Businesses invited to apply for grants of up to £1.5m as new Tata Steel transition fund opens

Businesses across Neath Port Talbot, Swansea and Bridgend are being invited to apply for a major new funding opportunity designed to support investment, growth and job creation as part of the Tata Steel transition.

The Economic Growth & Investment Fund, administered by Neath Port Talbot Council on behalf of the UK Government and Tata Steel UK, is now open for applications, offering grants of between £300,001 and £1.5 million to support business expansion and new economic opportunities in the region.

The fund has been established to help stimulate investment in sectors with strong growth potential, including advanced manufacturing, engineering, green energy, digital technologies and other industries linked to the emerging green economy.

Businesses can apply for funding to support projects such as the purchase of new equipment, upgrades to commercial premises, investment in new technologies, or initiatives that enable companies to diversify, increase productivity and create high-value employment.

The programme forms part of the wider economic response to Tata Steel UK’s decarbonisation plans and aims to support businesses that can help drive long-term economic growth across the region.

Applicants will need to demonstrate how their projects will deliver clear economic benefits, including new investment, job creation, and innovation within their sector.

Councillor Steve Hunt, Leader of Neath Port Talbot Council, said: “The transition taking place at Tata Steel represents a significant moment for our local economy. This fund provides an important opportunity to support businesses that are ready to invest, grow and create new jobs across Neath Port Talbot and the wider region.

“We want to encourage ambitious businesses with strong growth plans to come forward with projects that can deliver lasting economic benefits, strengthen our local supply chains and help build a more resilient economy for the future.

“Neath Port Talbot Council is proud to be administering this fund on behalf of the UK Government and Tata Steel UK, and we look forward to supporting businesses that can play a key role in the region’s next chapter of economic development.”

Secretary of State for Wales Jo Stevens said: “This new fund is a powerful example of what can be achieved when government and business work together to deliver for communities. Backed by over £11.7 million, it will help local businesses grow, create high-quality jobs and attract more new investment to Port Talbot.

“The UK Government acted decisively to ensure that steelmaking would continue in Port Talbot and also to provide extensive financial support for steelworkers, supply chain businesses and the wider community.

“So far £122 million has been allocated by the Port Talbot Tata Steel Transition Board resulting in thousands of grants distributed locally for retraining, business investment and regeneration projects.

“We said we would back the steelworkers of Port Talbot, their families and businesses dependent on Tata Steel and we have delivered on that promise.”

Tata Steel UK Chief Executive Rajesh Nair said: “Tata Steel UK’s £5 million contribution to the new Economic Growth and Investment Fund reflects our ongoing commitment to supporting the long‑term development of the Port Talbot area as we transition to greener steelmaking. This new fund will help encourage businesses to come into the area, grow, innovate, and create high‑quality local jobs.

“We are proud to work alongside the Transition Board and our partners across government and local authorities to strengthen and diversify the local economy, support skills development and attract the long‑term investment that will secure a sustainable future for Port Talbot and its communities.”

The fund operates through a competitive application process, with projects assessed on criteria including economic impact, value for money, innovation and deliverability.

Successful applicants will be required to contribute match funding and demonstrate how their project will support business growth and long-term economic benefits for the region.

Businesses interested in applying are encouraged to review the application guidance carefully before submitting their proposals.

Applications must be submitted to Neath Port Talbot Council’s Tata Grants Team.

Further information about the Economic Growth & Investment Fund, including eligibility criteria and application guidance, is available at www.npt.gov.uk/TataEGIF.