Grant News
£500 Million Investment to Drive Economic Growth (Wales)
The Welsh Government has announced a new Local Growth Fund worth over £500 million to boost economic productivity, employment, and development across the region.
Replacing previous funding from the European Union, the fund will now be managed within Wales under a framework agreed with the UK Government, with local authorities and partner organisations playing a key role in deciding how the funding is spent.
The fund aims to:
- support people into work and help people gain new skills and qualifications to progress into higher paid jobs
- help create and grow Welsh businesses in key sectors and boost investment in research and innovation, in areas such as health and bio-tech, financial technology, low carbon energy and AI
- address the issues that are holding back growth, such as the need for key sites and premises, renewable and low-carbon energy generation, energy efficiency, and low-carbon transport
A public consultation is planned, with further information announced in the coming months.
27th October 2025