Businesses in Port Talbot and the surrounding area can now apply to a new £11.78 million fund to create high-quality jobs and attract long-term investment.
The newly-opened Economic Growth and Investment Fund is designed to support companies that offer skilled, well-paid employment opportunities and help them grow, News Cover reports, citing the UK government's official website.
The fund is made up of £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.
The funding 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. It was set up to protect jobs and the local economy during Tata Steel’s ongoing transition to greener steelmaking in the town.
Since August 2024, the Transition Board has now allocated £122 million - £102 million from UK Government and £20 million from Tata Steel – into different funds which provide skills training for ex-workers, support for businesses and the supply chain and regeneration projects as Tata Steel carries out its transition to electric arc steelmaking.
