Twenty eight projects set to benefit from EU property development funds
Twenty eight projects – with a total private sector investment of over £32m – are set to benefit from two EU property development funds and deliver a range of new and refurbished high quality commercial premises in the North, West Wales and the South Wales Valleys.
Seventeen projects from the £7m Property for Business Development Grant Fund (PBDG) and eleven from the £7m Property Infrastructure Fund (PIF) have been provisionally allocated funding. Firm grant offers will be made once second stage applications have been received, further assessed and formally approved.
The selected projects will together provide more than 1million sq ft. of new and refurbished office and industrial floor space, with the capacity to accommodate around 2000 jobs.
Economy Secretary Ken Skates said:
“The selected projects represent a geographical spread across North, West and South East Wales and will support business growth and job creation, providing tangible benefits for local economies.
“The grant support available through these EU funded projects will help stimulate the market, create new high quality industrial space and offices to accommodate jobs and, most importantly, meet the needs of local businesses.”
The successful projects were selected in conjunction with regional stakeholders across Wales to provide best value for money and to create the greatest economic impact. The primary focus has been on projects in Enterprise Zones, Local Growth Zones and City Regions.
Both funds are for new build and refurbishments/extensions/adaptions with the PIF scheme aimed specifically at advance build developments and the PBDG fund targeted at supporting businesses with bespoke expansion projects.
The Funds aim to bridge the financial viability gap that exists in parts of Wales between the cost of building, expanding or refurbishing properties and the completed market value of the property.
Latest News from
Free weekend bus travel pilot off to a fast start25/09/2017 12:05:00
The TrawsCymru network has seen a huge increase in passengers across the network since the Welsh Government launched its free weekend bus travel pilot in July, figures have shown.
Welsh Revenue Authority Chief Executive and board members appointed22/09/2017 16:15:00
Finance Secretary Mark Drakeford has today announced the appointment of the first Chief Executive and 5 non-executive board members of the Welsh Revenue Authority (WRA).
Tabor Centre in Brynmawr opens thanks to £499,969 Welsh Government funding22/09/2017 15:43:00
A Baptist chapel in Blaenau Gwent which has received almost £500,000 from the Welsh Government has been transformed into a multi-purpose facility that will hire out rooms and provide services such as a food bank, job club and a youth club.
'Fantastic facility' made possible thanks to Welsh Government funding22/09/2017 14:06:00
Cabinet Secretary for Communities and Children, Carl Sargeant has visited Caerphilly to see how the Welsh Government’s Vibrant and Viable Places fund has been used to regenerate parts of the town.