East Devon District Council has submitted an Investment Plan to secure UK Shared Prosperity Funds to help level up the local economy and support local communities.
Following EDDC Cabinet approval on 13 July 2022, the plan will unlock East Devon’s allocation of £1,796,363 to be spent over three years.
The UK Shared Prosperity Fund (UKSPF) replaces the European structural funds, with spending now being determined locally to more effectively address local needs. The Investment Plan set outs twelve separate themes, to be delivered either locally or collaboratively with other local authorities in Devon:
Action on Poverty Fund
Active Travel Fund
Business Support Programme
Disability Employment Support Programme
East Devon Council for Voluntary Service
East Devon Culture Programme
East Devon Leisure Programme
East Devon Towns Feasibility Work
NEET Employment Support Programme
Net Zero Innovation Fund
Sustainable Tourism Fund
A local partnership group of stakeholders has played a key role in reviewing and advising on actions to be included in the Investment Plan and a panel of East Devon councillors will provide guidance and oversight on how these are delivered
Local authorities from across Devon are exploring ways to work collaboratively and align their Investment Plans. This will help achieve improved results across a wider geography with better value for money.
Cllr Paul Hayward, East Devon District Council’s Portfolio Holder for Economy and Assets, said:
The Investment Plan will unlock essential funds for our local residents and businesses, enabling a range of initiatives across East Devon. The Plan reflects local needs and opportunities as well as addressing key priorities such as supporting the transition to a low carbon economy.
I would like to thank local businesses, community groups and other stakeholders and partners who have helped to shape and develop the Investment Plan. Local support and buy-in is key to ensuring the funds will have the maximum impact on the ground.
We look forward to receiving Government approval later in the year so we can start delivering this extensive package of initiatives.
A decision is expected by October 2022. For more information, check EDDC’s UKSPF webpage regularly.