23.08.13
Coastal communities fund to run until 2016
Support for the Coastal Communities Fund has been increased by 5% for the next year, the Government has announced. The fund will also be extended until 2016.
£29m will be invested in seaside towns, to boost the economy, reduce unemployment and to create opportunities for young people. Projects approved last year are expected to deliver over 5,000 jobs and create 500 apprenticeships.
Successful bids for the second round of funding will be announced in the autumn.
Chief secretary to the Treasury, Danny Alexander said: “The Coastal Communities Fund is giving our seaside towns and villages a real chance to grow as the nation benefits from our marine resources.
“We asked projects to be creative and they met the challenge – in year 1, each of the 51 projects that received funding was a unique response to the challenges in that area, from creating a modern harbour on the Island of Barra, to regeneration of the historic North York Moors railway, and making Wadebridge in Cornwall Britain’s first solar powered town.
“The fund will support around 5,000 jobs and has created hundreds of opportunities for local apprentices in new charitable, entrepreneurial or social enterprise schemes. Growing marine revenues from the Crown Estate have allowed us to increase the fund by 5% and I urge projects to get their bids ready for round 3 when it opens next year.
“The Government created the fund to enable coastal areas to share in the gains from our marine resources, and that is exactly what it is doing.”
Communities secretary Eric Pickles said: “This government is committed to supporting our seaside towns and we know the Coastal Communities Fund is really making a difference so I’m delighted to announce we are increasing the funding for next year.
“This will help our coastal towns make the most of their potential by diversifying their economies and industries so they can become year-round success stories. The projects our fund has already supported will support around 5,000 jobs, more than 300 new business start ups and over 1,400 training places.”
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