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£1.25m for projects to increase opportunities for local people and boost the economy
10/02/2023
“Over the next three years people will notice some of the really positive improvements we’ve got planned”
A £1.25m pot of government money is heading to the Cherwell District to invest in projects to increase opportunities for local people and to boost the local economy. The money is due to be spent in three main areas up to March 2025.
The cash comes from the Department for Levelling Up, Housing and Communities, who approved Cherwell District Council’s UK Shared Prosperity Fund (UKSPF) investment plan. As part of the Government’s levelling up agenda, the money is provided to invest in schemes and infrastructure that will help boost productivity, spread opportunities, and build pride in communities.
£460,000 is being targeted towards urban centres, greater access to the arts and culture, community infrastructure improvements, the development of local green spaces, and investment in new community sports facilities.
Local business will be supported with £545,000, focused on measures to help start up, growing and urban centre businesses. It will also support businesses in meeting the challenges of climate change.
A further £250,000 will be focused on employment support for economically inactive people, and making sure local skills match the needs of local businesses.
Councillor Ian Corkin, Deputy Leader of the Council and Portfolio Holder for Regeneration and Economy, said: “We’re working to make Cherwell a more prosperous and fulfilling place to live, work, and do business, and this very significant funding award from government is a fantastic opportunity to help us do that.
“We’ve got a clear plan for how to use this money from the government: over the next three years people will notice some of the really positive improvements we’ve got planned.
“They include high quality skills training and support for new and growing businesses. We will also be investing in community infrastructure such as new sports grounds and the development of new green spaces to increase people’s life opportunities.”
Cherwell will receive the funding from government in three annual instalments. During the first year the council will be investing in a number of relatively small, ready-to-go projects, whilst feasibility studies are prepared for subsequent years.
Published: by Banbury FM Newsteam