Well-being Objective 6

Economy & Skills Delivery Plan

• Worked with Aneurin Bevan University Health Board, Welsh Government and 3 South East Wales Universities to explore the feasibility of creating a life sciences medi park
• Provided a base through the Springboard Innovation centre for 126 companies to start up and grow 750 new jobs in the local economy
• Identified through our Local Development Plan where improvements are needed to increase investment and expansion of employment land
• Undertaken customer mapping to identify current processes which demonstrated it is difficult for businesses to engage seamlessly with the council
• Supported over 50 businesses through Torfaen Business Voice and kept it going through the pandemic creating over 42 e-shot bulletins and increasing membership to enable local businesses to have support in their development and growth

• Work with partners to progress the Medi Park Outline Business Case (Depending on WG Roads Review and funding decision)
• Review and refocus Springboard Business Innovation Centre to become a hub within a network of innovation spaces for new and emerging businesses
• Create and implement Investment Prospectus to promote the refurbishment and establishment of new industrial land to promote the County and attract new businesses
• Work with the Torfaen Strategic Economic Forum to identify and establish other innovation spaces across the Borough for new and emerging businesses
• Create and implement Business Direct as a single point of contact for business customer journeys so they receive a prompt, efficient and customer focused service

Prosperous

Responsible

Healthier

Economy & Skills Delivery Plan

Communities Approach Delivery Plan

• Grown the number of businesses in Pontypool Indoor Market to 42
• Provided financial support to 6 businesses through the Community Renewal Fund foundational economy project
• Provided £50,000 in financial support to local businesses through the council’s Covid Recovery Fund

• Bring in new market traders who fill gaps in what we can currently offer from Pontypool Indoor Market
• Create and implement a commercial programme of training by March 2023 that can be sold to businesses to fill the gaps in the existing training available to businesses and help them to grow
• Grow the foundational economy Community Renewal Fund pilot project which provided support to small, local businesses with marketing and town centre premises to reach a further 20 businesses

Prosperous  

Cohesive

Shared Prosperity Fund

• Engaged with stakeholders to propose a suite of interventions for Torfaen’s £20m allocation from UK Government

• Depending on UK funding announcements due in Autumn 2022 we will take forward the proposed suite of interventions to improve prosperity

Prosperous

Equal

Economy & Skills Delivery Plan

Children & Young People’s Service Delivery Plan

Digital-First Customer Strategy

Communities Approach Delivery Plan

• Create employment and training opportunities for residents when we procure major contracts or deliver construction projects