Up to 3,000 extra jobs are set to be created in Wales with the backing of £17m support from the European Social Fund which will see an extension of the previously suspended Skill Growth Wales scheme.
The investment will assist 200 companies to achieve their growth plans via training support between now and March 2015 as part of an overall package of £30m, in partnership with the Labour Welsh Government.
Welsh Labour Euro-MP, DEREK VAUGHAN, welcomed the announcement that the Skills Growth Wales fund is to be reopened after initial funding run out in March last year.
"The scheme has been extremely successful in supporting 90 businesses and 8,000 employees in recent years and the new money will help to provide vital support for Welsh businesses to up-skill and compete in the global marketplace.
At a time of such economic difficulty and a lack of emphasis from the Coalition government on growth and job creation, EU funding will allow Welsh companies to develop and expand at the very time that they need it most.
This programme will enable businesses to ensure that their employees gain the highest quality skills and fulfil their potential whilst helping to contribute to improving the competitiveness of the Welsh economy."