East Devon has been succesful in securing a new £1.8 million pound Investment Plan

The county will receive £1,796,363 in funding over three years from government, designed to replace European Union structural funds.

Following assessment of East Devon District Council’s Investment Plan for the UK Shared Prosperity Fund, the Secretary of State for Levelling Up, Housing and Communities (DLUHC) has conditionally approved almost £1.8m funding for East Devon over the next three years.

The primary goal of the Investment Plan is to support the transition to a net zero economy, build pride in towns and villages, support business development and improve opportunities for local people to grow their skills.

Funding for year one (2022/23) is set at £218,005, funding for year two (2023/24) is set at £436,011 and funding for year three (2024/25) is expected to be £1,142,347. These funds are conditional on complying with the terms and conditions of the funding.

Cllr Paul Hayward, East Devon District Council’s portfolio holder for economy and assets, said: “This is fantastic news for East Devon! We’re delighted that our plan has been approved. It means we can progress our aims to transition to a net zero economy, improve skills to create a vibrant workforce and support culture and leisure.

“We had expected confirmation of the funds in October. This means we will need to work very quickly to allocate year 1 funding before 31st March 2023.

“We will be calling for grant applications from East Devon businesses for a new round of the Innovation and Resilience Fund and a new Culture, Leisure and Tourism Fund. Full details of the criteria for grants will be made available as soon as possible. In the meantime, interested businesses should sign up for the business newsletter to receive the latest information.”

The East Devon Investment Plan proposes funding for twelve interventions:Action on Poverty Fund, Active Travel Fund (starts 2024), Business Support Programme, Disability Employment Support Programme (starts 2024, East Devon Council for Voluntary Service, East Devon Culture Programme, East Devon Leisure Programme, East Devon Towns Feasibility Work, NEET Employment Support Programme (starts 2024), Net Zero Innovation Fund (delivered through the Innovation and Resilience Fund two), Retrofit Programme (starts 2024), Sustainable Tourism Fund (partly delivered through the Culture, Leisure and Tourism Fund)