Local benefits from Foundational Economy projects
The Welsh Government believes that “services and products within the foundational economy provide those basic goods and services on which every citizen relies and which keep us safe, sound and civilized. Care and health services, food, housing, energy, construction, tourism and retailers on the high street are all examples of the foundational economy. The industries and firms that are there because people are there. Estimates suggest they account for four in ten jobs and £1 in every three that we spend. In some parts of Wales this basic ‘foundational economy’ is the economy”.
Dawn Bowden AM said “I welcome the funding awarded for a number of projects that directly relate to the Merthyr tydfil and Rhymney constituency, as well as others that will bring more generic benefits to the constituency. Much of this work relates to discussions we have held in the Valleys Taskforce. I know from my recent visit to Elite Paper Solutions that such local investment can bring valuable benefits in local communities”.
The money recently awarded by the Welsh Government includes:
People Plus Cymru – £100,000
To develop up-skilling projects with social care employers to deliver quality training for staff.
Merthyr Tydfil CBC – £98,500
To use vacant commercial premises for use by start-up businesses helping to tackle the blight of empty high street premises.
Bevan Foundation – £99,920
For a community regeneration think tank, in partnership with the Wales TUC, to help increase fair work in foundational sector businesses.
Elite Paper Solutions – £85,190
To work with public sector stakeholders to change procurement practices and place more contracts with social enterprises that support those furthest from the labour market.
Bevan Foundation – £73,690
To identify how the foundational economy can flourish in specific locations.