£1.85m cash injection to boost local business

Seven Powys projects have received Shared Prosperity Fund support worth a total of £1.85 million to help boost business investment and create jobs.

The awards have been made by the Powys Shared Prosperity Fund (SPF) Local Partnership Board, supported by Powys County Council’s Economy and Climate Service, under its Supporting Local Business theme.

“Our objectives under the Supporting Local Business theme are to create jobs and boost community cohesion, promote networking and collaboration, and increase private sector investment in growth-enhancing activities,” said Councillor David Selby, the council’s Cabinet Member for a More Prosperous Powys and Chair of the Powys SPF Local Partnership Board.

The successful projects are:

• Powys Business Growth Grants: £716,724 to Powys County Council’s Economy and Climate Service to run a scheme to help businesses in Powys fund work that will either create or safeguard jobs.
• Hay Festival: £250,000, to Hay Festival Foundation, to help support the Winter Weekend in the short-term and for a feasibility study to look at the best way of securing its long-term future. 
• BEACON Mid-Wales: £249,999 to Aberystwyth University for a project providing support and open-access to AgriTech/biorefining scale-up facilities, training and expertise.
• NutriReValorise: £248,868 to University of South Wales to help key rural industrial sectors, including agriculture, switch to more productive ways of dealing with nutrient rich waste.
• Preparing to Grow: £195,595, to University of Wales Trinity Saint David, to provide bespoke support to the leaders and senior staff at 70 Powys businesses looking to increase in size from small to medium-sized companies.
• Growing Mid Wales Careers: £144,310 to NPTC Group of Colleges for a work experience app that can be used by schools, colleges and employers in Powys, to help them connect and arrange placements for students.
• Mid Wales Business Energy Efficiency Boost: a further £43,014, to Severn Wye Energy Agency, to help small and medium-sized businesses reduce their energy bills and CO₂emissions.

For more information on the UK SPF in Powys visit https://en.powys.gov.uk/article/14045/UK-Shared-Prosperity-Fund-Open-For-Applications or email: ukspf@powys.gov.uk

The Powys SPF Local Partnership Board is responsible for deciding how the just over £26 million in SPF money allocated to Powys for 2022-25, by the UK Government, should be spent.

The partnership includes Powys County Council, Bannau Brycheiniog National Park Authority, Powys Teaching Health Board, NPTC Group of Colleges, Business Wales, Mid Wales Regional Skills Partnership, Mid Wales Tourism, Mid Wales Manufacturing Group, Powys Association of Voluntary Organisations, Wales YFC, NFU Cymru, Farmers’ Union of Wales, Chambers Wales, and One Voice Wales.