The funds will be used to deliver a range of new and refurbished high-quality commercial properties in north and west Wales as well as the south Wales valleys.

Seventeen of the projects from the £7m Property for Business Development Grant Fund (PBDG) and 11 from the £7m Property Infrastructure Fund (PIF) have been provisionally allocated funding. 

Firm grant offers will be made when second stage applications have been received, further assessed and formally approved.

The projects chosen will provide more than 1 million sq ft of new and refurbished office and industrial floor space.

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“The selected projects represent a geographical spread across north, west and south-east Wales and will support business growth and job creation, providing tangible benefits for local economies,” said Ken Skates, the economy secretary.

“The grant support available through these EU-funded projects will help stimulate the market, create new high-quality industrial space and offices to accommodate jobs and, most importantly, meet the needs of local businesses.”

The two development funds will be used for new build and refurbishments/extensions/adaptions with the PIF scheme aimed specifically at advance build developments.

The PBDG fund is targeted at supporting businesses with bespoke expansion projects.