Construction Firms To Gain From Welsh Government Funding

£10 million is to be delivered through the Property Development Fund which aims to revitalise the construction industry.

The fund, which support smaller scale building projects will be delivered across Wales.

The Welsh Government grant will be managed by Finance Wales and is a response to the strong demand from small to medium size constriction companies struggling to access finance from traditional sources.

The aim of the fund is to be ‘evergreen’ with interest and capital repayments being recycled and reinvested to support new projects, typically within 18-24 months. Potentially, the fund will be able to generate up to £30 million of available finance over five years.

Welsh Government figures estimate this process could create an additional boost to the national economy of around £19 million, creating up to 900 direct and indirect jobs and safeguarding a further 700 positions.

Businesses wishing to apply for investment from the fund should contact Finance Wales on 0800 587 4140 or visit their website www.financewales.co.uk for more information.

Commenting Lesley Griffiths said: “Stimulating the construction industry is one of the Welsh Government’s key aims and this investment can hopefully provide a significant boost to the sector.”

“An improved construction industry can impact positively on the local and national economy, safeguarding and creating jobs as well as regenerating local amenities, infrastructure and the environment.

“I would recommend any construction businesses in Wrexham interested in obtaining extra funding to contact Finance Wales.”