Seaside towns such as those on the Isle of Wight will have a chance to bid for £90m of government funding under measures announced by the Chancellor in Wednesday’s Budget.
Ministers welcomed the extension of Coastal Communities Fund to 2020 as part of the government’s long-term economic plan to revitalise seaside towns and unlock their economic potential.
Launched in 2012, the Coastal Communities Fund has already invested nearly £119 million on 211 projects local infrastructure and economic projects across the UK. This is helping to create almost 13,700 jobs and provide more than 10,280 training places and apprenticeships.
Communities Secretary Greg Clark said:
“Britain has a proud seaside tradition which this One Nation Government is determined to revive so they can be year-round success stories. Unlocking the economic potential of our seaside towns will create jobs, build infrastructure and boost local economic growth.
“We know our multi-million Coastal Communities Fund is already having a big impact on communities and local seaside economies, and the extension of the fund will mean other areas will have the chance to bid for funding.”
19 of the 39 Local Enterprise Partnerships (LEPs) are in coastal areas and as part of the government’s growth deals, more than £700 million has been committed to projects in these areas to improve transport infrastructure, broadband connectivity, improving flood defences and improving opportunities for local people.
8 out of the 24 enterprise zones are in coastal areas which offer incentives for businesses to start up or expand including Business Rates relief, superfast broadband and simplified planning – with a further two prospective coastal enterprise zones in Blackpool and Plymouth announced in the March 2015 Budget. Coastal enterprise zones have delivered more than 5,300 jobs to date and helped to secure nearly £275 million of private sector investment to coastal areas.
Coastal Communities Minister Mark Francois said:
“I’m delighted our Coastal Communities Fund will continue. This Government investment ensures areas can create skilled workers and year round jobs that will build stronger communities and stronger local economies.
“This fund, together with the creation of our Coastal Community Teams, will be an important catalyst for change and help secure the long-term future of our seaside towns so communities can drive forward their vision, unleash business opportunities and thrive.”
