Around ten per cent of the English population live in coastal communities and many tourists visit these areas regularly for leisure purposes. Unfortunately many coastal towns and villages have lost their traditional industries and have therefore suffered a decline in employment over the past few decades. Coastal towns and villages often have individual projects underway that seek to boost the local economy such as a publicly funded skills scheme, a high street revival programme or plans by the council – but they can often work in isolation, according to gov.uk. In July 2015, NovaLoca began looking at government funding giving seaside towns the chance to rejuvenate and unlock their economic potential. To aid the recovery of coastal communities, the government have recently set up a £3 million ‘Coastal Revival Fund’ which allows “in need” areas to bid for the fund. What does the fund offer? The Coastal Revival Fund, part of the Coastal Communities Fund launched in 2012, will support projects to help revive heritage assets that are important to local communities looking to unlock the economic potential of buildings, landscapes, facilities and amusements and sustain them in the longer-term. The hope is that the fund will improve local economies by boosting opportunities that the coastal economy has to offer for new businesses and existing companies. It will support projects that demonstrate the creativity, enterprise and passion needed to help seaside towns become year round destinations in which people want to live and work. How has the Coastal Communities Fund been successful so far? There have already been three rounds of funding in order to revive coastal communities in 2012, 2013 and 2014. The funds helped complete a total of 98 projects in England, forecasted to create more than 10,000 jobs throughout the areas involved. An article by Veredus stated that, “funding rounds one and two had made 103 cash awards, with a total value of £53.8 million – split 80% for England and 20% for the rest of the UK. Infrastructure and property projects accounted for more than 70% of awards – by both volume and value. Tourism meanwhile attracted 60% of all spending (estimated at around £33.3 million), while the food and fishing sector accounted for £2.3 million of investment.” What else is on offer? Applications for the £3m Coastal Revival Fund are now closed; however the Government are keen to keep funding like this going due to previous success. According to Veredus, The Prime Minister is also set to help communities in Scotland by offering £116.6 million to all coastal communities there. According to gov.uk, “the government have invested £91 million so far in England through the Coastal Communities Fund which will deliver over 11,000 jobs, provide over 6,000 training places and apprenticeships, and attract over £128 million of further investment. The Coastal Communities Fund has now been extended with at least a further £90 million to 2020/21.” If you are from a coastal community looking to make a bid for Government funding or have already been... Read more
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