- July 20, 2012
- Posted by: David Rees AM
- Category: Latest News
Aberavon AM, David Rees, has welcomed the announcement that £1,502,989 will be coming to businesses in Neath Port Talbot thanks to the Wales Economic Growth Fund. The grants will benefit 7 businesses in Neath Port Talbot, creating 102 new jobs and safeguarding 45.
David Rees AM said:
“I’m delighted that this money will be coming to Neath Port Talbot. This is a very challenging time for businesses, many of which are struggling in the current climate. Not only will this investment benefit those 7 businesses, but it will also have a knock-on effect for the whole local economy.”
“Furthermore, this money will go on to create 102 new jobs and safeguard 45 jobs that already exist in the area which will, no doubt, have a massive positive effect on those individuals and their families.”
The Economic Growth Fund is a non-repayable grant aimed at providing short-term assistance to businesses in Wales in order to stimulate economic growth by providing capital support to projects delivering job creation, retention and additional investment.
The Minister for Business, Technology, Enterprise and Science has approved 118 projects through the scheme, with an investment of over £30 million. These projects are expected to create some 1800 new and safeguard around 1600 jobs across Wales.