A NEWPORT expert says he is disappointed that more jobs have not been created by European Objective One funds.

We reported yesterday, how Wales economic development minister Andrew Davies defended the job-creation record of the scheme - despite the fact that just 10,500 of the promised 60,000 jobs have been created in the Valleys and West Wales.

Mr Davies said that the statistics do not show the true progress the £1.2 billion scheme is making.

But Jonathan Deacon, head of enterprise and marketing at the University of Wales College, Newport, says he is disappointed that not enough jobs are being created quickly enough.

He said: "There are flaws in the way funding has been allocated however, there's more time on the clock yet."

Mr Deacon said the target figure of 60,000 jobs is an arbitrary amount and is probably a little 'adventurous' to achieve.

He added: "It's also not so much the creation of 60,000 jobs but the creation of 60,000 quality and sustainable jobs. We would also want to see jobs developed by indigenous companies."

Mr Deacon said it would have been better if the Objective One funding was available across Wales rather just in certain areas.

He said: "What would have been better is if it had been a Wales-wide fund then the likes of Newport could have used, or perhaps applied for, funding and used it in ways and on sites that are growing.

"Because they are growing in our part of the world and that development is more likely sustainable it could have created benefits to other parts of Wales where it has been hard to establish any growth in jobs."

Nick Scott, of Water Treatment Products based on the Gilchrist Industrial Estate, Blaenavon, said his company has created around ten jobs through Objective One grants. Mr Scott said he is supportive of the scheme.

He said: "It's a depressed area and through the efforts of Torfaen council it's bringing it into the 21st century. Companies like us are coming into the area and are keen to get on."

But in Tredegar James Howell, managing director of Monex, a warehouse and distribution specialist, said his company had not been able to get Objective One funding because it was in the service sector - less of a priority under the scheme than manufacturing and training jobs.

He said: "We have had no support from the Welsh Development Agency over the six years we have been here.

"We would have liked to seen some funding."