JUST 175.5 new full-time jobs have been created at the Ebbw Vale Enterprise Zone since it was founded in 2012, new figures have revealed.

There are eight enterprise zones in Wales, where companies are offered special packages of support from the Welsh Government in an effort to boost the economies of the surrounding areas.

And now statistics released by the Welsh Government following requests from the Welsh Conservatives show 175.5 jobs were created at the Ebbw Vale zone over the past five years.

Another 70.5 full-time roles which would otherwise have been cut have been safeguarded. while 144 jobs were also 'assisted' during the period - when roles were created by companies in receipt of less-intensive forms of support from the Welsh Government.

In total across the eight zones 2,998 new jobs were created, 4,539 were safeguarded and 3,169 were assisted since the 2012-2013 financial year.

The Welsh Conservatives' shadow economy secretary Russell George said: “When Enterprise Zones were launched in 2012, we were told they would strengthen the competitiveness of the Welsh economy, but there’s little evidence of those claims coming to fruition.

“Some of the zones have clearly underperformed, and in the long run this policy could prove to be the biggest waste of public money in the devolved era.

“At £74,000 a job, most firms could employ three people on full-time contracts, and it’s far from clear how many of these firms were already located in the zones before they were established.”

Taxpayers have shelled out £221.16 million on the zones since 2012, including £94 million in Ebbw Vale, by far the greatest number spent in any of the zones. The next largest amount was spent in the Cardiff Central zone, where £62 million was spent over the five year period.

Leader of the Welsh Conservatives Andrew RT Davies said: “Instead of creating vibrant hubs for enterprise, these zones look more like the subsidy farms of the Soviet era.

“Sooner or later the question will need to be asked: is it time to stop throwing good money after bad?”

But a Welsh Government spokeswoman accused the Conservatives of presenting the employment figures in "a misleading and misrepresentative way".

"The total figures include wider investments we have made in dozens of major infrastructure projects across Wales such as the A465 dualling programme, the Llangefni Link Road, the Cardiff Bay link road, the dualling of the A40 as well as the Ebbw Vale rail extension and new station," she said.

"All these projects have directly benefitted businesses within the zones and surrounding areas.

"The Welsh Conservatives should welcome the fact that our Enterprise Zones have attracted considerable private sector investment and supported over 10,000 jobs since 2012.”