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UK Shared Prosperity Fund

Introduction

The UK Shared Prosperity Fund (UKSPF) is a central pillar of the UK Government’s Levelling Up agenda. The fund provides £2.6 billion of new funding for local investment by March 2025. All UK areas will receive an allocation via a funding formula rather than a competition.

The fund will replace some parts of European Structural and Investment Funds. It will invest in local priorities and target funding where there is evidence of need including:

  • Building pride and place
  • Supporting high quality skills and training
  • Supporting pay, employment and productivity growth
  • Increasing life chances 

Funding available to Neath Port Talbot

Neath Port Talbot's funding allocation is £27.3 million over 3 years, from April 2022 to March 2025.

The Fund is a mix of revenue and capital funding and has been ‘unlocked’ via a Regional Investment Plan. The Investment Plan was approved by the UK Government in December 2022.

In addition to this core UKSPF funding, there is funding specific to ‘Multiply’ which is currently focused on adult numeracy.

What to use funding for

There are 3 UKSPF Investment Priorities:

  • Community and Place
    • Strengthening our social fabric
    • Community infrastructure 
    • Local green spaces
    • Community-led projects
    • Building resilient, safe and healthy neighbourhoods
  • Supporting local business
    • Creating jobs and boosting community cohesion;
    • Promoting networking and collaboration
    • Increasing private sector investment in growth-enhancing activities
  • People and Skills 
    • Boosting core skills and support adults to progress in work
    • Reducing levels of economic inactivity through investment in bespoke intensive life and employment support
    • Supporting people furthest from the labour market to overcome barriers
    • Supporting local areas to fund gaps in local skills provision to support people to progress in work, and supplement local adult skills provision.

There are a number of pre-approved ‘interventions’ linked to each of the three priorities and projects will need to be developed in line with these flexible interventions. 

Multiply in Neath Port Talbot

Successful projects

Outputs and outcomes

There are specific outputs and outcomes which need to be delivered by UKSPF projects and these outputs and outcomes will be monitored and reported.

How funding will be delivered

To ensure an evidence based, targeted approach to delivering the UKSPF the following implementation approach will be adopted.

All UKSPF funded projects need to address the challenges and opportunities are outlined in the South West Wales Regional Investment Plan.

UKSPF will be delivered through:

Anchor Projects

These are themed projects managed by anchor teams that address the challenges and opportunities in the Investment Plan and deliver major parts of the Investment Plan.

The approved anchor projects for Neath Port Talbot are:

The Place anchor project seeks to strengthen the social fabric of our communities and foster a sense of local pride and belonging through investment in the three project strands detailed below.

  • A destination marketing campaign promoting NPT as an alternative year round visitor destination, and seeking to change perceptions of Neath Port Talbot as a place to live, work and visit.
  • The construction of 14 new business units in 3 locations within our valleys areas.
  • Developing a strategic masterplan for the Aberavon Seafront area, providing a basis on which future investment decisions can be made that relate to this key geographical asset.

The Valleys and Villages anchor project comprises a fund which will address opportunities for growth in our rural areas, increased demand for housing and services, and bridge the current gap in provision of grant funding for projects in our valleys and villages across the county.

The Sustainable Communities anchor project will undertake a range of activities that seek to improve and enhance our communities across the county borough, improving community cohesion and safety, engaging young people, tackling poverty and the cost of living crisis, and supporting local third sector programmes.

The Employability anchor project will provide a holistic approach to employability across the county, complimenting existing provision by focussing on five key strands of activity.

  • School Based Employability & Wellbeing.
  • Early Engagement activity.
  • Preparation for Work.
  • Paid Work Opportunities.
  • ‘In Work’ support and training.

The anchor project has been designed to offer a ‘single front door’ to improve access to the service for users, and will address gaps in current provision, providing targeted support in those areas.

The EBSGI will provide a comprehensive programme of business support for Small and Medium-sized Enterprises (SMEs) across NPT. The project will be focused on five key areas:

  • Supporting indigenous growth in key sectors
  • The Foundational Economy 
  • Financial and specialist support 
  • Feasibility studies for strategic projects
  • Developing and implementing Social Value policies to support the delivery of Community Benefits

Working with external support organisations, SMEs will benefit from a programme of support appropriate to the needs of business, cultivating a more dynamic, innovative, and greener economy, with a skilled and flexible workforce that can withstand the current and future challenges that face the local and global economy.

For more information please visit the Business in Neath Port Talbot website.

 

Grant Schemes

Grant Schemes are integrated into the anchor projects to ensure alignment and complementarity of provision with the anchors and UKSPF priorities and will address the challenges and opportunities identified in the Investment Plan.

The grant schemes will be available for voluntary and community groups (also town and community councils) and businesses.

The VVPG will address opportunities for growth in our rural areas, increased demand for housing and services, and bridge the current gap in provision of grant funding for projects in our valleys and villages across the county. The VVPG will fund projects that create sustainable growth in our rural communities and enhance our valleys and villages areas as places to live, visit and work.

It will provide grant funding for projects such as; Commercial Property projects, Residential Units (Conversion), Green Infrastructure & Biodiversity activities, Public realm, Shop Frontage Schemes, Active Travel initiatives, and local Leisure & Recreational facilities.

The HCTF is a grant fund intended to be accessed by public, private and voluntary sector partners, to deliver the priority heritage, culture and tourism projects and initiatives across the county.

Additionally, it is recognised that large and small scale events have a key role to play in enabling residents and visitors to come into contact with NPT’s distinct culture and heritage.

The fund will also be accessible to event organisers in the public, private and voluntary sectors for events which align with the Neath Port Talbot place brand and address UK SPF interventions, local need and local and regional plans and priorities.

A grant fund to increase the support offered within the communities of Neath Port Talbot, addressing areas of need, and concentrating on projects where Poverty and Equality are central themes. The fund will promote local activity for positive growth within our communities and prioritise those projects that will deliver greatest impact and value for money.

SCGF grants will be open to applications from private businesses, community groups and organisations, town and community councils and business districts, and the third sector (although in the case of third sector organisations in the first instance they will be directed toward the Third Sector Growth Fund).

Grants of between £500 and £50,000 will be available for both capital and revenue investment projects for new business start-ups, existing businesses and inward investors.

Standalone projects

These will be invited by competitive bidding rounds to fill clear gaps in delivering the Investment Plan and meet local need, align to anchor projects, and are not being met by the anchor projects and grant schemes.

How to apply

Information on how to apply for our UKSPF Grant Schemes.

Further information is available:

If you have any queries or wish to register for updates, please email SPFNPT@npt.gov.uk