£40 million cash boost for jobs and economic growth for UK coastStaff Writer | April 4, 2017
Communities up and down the coast are set to benefit from a £40 million cash boost, Sajid Javid announced.
New jobs Piers, promenades and coastal paths
This latest investment delivers on the government’s manifesto commitment to support fishing and coastal communities, and create an economy that works for everyone.
The funding is helping coastal tourism regain its position as England’s largest holiday sector. With one third of all domestic overnight trips made to the coast, coastal tourism is now worth £8 billion to the economy each year.
Since 2012, the government has invested £120 million in projects through the Coastal Communities Fund across the UK. The funding aims to encourage economic growth and jobs in coastal towns and communities. In 2015 Summer Budget, the fund was extended by a further 4 years until 2021 with at least £90 million of funding available UK-wide.
This latest investment comes as a new report reveals that more than 200 projects have benefitted from this funding since 2012. They are predicted to safeguard or create up to 18,000 new jobs and attract over £200 million in match funding.
The report also highlights how the fund has helped increase the popularity of coastal areas as places to work, live and visit. It has led to a rise of over two million more visitors, increasing spending by £171 million in coastal communities.
All of the projects awarded funding in this latest round were submitted or supported by Coastal Community Teams. Set up by the government in 2015, each team receives £10,000 towards the development of a blueprint for economic growth.
There are now 146 teams – made up of volunteers, councils and local businesses – up and down the country. They are tasked with producing economic plans to create jobs along the shore. ■