A new fund to help support seaside towns create new jobs and prosperity was launched today by Communities Secretary Eric Pickles and Chief Secretary Danny Alexander.
The £23.7 million Coastal Communities Fund has been created to provide struggling coastal communities all across the country with money to support new opportunities that can make their towns prosper.
A variety of organisations are being invited to apply for the funding, to diversify and transform seaside economies by allowing them to rejuvenate traditional assets or exploit new emerging industries.
Successful applicants can expect to get a grant of between £50k and £2million. Pickles said he would especially like to see quality bids come in from social enterprises, charities, local businesses or local enterprise partnerships.
He commented: “Seaside towns and coastal communities have huge potential for economic growth that we simply can’t afford to waste – this fund can make all the difference to these places we all know and love.
“This is a great opportunity for long overlooked seaside towns, large and small, to grab a chance to grow through imaginative and innovative projects that create skilled workers, and provide year round jobs that build stronger local economies.”
The Fund will be financed by the Government from revenues from the Crown Estate’s marine assets.