Cherwell District Council has announced that the government has approved plans that would see residents’ opportunities increased, and the local economy boosted.
Coming as part of the UK Shared Prosperity Fund (UKSPF, the council will use government investment to focus on five themes. The funding, worth £1.25 million, is controlled by the Department for Levelling Up, Housing and Communities and will be unlocked to use in the district by March 2025. It will also be allocated to the council in three instalments, coming over three years and increasing over time.
The five themes that will guide the use of the funding are business retention and growth, the green economy, investment in urban centres, community and cultural development, and enhancing life chances for vulnerable residents.
Councillor Ian Corkin, Deputy Leader of the Council and Portfolio Holder for Regeneration and Economy, said:
“We’re working to make Cherwell a more prosperous and fulfilling place to live, work, and do business, and this very significant funding award from government is a fantastic opportunity to help us do that.
“We’ve got a clear plan for how to use this money from the government: over the next three years people will notice some of the really positive improvements we’ve got planned.
“They include high-quality skills training and support for new and growing businesses. We will also be investing in community infrastructure such as new sports grounds and the development of new green spaces to increase people’s life opportunities.”
The first year of the funding will see ready-to-go projects receive investment, whilst also further developing larger ones for the future. External partners will become involved over the second and third years, with the council to make announcements in due course regarding how applications for funding access can be made.
