Shared Prosperity Fund: Gwynedd

Latest news: 11 December 2023
Cyngor Gwynedd has decided to commit an additional £270,234 of the Multiply budget of UKSPF funding to the projects Team Around the Young Person 2 by GISDA and the Gwynedd Community Resilience Program by Cyngor Gwynedd

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Cyngor Gwynedd, with the help of local partners, has selected 39 projects from across Gwynedd to receive funding directly from the £24.4 million the county receives from the UK's Shared Prosperity Fund (SPF).

Details of each project under the SPF's three priorities can be read below:

Successful applications included the creation of several funds to allocate smaller amounts of SPF funding to support Gwynedd's enterprises and communities: 

The UK Shared Prosperity Fund (UKSPF) is a central pillar of the UK Government’s Levelling Up agenda and will provide £2.6 billion of funding for local investment across the UK by March 2025.

The overarching objective of the Fund is to build pride in place and increasing life opportunities.

The UKSPF aims to achieve this through three investment priorities: 

  • Community & Place
  • Supporting Local Business
  • People & Skills (including adult numeracy – Multiply) 

The UK Shared Prosperity Fund Prospectus provides a comprehensive overview of the Fund.

All the documentation relating to the Fund published by UK Government is accessible from: Levelling Up and Community Investments Documents

All parts of the UK will receive funding from the UKSPF. A total of £126.46i million has been allocated to the North Wales region which includes the counties of Wrexham, Flintshire, Denbighshire, Conwy, Gwynedd, and the Isle of Anglesey. The total includes £15.24 million which must be used to support adult numeracy (the Multiply programme).  

The allocation for Gwynedd is £24,423,747, of which £2,942,620 is ringfenced for the Multiply Programme.

 

Delivery of the UKSPF in Gwynedd

To minimise cost and complexity, Local Authorities in North Wales are working together to administer the UKSPF. However, Cyngor Gwynedd decided which projects received money in Gwynedd with the advice of a partnership of local stakeholders.  

During January and February 2023 there was an opportunity for any organisation needing over £250,000 of SPF funding to submit an outline application.  In Gwynedd 114 applications were received from projects seeking over £51 million of SPF funding. Based on an assessment of the applications, and the advice of the Shared Prosperity Fund: Gwynedd Advisory Group, in May 2023 Cyngor Gwynedd chose to invite 47 projects to submit a detailed application for funding.

It is not anticipated that there will be another opportunity to submit applications for over £250,000 of SPF funding in Gwynedd. 

Following the receipt and thorough assessment of the detailed applications, on July 20, 2023 Gwynedd Council's Cabinet agreed a to offer £21.96 million of Gwynedd SPF funding to 39 projects.


Where is the money being spent?

A total of £21,957,249 of the Gwynedd SPF has been allocated to 39 projects.
29 projects will operate in Gwynedd alone and 10 projects operating regionally.

The money is split between each investment priority as follows: 

  • Community and Place:£12.27 million to 18 projects
  • Supporting Local Business: £5.16 million to 12 projects
  • People and Skills: £4.53 million to 9 projects (which includes £1.28 million of Multiply funding)                          

It is envisaged that the activities will deliver significant outcomes for Gwynedd residents and communities including: 

  • Provide financial support to 961 businesses, enterprises and organizations in the county
  • Support 400 local residents to improve their numeracy skills
  • Helping 3,100 homes save energy
  • Support the creation or safeguarding of 292 jobs in the county
  • Help 728 people to secure a qualification
  • Support 172 local residents with health challenges to return to work

Details of each project under the SPF's three priorities can be read below:

 

Contact us

For more information contact: FfyniantBroDU@gwynedd.llyw.cymru  

To find out more about the Shared Prosperity Fund in North Wales visit: Shared Prosperity Fund: North Wales

 

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