- Posted by: Mike Hedges MS
- Categories: Latest News, Press Releases
Swansea East Assembly Member Mike Hedges has today welcomed the news that 154 new jobs have been created along with 30 jobs safeguarded in Swansea thanks to the Welsh Government’s Economic Growth Fund.
In total, £2,193,603 has been put towards supporting 11 businesses in Swansea, providing immediate access to capital funding for investments that will create and retain jobs.
The Welsh Economic Growth Fund is a non-repayable grant aimed at providing short-term assistance to businesses in Wales.
Nationally, 118 projects have been approved by Business Minister Edwina Hart, with an investment of over £30 million. These projects are expected to create 1,800 new jobs and safeguard around 1,600 current jobs.
Speaking on the announcement, Mike Hedges AM said:
“It’s great news that the Welsh Government has put in place a comprehensive package of business support initiatives designed to stimulate the local economy, create jobs and give a boost to the business community during these tough economic times.
“We know that many of our banks are still refusing to lend money to businesses to help them grow, which I believe is unacceptable. That’s why I’m pleased that the Welsh Government’s Economic Growth Fund is making a real difference to Swansea businesses by providing them with short term access to finance to assist with growth and job creation.”