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Our multi-million pound Coastal Communities Fund is helping over 100 innovative projects across the country fulfill their potential, stimulate the local economy and supporting over 10,000 jobs and almost 4,000 training places for young people.Coastal communities are a glorious part of Britain’s heritage and economy - contributing £4 billion to the country each year - so I designed the Coastal Communities Fund to ensure that we can maintain their vibrancy for residents and tourists alike in the future.This government has secured a stronger economy, and now we’re investing in coastal communities to ensure that this is felt across the UK as part of our drive to create a fairer society.The Coastal Communities Fund was launched in 2012 to invest in seaside towns and villages, helping them achieve their economic potential, reduce unemployment and create new opportunities for young people in their local area.It is helping seaside towns make the most of their potential by diversifying their economies and industries so they become year-round success stories.
Almost £3 million of funding will be used to restore a derelict Grade II art deco cinema in Margate, create a new contemporary arts centre in Whitehaven, and rejuvenate Littlehampton’s riverbank to attract business investment and opportunities.
The projects will create 250 jobs, and attract £1 million from other private and public bodies.
The government is committed to helping seaside towns create vibrant economies as part of the long-term economic plan to boost jobs, infrastructure and businesses around the country.
The Coastal Communities Fund has to date already spent £62 million on supporting local enterprises and infrastructure, and is set to create 8,600 jobs around the UK, and safeguard 2,100.
The fund will provide 4,000 training places and apprenticeships for young people and also attract over £100 million of public and private finance.