The Government has announced that the Coastal Communities Fund (CCF) is being extended to 2020/21, with a minimum further investment of £90 million, intended to unlock the potential of communities around Britain's coastlines.
The additional funding will help seaside localities to be revitalised and drive forward local economies.
The CCF is designed to support the economic development of coastal communities by promoting sustainable economic growth and jobs, so that people are better able to respond to the changing economic needs and opportunities of their area. It can fund a wide range of projects, including those that support charities, the environment, education and health.
The programme's extension was confirmed following the Chancellor's summer 2015 Budget as part of the Government's long-term economic plan to revitalise seaside towns.
First launched in 2012, the CCF has so far invested almost £119 million in more than 200 local infrastructure projects across the country. This investment is helping to create nearly 14,000 jobs and provide more than 10,000 apprenticeships and training places.
Innovative bids have previously been welcomed from businesses, social enterprises, local enterprise partnerships, charities, voluntary groups and local authorities supporting economic development within the community.
Speaking about the extension to the scheme, 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."
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."
Details of future bidding arrangements and individual fund levels are expected to be announced as part of the Spending Review 2015.
Further information will be reported when available.
Source: Department for Communities and Local Government, 09/07/2015