In a significant move to bolster the economy of South Wales, the UK Government has announced £8.2 million in funding for the first regeneration project in Port Talbot.
This initiative, named the South Wales Industrial Transition from Carbon Hub (SWITCH), is set to create and support over 100 jobs and eventually generate more than £87 million for the local economy.
Welsh Secretary Jo Stevens made the announcement while chairing the latest meeting of the Tata Steel Port Talbot Transition Board. The SWITCH project will see the redevelopment of a four-acre site at Harbourside, Port Talbot. This redevelopment will include the construction of additional shared space, flood mitigation measures, and the provision of specialist equipment.
The investment aims to establish an Innovation District in Port Talbot, facilitating the development of a new facility targeted at supporting the steel and metal industry and its supply chain in reducing carbon emissions in production. This facility is expected to significantly contribute to the local economy and create sustainable job opportunities.
Welsh Secretary Jo Stevens commented:
“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 £8.2 million funding is part of the UK Government’s broader £80 million Tata Steel/Port Talbot Transition Board fund. Since July last year, £51 million has been allocated to support individual steelworkers and businesses within Tata Steel’s supply chain, with the goal of protecting jobs and fostering local economic growth.
The latest funding announcement marks the first project dedicated to the growth and regeneration of the region. In the coming months, up to £30 million will be invested in additional growth and regeneration projects.
This funding aligns with the UK Government’s mission to kickstart economic growth and raise living standards across the United Kingdom, as outlined in its Plan for Change.
In addition to economic initiatives, the Secretary of State is committed to developing a range of wellbeing and mental health interventions. These efforts will prioritise mental health support, community cohesion, and the delivery of wellbeing initiatives within the local community. Further funding announcements to support these initiatives are expected at the next transition board meeting.
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