EU funds of £3.5m will be invested in the first stage of a major development to create a new business hub in Port Talbot’s former docks.
The funding will support a full redevelopment of three hectares of brownfield land; the construction of a new access road and the upgrade of an existing road in what will become strategic employment site for the area.
The two-year project will prepare the site for business investment and the development of more than 200,000 square feet of industrial and office space, which could accommodate around 1,600 jobs.
Finance Secretary Mark Drakeford, said:
“I’m pleased EU funding is again supporting a key infrastructure and economic growth project in Port Talbot.
“This is an exciting milestone in the redevelopment of the Harbourside area of Port Talbot, which will bring new business opportunities and jobs. The investment is great news for the area and provides another valuable boost to drive the local economy.”
The investment in the new development at Harbourside follows substantial EU funding in the regeneration of Port Talbot, including £54m for the Harbour Way M4 link road; £7.5m in TWI’s new engineering research centre and £2.5m in the town’s new transport hub.
Councillor Annette Wingrave, Neath Port Talbot Council’s cabinet member for regeneration and sustainable development said:
“This funding is fundamental in allowing the council to realise its regeneration aspirations for Harbourside and the surrounding area.
“It will enable us to transform this former docks area into one of the most important strategic employment sites in the region.
“Part of Port Talbot Waterfront Enterprise Zone, this further investment in Harbourside will deliver an even more compelling proposition for businesses and companies looking to invest here.
“We have made an excellent start with the new Court Services building and the R&D village at Harbourside Business Park but this will allow us to push on and take full advantage of the investment that has been made in Harbour Way, Port Talbot Parkway Station and the new transport hub.
“It will also support our regeneration work in Port Talbot town centre via the Welsh Government’s Vibrant and Viable Places programme, which is already transforming areas in the town. These are exciting times for the county borough.”