£2.3 million of European Union (EU) funds will be used to improve facilities and create new premises for small and medium-size businesses in Bridgend, according to Welsh Finance Secretary Mark Drakeford.
The EU funding will support the redevelopment of the Innovation Centre at Bridgend Science Park and the construction of a new enterprise centre at the Village Farm Industrial Estate (along with £1.2 million from Bridgend County Borough Council).
The project will create more than 2,500m
2 of business premises, which will accommodate around 35 start-up and early-years companies.
Mr Drakeford said: “This is excellent news for the business community in Bridgend.
“It will provide the quality infrastructure that new businesses need to thrive.
“Combined with the work we are doing with businesses to understand the challenges they face and the opportunities they have for growth and innovation, it will create more jobs and grow prosperity in the area.”
Councillor Charles Smith, cabinet member for regeneration and education at Bridgend County Borough Council, said: “The modern enterprise hub will greatly benefit small and medium-size businesses, helping to meet growing demand for new premises, while strengthening the local economy.”