Marvin OnumonuBusinesses in Port Talbot and the surrounding area can now apply to a new £11.78m fund to create high-quality jobs and attract long-term investment.
The Economic Growth and Investment Fund includes £6.78m from the UK Government and £5m from Tata Steel UK.
It is designed to support firms offering skilled, well-paid jobs and help them grow.
The fund will work alongside Welsh Government and Neath Port Talbot council efforts to strengthen the local economy.
Secretary of State for Wales Jo Stevens, said: “This new fund is a powerful example of what can be achieved when government and business work together to deliver for communities.
“Backed by over £11.7 million, it will help local businesses grow, create high-quality jobs and attract more new investment to Port Talbot.
“As a government we have acted decisively to ensure that steelmaking would continue in Port Talbot and also to provide extensive financial support for steelworkers, supply chain businesses and the wider community.”
Stevens added: “So far £122 million has been allocated by the Port Talbot Tata Steel transition board resulting in thousands of grants distributed locally for retraining, business investment and regeneration projects.
“We said we would back the steelworkers of Port Talbot, their families and businesses dependent on Tata Steel and we have delivered on that promise.”
Rajesh Nair, CEO of Tata Steel UK, said: “Tata Steel UK’s contribution to the new Economic Growth and Investment Fund reflects our ongoing commitment to supporting the long‑term development of the Port Talbot area as we transition to greener steelmaking.
“This new fund will help encourage businesses to come into the area, grow, innovate, and create high‑quality local jobs.
“We are proud to work alongside the transition board and our partners across government and local authorities to strengthen and diversify the local economy, support skills development and attract the long‑term investment that will secure a sustainable future for Port Talbot and its communities.”
Councillor Steve Hunt, Leader of Neath Port Talbot Council, said: “The Economic Growth and Investment Fund will provide crucial backing for local industry as we diversify and transition our economy towards new sectors and opportunities.
“The funds already launched by the Tata Steel / Port Talbot transition board have made a huge impact and our economic development team will again provide support and advice to interested parties.”
