Coastal Communities Fund protects 18,000 jobs

Money invested through the Coastal Communities Fund has protected or created around 18,000 jobs in seaside towns across the UK, according to new government analysis.

£120 million has been invested through the fund since 2012, which has supported more than 200 projects that aim help coastal areas reach their economic potential.

Communities Minister Mark Francois has suggested that every £1 spent on these projects has the potential to create a £8 boost to coastal economies.

The investment has covered a wide range of projects, from arts and heritage projects to new business hubs to tourist attractions. These include: a £1.9 million investment for Blackpool City Council to transform its iconic illuminations, which could create up to 500 new jobs in the local area; an award of £4 million for Cornwall Tate St Ives to renovate and expand its gallery so visitors can use it all year round, which is forecast to bring in an addition £87 million benefit to the local community over 10 years; and £2.7 million to revamp Scarborough Market, which will support around 30 new businesses and showcase local food and produce.

Francois said: “We’re determined to unleash the enormous potential of our Great British coast, which is why we’ve invested £120 million in the last three years alone.

“We’ve already helped more than 200 projects get up and running across our much-loved seaside towns, bringing not just a wave of excitement but also protecting or creating up to 18,000 jobs.

“And with every £1 we invest having the potential to create an up to £8 boost to our coastal economies - that’s money well spent.”