Welsh Labour’s Economy Minister Edwina Hart has announced the establishment of the Port Talbot Waterfront Enterprise Zone to help create economic growth and jobs for the area recently hit by steel job losses.
The Enterprise Zone status will offer financial incentives to companies based there, including tax and business rate breaks, and was one of the key actions to come out of the Tata Steel Task Force to help support the steel industry.
Port Talbot Waterfront is already well placed to become an Enterprise Zone because of its high skill levels, location, infrastructure, and connectivity. The Enterprise Zone will be based around established and potential employment sites in the area which have significant capacity for supporting new businesses.
The Enterprise Zone will be based around the employment sites of:
- Baglan Energy Park
- Baglan Industrial Estate and
- Habourside / Port Talbot Docks.
A map of the area will be made available shortly. Port Talbot Waterfront Enterprise Zone is Wales’ eighth Enterprise Zone. As of end of September 2015, the other seven Zones had created, assisted or safeguarded over 7,795 jobs in Wales and paved the way for further investment and development.