The Tourism Investment Support Scheme (TISS) helps existing tourism businesses in Wales to upgrade the quality of their facilities. The objective is to stimulate increased demand from new and existing markets.
Various changes to the scheme have recently been implemented and will take effect immediately. The maximum amount of support available has increased from £300,000 to £500,000. (The minimum investment level remains at £5,000.) Previously, the support offered would not normally exceed 25% of a project’s total cost. Visit Wales is now able to consider higher level interventions on a case by case basis.
The maximum level of support allowable will vary according to the location and size of the business. Visit Wales will only provide the minimum amount necessary to ensure the project is completed to the planned quality, scale or timescale. It is anticipated that funding of up to £25,000 will be in the form of a direct grant. For larger investments, case officers will be required to determine, in the appraisal process, if the support recommended is repayable.
Levels of funding are as follows:
Existing businesses with an eligible project cost of under £100,000.
A simplified application procedure applies for businesses seeking a minimum of £5,000.
Existing businesses with an eligible project cost over £100,000.
If a project falls within this category, applicants will need to provide a fully documented business plan including detailed financial projections, marketing and staff development plans. Assistance is limited to £12,500 per full time equivalent job created/ safeguarded, whichever is the lesser. Assistance will be in the form of a grant or repayable grant up to a maximum of £500,000 per project.
The following capital expenditure improvements can be funded through the programme:
En suite facilities and bedroom upgrading in the serviced sector.
Imaginative new visitor experiences/interpretation in tourist attractions.
Upgrading of toilets/showers, central amenities, catering facilities, electric hook-ups, environmental and site design improvements in caravan and camping parks.
Upgrading of self catering unit clusters (minimum five units).
Upgrading golf clubs to improve visitor facilities.
Upgrading to provide a Sense of Place (SOP) in accommodation and restaurants (that are visitor related).
Upgrading in the activities sector to improve the visitor experience and competitiveness.
As part of the initiative, businesses are being encouraged to show how aspects of the planned upgrade will directly benefit energy efficiency or environmental improvement.
The scheme is open to applications by private sector tourism businesses located in Wales which have been in operation for at least three years.
Applications may be submitted at any time.
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Source: Welsh Government (Visit Wales), 25/08/11