The Nuclear Decommissioning Authority (NDA) has awarded £597,764 to Gwynedd Council to support the Gwynedd Economy Programme for the next three years.
Over 25 businesses will benefit from expert advice, business grants and measurable plans, with the potential to create over 50 jobs, support 90 people into employment and enable 30 young people to achieve formal qualifications.
This next phase of funding ensures that local people and businesses can take full advantage of opportunities arising from high value growth developments and industries in Gwynedd and beyond.
The funding announcement was made at an event last night at the Trawsfynydd Conference Centre marking the 20th anniversary of the NDA and the Trawsfynydd Site Stakeholder Group (SSG).
It brought together members of the community to showcase the progress made over the last two decades and recognise the importance of the long-standing relationship between the NDA and the local community.
John McNamara, NDA Director of Communities and Stakeholder Engagement, said: "This funding demonstrates us delivering on our commitment to invest in our site communities and support programmes which will deliver positive and sustainable change for generations to come.
"Engaging with the communities around our sites about how we carry out our nationally important mission is crucial to our licence to operate and we want to encourage more residents to come forward and engage with us on our work."
Cllr Medwyn Hughes, Cyngor Gwynedd's Cabinet Member for Economy and Community, said, "We very much welcome the news - this grant will enable us to undertake a number of activities to develop the economy of South Meirionnydd and beyond, now and in the future"
Cllr Elfed Roberts, Trawsfynydd ward councillor, added: "The Trawsfynydd Site provides good quality employment for over 200 local people. Being able to support alternative jobs in preparation for the time when the decommissioning of the site is completed is a priority, and I'm sure the community will be pleased that this grant from NRS and the Nuclear Decommissioning Authority will support our efforts. "
Over the past two decades, Trawsfynydd site has made significant progress in its decommissioning journey. Major site structures such as the turbine hall and administration and stores complex have been demolished, steadily reducing the site's footprint.
Plans are now progressing to reduce the height of the 55-metre reactor buildings by about a third, marking another major decommissioning milestone with a continued focus on hazard reduction, innovation and delivering value for communities and the environment.
The NDA group is responsible for decommissioning the UK's earliest nuclear sites safely, securely and sustainably, leaving a positive legacy for future generations.
The Site Stakeholder Group (SSG) plays a vital role in shaping how the NDA and NRS deliver their work, representing the views of the community and providing a valuable sounding board on a wide range of issues.
Having a broad spectrum of views is vital and the NDA and NRS are seeking to increase the diversity of the SSG to ensure it reflects the local community and incorporates a variety of voices and perspectives.
It'll be many more decades before decommissioning at Trawsfynydd is complete and the NDA and NRS are encouraging members of the community have their say.
