Major plans to develop a state-of-the-art business park at a former industrial site in Swansea have been given a multi-million pound funding boost by the Welsh Assembly Government.
The £11.7m investment will help regenerate the former Felindre steelworks site into a strategic business park capable of employing hundreds of people.
The funding will provide vital infrastructure works at the site to ensure it’s developed into a prime location for businesses that will offer a high-quality centre for expansion projects and young companies with high growth potential.
Some of the works will include the construction of a new internal road and provision for electricity, gas, water, drainage, lighting and high-speed broadband access.
The Welsh Assembly Government funding includes £9.5million from the Convergence European Regional Development Fund and the Targeted Match Fund. The development of the site is being brought forward as a Joint Venture between Swansea Council and the Assembly Government.
Cllr Gareth Sullivan, Swansea Council’s Cabinet Member for Economic and Strategic Development and Planning, said: “The successful bid for this funding is great news and it will be a significant boost for the Felindre site.
“Our aim is that Swansea will have employment land of the highest quality to attract investment and provide jobs in future and the infrastructure works will go some way to helping us meet that objective at Felindre.”
Deputy First Minister Ieuan Wyn Jones said: “This funding will provide a major boost to develop the Felindre site into a key business park for the region. It will create an accessible and high quality environment for business with the capacity to attract investment to the region and leading to more job opportunities.
“Our Economic Renewal: A New Direction policy outlines our goal to provide the right infrastructure to develop a modern and competitive economy in which business and people can live, work and prosper.”
Jane Hutt, Minister for Business and Budget, said: “This investment demonstrates how we can maximise the impact of every pound of EU funding and add value to projects through the Targeted Match Fund to deliver lasting benefits.
“Together, the funding will help build a better business environment, increase employment opportunities and contribute to the regeneration of the area.”
Other investment at the site will see the landscaping of gateways and public areas and provision for buses.
