The Local Growth Fund is funded by the UK Government and delivered by the Welsh Government in Wales. It replaces the Shared Prosperity Fund and includes around 70 per cent capital and 30 per cent.
Torfaen Council has been given £6.5m for 2026-2027 which will be invested in the following projects:
Skills and employment
Increasing Skills and Supporting People Into Work
The project will prioritise workforce development, enabling individuals to upskill and progress within employment through targeted, demand-led training aligned to employer and sector need. A feasibility study will also be undertaken to provide detailed insight into local skills gaps, employer demand and emerging sector needs.
Business support
Community Enterprise Incubator
Based at Pontypool Indoor Market, it will provide a comprehensive package of support, including access to finance, governance guidance and business planning for start-ups.
Springboard growth and soft-landing
Aimed at accelerating early-stage business growth and strengthening the regional innovation ecosystem, it will include three months' rent and free legal support.
Thriving Together: Enterprise & Infrastructure
Capital‑led programme supporting 15 local enterprises, including small and medium-size businesses and social enterprises to adopt renewable energy technologies, improving productivity through reduced operating costs and increased resilience.
Torfaen Business Growth
Enhanced business resilience, productivity, and competitiveness through structured engagement, targeted networking, and tailored advisory support aligned to each stage of the business lifecycle.
Torfaen Strategic Economic Forum
Working with the top 60 businesses in the borough, the forum will identify opportunities to work with the council to identify both private sector and public sector solutions.
Improving regional infrastructure
Pwll Du Southern Portal Restoration
The Pwll Du Southern Portal Restoration project will stabilise and restore a nationally significant industrial heritage asset within the Blaenavon World Heritage Site.
Tirpentwys Trails Outdoor Recreation
The project seeks to transform an existing informal outdoor recreation destination into a sustainable, accessible and economically beneficial multi-use visitor hub for Torfaen as part of a proposed Pontypool Mountain Bike network.
Torfaen Strategic Sites, Investment Readiness
Specialist consultants will be commissioned to undertake financial appraisals, development viability assessments and investment readiness studies across a portfolio of strategic development sites.
Employment space
Refurbishment of large vacant industrial unit in Cwmbran aimed at a small to medium-size business tenant.
Digital infrastructure
Second phase of a joint programme with Blaenau Gwent Council aimed at improving investment readiness, business productivity, digital participation and economic growth through coordinated planning and partnership development.
Activation strategy
Baseline analysis, targeted events and direct business and entrepreneur support to increase business activity in town centres, test new trading opportunities, reduce vacancy and create evidence-led plans for future regeneration investment.
Site Assembly and Acquisition
Strategic programme of land and property acquisition to support delivery of regeneration opportunities identified within the Pontypool Masterplan.