FUNDING has been secured to explore setting up a Business Improvement District (BID) on two industrial estates in Blaenau Gwent.

Blaenau Gwent council has been awarded £30,000 from the Welsh Government to carry out a feasibility study into establishing a BID for the Rassau Industrial Estate, Ebbw Vale, and Tafarnaubach Industrial Estate in Tredegar.

The council has appointed a specialist consultant to undertake the study into setting up the scheme.

A notice published by the council on the Welsh Government's Sell2Wales website says: "The strategy study will identify the level of demand for such a scheme, whilst harnessing ideas and energy from the business community.

"This will involve consulting with the business community to gain an understanding of the appetite for taking the scheme forward and a commitment to the establishment of the company allowing the BID to move forward.

"The local authority interest will diminish to one of an advisor role once, and if the scheme is established."

BIDs are defined areas where businesses are charged a levy which is used to fund projects that will benefit the local economy.

The money is collected by the council but held by an independent management company, with businesses able to apply for shares of the fund to improve their sites.

Projects which could be funded include road repairs, cleaning and maintenance, or new signage.

A full consultation with businesses will now be undertaken, and the council says initial feedback has been positive.

Councillor Dai Davies, executive member for regeneration, said: "I am delighted to see that a potential Business Improvement District could be implemented on two key strategic industrial sites within Blaenau Gwent and that the Welsh Government has approved funding for a feasibility study to be carried out.

"If the BID is found to be a suitable option it will assist with boosting the local economy and will support and encourage regeneration activity on both industrial estates."

Newport City Council also recently submitted an application to the Welsh Government for funding to support a digital BID.

The scheme, if approved, could be the first BID in the UK to focus solely on improving an area’s digital economy.