More than £20m worth of funding has been approved from the Tata Steel/Port Talbot Transition Board this month for work on three multi-million regeneration schemes.
The announcement is the latest round of funding from the board, for projects it says will support more than 270 jobs along with the creation of additional construction jobs in the area.
The new investment is worth a total of £21.2m and is part of a wider £70m funding that has been announced in the past nine months.
The Tata Steel/Port Talbot Transition Board was set up in 2023 in order to support workers, businesses and communities in the wake of changes at the Tata Steel site based in Port Talbot.
The first of the three funded projects will see £12.5m given to help create an Advanced Manufacturing Production Facility/National Net Zero Centre of Excellence (AMPF) at Harbourside, Port Talbot.
The aim of this scheme, worth a total of £35m, is to develop a production and training centre that will "drive forward low carbon and net zero skills training" in the area.
Once completed it will make specialist equipment and test products that will also contribute to "up-scaling advanced manufacturing in the region".
It will receive additional funding from the Swansea Bay City Deal. Elsewhere, £8.7m will go towards fully funding the redevelopment of two local business premises at the Metal Box near Briton Ferry and the Sandfields Business Centre.
These two projects will convert and expand two existing buildings to "provide high quality accommodation to enable tenants to expand and improve access to new business units".
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Following the announcement, Secretary of State for Wales Jo Stevens said: "This latest investment means more than £70m has been announced by the Transition Board in just nine months, delivering on our promise to the community.
"The plans for the Celtic Freeport, development of floating offshore wind, preservation of steelmaking in the town and significant funding for regeneration all mean there is a bright future for Port Talbot."
Neath Port Talbot Council leader, Steve Hunt added: "As we work closely together in meeting the challenges of decarbonisation, it is vital that we also support local people and businesses to maximise the opportunities it offers.
"The investment announced today will provide a significant boost to our ongoing work with partners to promote economic growth and to provide people with the skills needed for the industries of the future."