Cabinet receives update on plans for £23m Shared Prosperity Funding

The Cabinet of Bridgend County Borough Council has received an update on how the authority is planning to benefit from UK Government’s new Shared Prosperity Funding (SPF).

Designed to replace European structural funds, councils are being encouraged to apply for SPF funding and to use it for projects which boost productivity, pay, jobs and living standards, encourage the private sector to grow, create opportunities, improve public services, instil a sense of community, local pride and belonging, and which empower local leaders and communities.

As councils within the Cardiff Capital Region are expected to collaborate and feed into one regional investment plan, Rhondda Cynon Taf County Borough Council has been appointed to act as the lead authority and to progress the area’s individual plans.

In total, Bridgend County Borough Council is seeking more than £23m under the themes of people and skills, supporting local business, and community and place..

Among the projects that the authority wants to support are:

• Just over £1m for health, climate and economical projects that will develop stronger and more resilient local communities along with a ‘Resilience Hub’ featuring space for exhibitions and demonstrations as well as a trader’s area and pop-up seminars and workshops.
• More than £2m for projects and initiatives that help develop community capacity, such as establishing a new third sector fund or extending grants that support commercial properties beyond local town centres.
• £725,000 for green space enhancements and projects such as the Great Glamorgan Way, a 270km network of ‘green corridors’ connecting communities throughout the region.
• £400,000 to support local development and investment plans.
• £3m for a prosperity co-production framework between the council and appropriate local organisations across all areas of the UKSPF.
• £3.5m to establish new centres of enterprise across the county borough.
• £425,000 to support development and investment plans that deliver new options for diversification, decarbonisation and growth.
• £450,000 to provide training, advice and more as part of a local enterprise support programme, including opportunities for testing new products.
• £450,000 to support the development more tourism events throughout the county borough.
• £150,000 to provide and enhance targeted marketing campaigns in partnership with the local tourism industry
• £8m to support an employability and skills framework package which will support people in employment and key sectors, unemployed and economically inactive people and young people to enter employment.
• Almost £4m for the Multiply initiative which aims to improve adult numeracy and help them to develop new skills.

As the lead authority within the region, Rhondda Cynon Taff will now put forward the council’s local investment plan for UK Government to consider in closer detail. Look out for further reports to Cabinet as the plan progresses.