Businesses and organisations across South West Wales have less than two weeks to bid for government growth money for projects worth £500,000 or more.
The catch: any project has to be finished by the end of December 2028.
Expressions of interest close on Saturday 31 October.
The money comes from the Local Growth Fund, which the UK Government pays for and the Welsh Government manages in Wales.
A report to Neath Port Talbot Council’s cabinet in March put the region’s first-year allocation at £39.36m. Of that, £27.58m is capital, the money for buildings and other physical projects.
What the Local Growth Fund wants to pay for
The call is being run by the South West Wales Corporate Joint Committee, which brings Swansea, Neath Port Talbot, Carmarthenshire and Pembrokeshire councils together on regional decisions.
It wants projects that help businesses grow and innovate, get people into work and improve their skills, or upgrade regional infrastructure such as development sites, transport and energy.
Ideas must fit the region’s economic plan and the Welsh Government’s priorities for the fund. They also have to show they can be delivered, pay their way, leave a lasting legacy and be environmentally sustainable.
Some revenue funding, the money for running costs rather than building, may also be available, the committee says.
Smaller schemes and grants go through the region’s anchor projects
The committee is not inviting projects that duplicate its three “anchor” schemes, which already cover smaller grants, business support and skills help across the region.
In Swansea, the council is already offering grants of up to £50,000 to businesses through the same fund.
Feasibility studies will be paid for only if they lead to a project being built within the timeframe.
Rob Stewart: ‘Ambitious projects that can make a real difference’
Cllr Rob Stewart, chair of the committee, said: “This is an exciting opportunity to unlock investment in ambitious projects that can make a real difference to our regional economy.”
He added: “We want to hear from innovative organisations, businesses and partners with ideas that can boost productivity, support jobs and skills, strengthen infrastructure and help create long-term sustainable growth across South West Wales.”
He said the region had “enormous strengths and potential”.
An expression of interest, not a formal bid
This first stage is not a formal application. Each project needs its own form, and putting one in does not guarantee any money.
Projects the committee shortlists will be invited to make a full application and go through further checks. The form and guidance are on the committee’s Local Growth Fund page.
And whatever gets through, it all has to be built by December 2028.
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