Saturday, December 3, 2022
Council provides millions to invest in local businesses

Council provides millions to invest in local businesses

CARMARTHENSHIRE County Council is ready to invest around £4million in local businesses.

The council is launching a variety of new grants aimed at supporting new and existing businesses, aimed at stimulating new economic growth throughout the county.

The Economic Development team is inviting businesses and entrepreneurs, both established and new, to find out whether they are eligible for financial support.

A combination of grants and loans are being made available for businesses to grow in Carmarthenshire.

The biggest investment will be for the development of commercial property.

£1.5million is being made available in the Carmarthenshire Transformational Commercial Property Development Fund to stimulate the supply of high quality business premises.

£1million is being made available under the Carmarthenshire Rural Enterprise Fund aimed at stimulating growth in the rural economy.

£895,000 is being offered to businesses who want to develop or relocate to Llanelli or Ammanford town centres, under a new round of the Town Centre Loan Scheme.

Businesses are also to benefit with £500,000 being offered for new business start-ups and existing businesses looking to expand, with grants of up to £10,000 being available.

Priority will be given to businesses that create and safeguard jobs, ensuring the investment will have a long-term positive impact on the economy.

As well as the businesses benefiting directly, the local construction industry and supply chain is expected to benefit as businesses look to build and expand premises.

Cllr Emlyn Dole, Leader of the council and executive board member for regeneration, said: “This is a significant investment that we hope will have long-term benefits for Carmarthenshire, not only for the businesses that could be eligible for support but because of the future jobs they will create.

“Strengthening our local economy is a key aim of the executive board’s Moving Forward in Carmarthenshire plan, so I’m delighted to announce this funding which I hope will energise the county and help us build a more prosperous future.”

Information and eligibility criteria about all the grants on offer is available on the council’s website

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