Shared Prosperity Fund

The UK Shared Prosperity Fund is a UK Government programme that provides funding for local investment in communities, businesses and people and skills. 

Between 2022-2025, Torfaen Council received £24m, which was invested in 20 projects focused on supporting people’s skills, improving communities and local places and supporting local businesses. 

The projects also addressed the council’s County Plan Wellbeing Objectives.  

The Shared Prosperity Funding programme has been extended until March 31, 2026, after which it will be replaced with a new funding framework. 

This year, Torfaen Council has been allocated £8,283,380, which will be used to support projects focused on driving economic development, community infrastructure, energy efficiency and prevention.  

They include: 

• £1.2m for a 3G pitch at Cwmbran High 
• £1m for the Pontypool Cafe Quarter and Cultural Hub development 
• £250,000 town centre property enhancement grants 
• £500,000 for Torfaen Clean Energy Project 
• £540,746 for the Torfaen Good Food Economy initiative 

SPF impact and benefits

The outcomes of the 2022-2025 funding programme in Torfaen included:    

People and skills 

• 800 people helped into employment
• 456 people helped to retrain
• 1045 people successfully completed a course or qualification
• 652 people successfully gained a vocational licence
• 1411 People helped by the Multiply numeracy programme

Community and place  

• Improvements to 164 premises, 1,313 public spaces and 39 amenities
• 3,480 areas made wheelchair accessible
• 168 grants for community organisations plus 279 supported
• 267 public events and activities
• 2,500 new trees
• 502 volunteering opportunities
• Increased use of cycleways and footpaths

Supporting local businesses  

• 64 new jobs and 118 safeguarded
• 22 new enterprises, plus support for 1,367 others
• 319 enterprise grants
• Installation of 13,871 low or zero carbon energy equipment