The figures are taken from a comprehensive report which has been published by the Welsh Government showing progress in each of Wales’ eight Enterprise Zones.
Figures revealed in the Enterprise Zones annual report 2017/18 show businesses located in the Zones benefited from in excess of £5.3m of direct support, while public sector investment in transport and infrastructure to improve accessibility to the zones stood at over £52m.
The Llangefni Link Road, which is part of the plan to develop Llangefni Campus as an internationally renowned Energy and Engineering Training Facility, the Eastern Bay Link Road in Cardiff and the new Brynmawr to Tredegar section of the A465 are just some of the infrastructure investments included in the report that have been designed to support the growth of the Enterprise Zones.
The annual report also reveals that:
- nearly 96% of premises in Enterprise Zone locations have been Super Broadband enabled
- £11m worth of business rate support has been allocated to businesses in the zones
- designated sites within Deeside, Ebbw Vale, Haven Waterway and Port Talbot have been given Enhanced Capital Allowances to support ongoing work to enhance the infrastructure and make them more attractive to investors.
The Economy Secretary said:
“I am pleased to report that our Enterprise Zones supported 1550 jobs in the last financial year, taking the total of jobs now supported through the programme to more than 12,250.
“The report also show that collectively the zones have benefitted from £57.6 million of public sector investment, with funding being used to improve transport links and infrastructure and provide businesses with the best possible conditions in order to help them develop and grow over the short and longer term.
“While all eight Enterprise Zones are at different stages of development and face their own challenges and opportunities, the report confirms that they are all making significant progress, and laying the foundation for the type of inclusive and sustainable prosperity that we are working hard to drive through our Economic Action Plan.”