A £38.4m investment is soon on the way to boost communities and places, local businesses and people and skills throughout Swansea.

Part of the UK Government’s levelling-up agenda, the Shared Prosperity Fund is one of the UK Government funds replacing European funds that are no longer available after Brexit.

Based on a local investment plan, proposed anchor projects to benefit in Swansea include:

• A supporting communities project that will provide grant funding for community and third sector projects
• Transforming places throughout the county, with projects earmarked to include grant funding for historic structures and conservation areas, improvements to villages and small town centres, and heritage-led regeneration activities and trails
• A culture and tourism anchor project that will include the development of a creative network, digital skills and support for businesses in that sector
• Boosting rural areas with funding for rural community development, climate change themed activities and support for rural businesses
• A package of schemes to support Swansea businesses including start-up grants, growth grants, carbon reduction grants, training for businesses to move towards net zero carbon, and a commercial property development fund
• A pathways to work employability project that will include support for economically inactive and long-term unemployed people aged 16 and over, paid work placements and a £2m grant funding open call for specialist employability support

These projects will be run by Swansea Council, with more information and application details for grant schemes being made available in the coming weeks.

A general open call worth at least £8m for eligible external projects that will help to deliver the regional investment plan will be issued as part of the overall funding package, along with an open call for skills-related projects of £3m. There will also be a call for projects focused on supporting adult numeracy under a multiply theme that’s worth £5.2m.

Cllr Rob Stewart, Swansea Council Leader, said:

“Although this funding is considerably reduced when compared to previous EU funds, we’ve worked hard to develop anchor projects that will benefit all parts of Swansea – from our city centre and small town centres to our rural communities and fantastic businesses.

“As part of the funding, investment will also be made in boosting people’s skills and helping the long-term unemployed tackle challenges they may be facing to finding work.

“This is important because we have a £1bn regeneration programme on-going throughout the city that’s aimed at creating thousands more job opportunities for local people.

“Once our Shared Prosperity Fund proposals are given final approval at the council’s cabinet, we’ll look to introduce these projects as soon as possible, and would ask for people’s patience while application and bidding details for these funds are finalised.

“Further announcements will follow in the coming weeks once that level of detail is in place.”

Swansea Council is the Shared Prosperity Fund lead regional local authority for South West Wales.

Each of the four regional local authorities have their own local anchor projects due for imminent approval. They’re based on a regional investment plan that was approved by the UK Government in December 2022 to help unlock the funding for South West Wales.