Property development fund
This scheme aims to provide financial assistance for the construction of buildings for industrial and commercial use with the primary aim of creating capacity for employment in Carmarthenshire.
Priority will be given to applications that will provide tangible benefits to the local economy in terms of quantity and quality of jobs accommodated/jobs created, the area of floor space created, the amount of land developed, the number of SME’s accommodated, the impact of the development on the Welsh Language & the number of enterprises adopting or improving equality strategies & monitoring systems.
The aim of the programme is to support applicants that require financial aid for their projects to proceed, i.e. if funding were not forthcoming the project would not proceed.
The funding is available to meet the financial gap between the construction costs and the completed market value of the property. The incentive on offer is aimed to stimulate the supply of high quality business premises within Carmarthenshire by offering funding towards high quality industrial units or office accommodation.
Owner occupier led projects (occupying 50% or more of the proposed building) will also be required to demonstrate job creation opportunities and grant will be fixed at £20,000 per job created or the following intervention rate whichever is the lesser figure:
- Small enterprises - 45%
- Medium enterprises - 35%
- Large enterprises - 25%.
Eligibility for this programme will be determined on a case by case basis.
To discuss your project idea further, contact the project officer, Rhian Furlong on 01267 242319 or email RFurlong@carmarthenshire.gov.uk.
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