THE first Business Improvement District (BID) covering an industrial estate in Wales is to be set up in Blaenau Gwent.

A BID serving the Rassau Industrial Estate, near Ebbw Vale, and Tafarnaubach Industrial Estate in Tredegar will start in April, running for a five-year term following a successful ballot of businesses.

The BID will focus on the regeneration of the area, aiming to to create prosperity and support the growth of the businesses.

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Businesses will pay a levy towards the organisation, which will be ring-fenced to fund projects in a business plan.

The Rassau and Tafarnaubach Industrial Estate BID will represent businesses on both of the estates, delivering projects aimed at improving the environment to do business.

A spokesman for Blaenau Gwent council said: “This is fantastic news for the borough and businesses in the area and particularly being the first industrial estate BID in Wales.

“We are able to achieve far more collaborative working with partners and businesses alike.

“As part of the BID, the board of directors that will be appointed will turn funds into a variety of business improvement projects for Rassau and Tafarnaubach Industrial Estate.

“This will improve economic, regeneration and business prospects for the specific areas.”

Funding of £30,000 to carry out a feasibility study was awarded by Welsh Government, with the council pledging a further £7,500 towards consultancy fees for the project.

The Welsh Government's economy and transport minister, Ken Skates, said the development is “great news.”

“This is the first Industrial BID to be established in Wales and will provide £387,000 of funding for the five year BID term to spend on security, maintenance, and business representation,” Mr Skates said.

“BIDs are proven to drive change, support the local economy, and bring businesses together to have a collective voice in issues that matter to them.

“I am pleased this proposal was brought forward by the Ebbw Vale Enterprise Zone and set up thanks to funding from the Welsh Government.”