A new £10m fund to support new commercial and industrial developments in Port Talbot, with the aim of attracting and creating hundreds of new jobs, has been launched.
The Property Development Fund from Neath Port Talbot Council will aim to support three 20,000 sq ft speculative developments - with a focus on innovation and research and development. Over five years the target is for the three speculative schemes to accommodate up to 400 jobs - of which 120 will be newly created.
The fund has come from the £1.3bn City Deal for the Swansea Bay City Region - whose nine approved projects cover the local authorities of Swansea, Neath Port Talbot, Pembrokeshire and Carmarthenshire - with a £4.5m contribution. A condition of the grant funding is that developers leverage addition private sector funding of £5.5m.
