WIREDGOV

The opening of the expression of interest phase of the Wales Economic Growth Fund on December 15 will follow the first in a series of events arranged by the Murco Task Force, which has been established to support the Murco employees and contractors and businesses in the supply chain. An event to provide business advice and support for the wider contractor network will take place on December 09 and a jobs fair will take place on December 10th.  

A £3 million Wales Economic Growth Fund will support current suppliers to Murco  to diversify and projects which will create or safeguard jobs in Pembrokeshire. Providing grants of between £50,000 and £500,000, it aims to support some 30 businesses and safeguard or create up to 300 jobs in the area.

A £500,000 Small Capital Investment Fund is also open for applications from Small and Medium Enterprises (SMEs) in Pembrokeshire. This fund will provide grants between £5,000 and £25,000 (and £50,000 in exceptional circumstances) in this financial year, towards projects that create or sustain jobs, or grow businesses. Priority will be given to SMEs in the Energy and Environment sector or supply chain which have been heavily impacted by the Murco position and those in deprived wards.

The Minister said:

“The collapse of the sale of the Murco Oil Refinery was a bitter blow for the whole of Pembrokeshire and our priority now is safeguarding as many jobs as possible in the area. These two funds will go a considerable way towards achieving this by supporting businesses and individuals in the area to diversify or grow their businesses and to make the most of the opportunities provided by Superfast Broadband."

The Wales Economic Growth Fund will be open for expressions of interest from December 15 until January 19 2015. The application window will then be open from January 26 until February 23 and the first awards are expected to be made in the next financial year.

The Small Capital Investment Fund operated through Business Wales is already open for applications and will remain open until the end of January 2015. Grants will be awarded to projects that can use the grant funding in this financial year and will result in the creation and sustaining of jobs, or growth of businesses Both funds are discretionary, terms and conditions apply

Further details of both funds are available at www.business.wales.gov.uk/murco-support or by contacting the Business Wales Helpline on 03000 603 000.