The towns of Newbridge and Bargoed are set to receive £2.3 billion of funding from the EU Development Fund. This is to undertake regeneration work of the towns, including the renovation of derelict land as well as physical improvements to the businesses and surrounding areas. With this inflow of finance, there is a hope to boost private sector investment whist providing continued economic development and sustenance to the areas.
The EU regional development fund was set up in 1975 to demonstrate the direct benefits of membership of the EU. Its aims include the supporting of innovations and businesses, promoting enterprise and building sustainable communities. This funding in Wales has already resulted in the establishment of 8200 enterprises, helped 54,300 individuals into work and benefited over 494,300 participants.
Where or how do you think the council should distribute the funding?