Introduction to Objective 1

The Objective 1 Programme seeks to increase the growth and prosperity of economies that are currently lagging behind the European average in terms of Gross Domestic product (GDP) per head. The designation of West Wales and the Valleys as an area meriting Objective 1 support derives from the fact that the regions (GDP) per head is less than 75% of the European Union average.

Over the seven years of the Programme (2000-2006), the region will receive €1.85bn euros (£1.165m) from the EU.
This will be matched by at least, a further €2.1bn euros (£1.323m), comprising €1.392bn euros (£876m) from the UK public sector and 691m euros (£435m) from the private sector. In total the Programme will be worth about €3.9bn euros (£2.45bn)

With this funding, Wales has undertaken to:

• raise per capita GDP in the region from 73% to 78% of the UK average
• create around 43,500 net additional jobs
• reduce the number of those who are economically inactive by 35,000

To achieve these aims requires prosperity and a high quality of life for communities across all parts of West Wales and the Valleys. This can only be achieved by the creation of a high quality, job creating, diversified, innovative and knowledge driven economy with a skilled, enterprising and adaptable workforce

What areas of Wales are eligible for funding?
The areas of West Wales and the Valleys eligible for Objective 1 funding comprises of the local authorities
boundaries of:

Isle of Anglesey
Blaenau Gwent
Bridgend
Pembrokeshire
Swansea
Conwy
Torfaen