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Funding from the Assembly Government's Single Investment Fund has covered the costs of four days consultancy with a revenue specialist to enable Arena Pontardawe to update and validate their business plan and develop detailed financial forecasts for the next six years.
Their plans, which have developed over a number of years, are centred on the unused Glanrhyd Industrial Estate; a 15 acre site which they hope will become the hub for a range of activities including equestrian, cultural and sporting events.
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The purpose designed facility would be used by local community groups and attract larger scale events and touring exhibitions to the area which could boost the local economy and provide employment and training opportunities.
The first two phases are estimated to cost £1.3m with total project costs in the region of £5m if a third phase, involving the construction of a larger adjoining indoor arena, goes ahead.
Ieuan Wyn Jones, Minister for the Economy and Transport, said the Single Investment Fund had been created to support businesses of all sizes, including social enterprises.
He said: "The Fund can provide support for large companies with ambitious expansion plans but also has an equally important role to play in providing funding for smaller organisations and social enterprises like Arena Pontardawe that are working for their communities. In this case the funding has enabled Arena Pontardawe to buy in expert help to take their project to the next stage."
Planning is due to be submitted within the next two months for the first phase. This will consist of a 2,400 sq m indoor multi-purpose arena with a demountable floor to provide a range of flexible uses, facilities for people with special needs, ten small business units for related activities, changing rooms, a training and education suite, café and car parking.
(CD/JM)
