local-investment-fund

Business expands with support from Local Investment Fund

Water Treatment Products, has created 12 new jobs with financial assistance from the Local Investment Fund (LIF).

The company accessed  the fund with support from Torfaen council, enabling the purchase of new machinery and drastically reducing down production time. Output has boosted from 3000 units to 8000 units a day for some products and has taken on additional employees as a result.

Alison Carter, director, said: “The Local Investment Fund has allowed us to buy brand new machines that have increased our rate of production and allowed us to work around the clock. We have been able to future-proof our IT systems and carry out research and development into new products.”

The Local Investment Fund is a package of flexible financial support to assist businesses with capital  of up to 40% for approved projects, and is accessed through the local authority.

Water Treatment Products employs 43 people, accessed the  funding through Torfaen council and was paired with a dedicated business advisor. The company has now purchased five new units on its site at Gilchrist Thomas Industrial Estate in Blaenavon to allow further expansion.

Gaynor Wakeling, business development officer at Torfaen council, said: “Water Treatment Products is an excellent example of a successful business that has been able to use this funding to its full potential. They have been able to expand their operation and as a result have created 12 new jobs, providing employment for local people.

“I would urge any businesses which are interested in finding out more to get in touch with us directly.”

Find out more about the Local Investment Fund.

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