Welsh Government unveils £100m ‘targeted’ regeneration scheme

A new £100 million programme of targeted regeneration investment has been launched by the Cabinet Secretary for Communities and Children, Carl Sargeant.

Local authorities, along with partner organisations, will be able to apply for the money for projects that promote economic regeneration in areas most in need.

The £100m  will be made available over an initial 3-year phase for the period for 2018-21.

The Governments previous targeted regeneration program ‘Vibrant and Viable Places’ which came to end earlier this year, saw £124m pumped into 18 Welsh communities most in need.

Deeside benefited to the tune £8.3m with projects including energy efficiency improvements to housing in Garden City, improving the appearance of Deeside’s town centres, the remodelling of the Deeside Leisure Centre foyer.

Vibrant and Viable Places funding also provided small grants to support the creation of affordable accommodation above retail premises, eleven shop front improvements in Shotton and Queensferry were also completed under the scheme.

Carl Sargeant said the new programme has a crucial part to play in “driving prosperity and building resilient communities in all parts of Wales, rather than just in those areas that offer the best commercial returns.”

“There are particular challenges around tackling inequality and developing well-connected and sustainable communities in areas which are economically disadvantaged or blighted by earlier heavy industries.” Said Mr Sargeant.

Resources will be focused on a limited number of investment proposals with a strong and clear economic basis for regeneration.

Carl Sargeant said;

“I am also keen that this new capital investment should act in support of the other programmes underway seeking to build more resilient communities, including our employability and skills programmes.”

The new regeneration programme will be able to invest in projects from April 2018 onwards.

A National Regeneration Investment Panel will also be established which will be charged with ensuring that the investment available is utilised as effectively as possible across Wales.