A new project will support more than 100 jobs and eventually generate more than £87 million for the South Wales economy
The first of the growth and regeneration projects in Port Talbot will receive £8.2 million from the Tata Steel / Port Talbot Transition Board.
Plans will support more than 100 jobs and eventually generate more than £87 million for the South Wales economy.
Tata Steel / Port Talbot Transition Board has now allocated £51 million into the local community.
More than 100 jobs are expected to be created and supported with the UK Government announcement of £8.2 million funding for the first regeneration project in Port Talbot with other projects set to follow.
Chairing the latest meeting of the Tata Steel Port Talbot Transition Board today (6 February) Welsh Secretary Jo Stevens will announce £8.2 million for the South Wales Industrial Transition from Carbon Hub (SWITCH) supporting more than 100 jobs.
The South Wales Industrial Transition from Carbon Hub project will redevelop a four-acre site at Harbourside, Port Talbot which will include the construction of additional shared space, undertake flood mitigation and the provision of specialist equipment. This investment will help establish an Innovation District in Port Talbot.
This will allow the development of a new facility targeted at supporting the steel and metal industry and supply chain to reduce carbon emissions in production. The facility is expected to create and support more than 100 jobs and eventually benefit the South Wales economy by £87 million.
The latest funding comes from the UK Government’s £80m Tata Steel / Port Talbot Transition Board fund which, since last July, has announced £51 million to support individual steelworkers and businesses in Tata Steel’s supply chain to protect jobs and grow the local economy. The latest announcement is the first project to support growth and regeneration of the region. In the coming months, there will be up to £30 million (as part of the overall £80 million) put into growth and regeneration projects.
This funding supports the UK Government’s mission to kickstart economic growth and will help deliver the ambition to raise living standards in every part of the United Kingdom as set out its Plan for Change.
Welsh Secretary Jo Stevens said:
We said we would back the community of Port Talbot through Tata Steel’s transition and we continue to do exactly that. In just six months there has now been over £50 million announced by the Transition Board to support individual steelworkers and their families, businesses in the supply chain and now on a major regeneration project for the town. Millions more will follow and while this remains a very difficult time for Tata workers, their families and the community, we are determined to support our steel communities whatever happens.
The Secretary of State will also ensure that work is progressing at pace to develop a range of wellbeing and mental health interventions. This work will prioritise the provision of mental health support, help build community cohesion, support the delivery of wellbeing initiatives and peer support within the local community including that currently delivered via local community and other support groups. Funding to support this work will be announced at the next transition board meeting.
Cabinet Secretary for Economy, Energy and Planning Rebecca Evans said:
This announcement builds on the investment that will be unlocked through the recent Celtic Freeport and other investments and innovation we are supporting in and around Port Talbot. Working alongside our Transition Bard partners, we will continue to do everything we can to provide opportunities for growth wherever they arise as well as making sure that the right assistance and support is in place for those impacted by the Tata changes.
The Leader of Neath Port Talbot Council, Cllr Steve Hunt, said:
We welcome this extra tranche of funding as the SWITCH project will attract jobs and investment to Neath Port Talbot as it progresses over the next few years. It also means this area can build on its long history in the steel and metals industries to address the challenges of our time.”
Professor Helen Griffiths, Pro Vice Chancellor for Research and Innovation at Swansea University, said:
SWITCH will leverage Swansea University’s history of uniting academia, industry, local authorities, and government. This significant investment will make Welsh research and innovation expertise even more accessible to business and industry, and help stimulate economic growth, provide long-term employment and foster a thriving community.
The South Wales Industrial Transition from Carbon Hub (SWITCH) delivers research to support industrial decarbonisation transition. This announcement of Transition Board funding for the SWITCH Harbourside project will create a new base for SWITCH. This will add to the facility’s £20 million funding from the Swansea Bay City Deal, which is also part-funded by the UK Government.