business centre officially opened today. It's a key milestone for the project and developments like this are important components of the wider programme of regeneration and investment going on in the town. It's essential for the regeneration of Rhyl that local people can benefit from the capital investments which are taking place. The Bee and Station is a clear example of how this vision is being put into practice by providing opportunities for people to learn new skills and supporting them on their journey back into the world of employment."

Commenting on the adoption of the programmes, European Commissioner for Regional Policy Corina Cretu said:

"I congratulate our partners in East Wales and West wales and the Valleys in reaching this milestone in strategic investment planning. Wales is the first to adopt programmes in the UK and indeed, it is a model for the rest of Europe's regions in terms of 'partnership in action'. Thanks to the tireless work and dedication - from ministerial level to the grassroots, we are able to launch these vital programmes for investments that will set Wales on the path to smart and green growth - connecting people, skills and jobs".

So far, EU projects supported through the 2007–2013 programmes have helped over 187,400 people to gain qualifications and over 59,900 into work, and created over 30,100 (gross) jobs and over 10,400 enterprises across Wales.

So far, EU projects supported through the 2007–2013 programmes have helped over 187,400 people to gain qualifications and over 59,900 into work, and created over 30,100 (gross) jobs and over 10,400 enterprises across Wales.

The Minister said:

“the EU is a unique partnership of nations working together for the benefit of their citizens, and as a pro-European Government we value the role of Wales in Europe and to the UK’s membership of the EU.“