Funding boost for Valley businesses

Funding boost for Valley businesses

The Welsh Government has announced two new funds launched with £14m of EU funds to support business growth and job creation in the North, West Wales and the South Wales Valleys.

The £7m Property for Business Development Grant Fund (PBDG) and the £7m Property Infrastructure Fund (PIF) are each expected to attract £13m of private sector investment and geared to stimulate the market to meet the needs of businesses.

Both funds are for new build and refurbishments, extensions or adaptions with the Property Infrastructure Fund aimed specifically at advance build developments and the Property for Business Development Grant Fund targeted at supporting businesses with bespoke expansion projects.

The successful projects, selected in conjunction with the regional stakeholders across Wales, will be those that achieve best value for money and create the greatest economic impact. The primary focus will be on projects in Enterprise Zones, Local Growth Zones and City Regions. 

Stage 1 Applications, providing brief information on the project requiring support, will need to be submitted by the 30 April in order to be considered for a provisional allocation of funding. 

For more information and an application form for businesses interested in the Property for Business Development Grant or developers interested in the Property Infrastructure Fund to support advance build development should email gde.pdg@wales.gsi.gov.uk.