- Posted by: Mike Hedges MS
- Categories: Latest News, Press Releases
Transforming Towns programme to provide funding boost for towns and businesses across Wales.
Speaking from his Morriston Office, local MS, Mike Hedges said… ‘I welcome this announcement as local shopping centres such as Morriston are vital components of our communities. We know that they are under pressure because of both city centre and out of town drive through outlets. We need to retain local shopping centres and promote them. I would urge everyone who has a business in a small shopping Centre to look at this funding to see if they are eligible. If people need assistance please contact my office.’
Welsh Labour’s Deputy Minister for Housing and Local Government, Hannah Blythyn has announced a £10m funding boost for town centres, under the £90m Transforming Towns programme, to support businesses and increase vibrancy and footfall in towns across Wales. The loan scheme will support local authorities to reduce the number of vacant, under-utilised and redundant sites and premises in town centres by providing interest free loans to redevelop or refurbish sites. The properties will be redeveloped as shops, homes and leisure facilities, with loans being recycled up to three times over a 15 year period. Once repaid they can be used again to fund new loans and be re-invested in similar projects. As part of the Welsh Government’s overall investment of £41.6m previous successful projects
Mike Hedges AM
Assembly Member for Swansea East
Aelod y Cynulliad dros Ddwyrain Abertawe
include Tramshed in Cardiff, Tŷ Castell in Caernarfon and the Magistrates court in Newtown. The Tramshed in Grangetown Cardiff, which acts as a hub for other local businesses and has fully repaid it’s loan of £500,000, used the funding to create hundreds of jobs, accommodated 25 enterprises, created 7,500 sq ft of business space, supported over 40 community events annually, and increased footfall by 25,000 people per year. This funding is part of the Welsh Government’s total investment of £900m for regeneration projects alongside key partners. You can read more about this announcement here.