Further Towns Fund details revealed

Following the announcement that five Lancashire towns are to receive funding for regeneration, the government has revealed further details of how the money will be allocated.

Blackpool, Darwen, Leyland, Nelson and Preston will all each receive a share of a £3.6bn pot which has been made available to 100 towns which have "proud industrial and economic heritage but have not always benefited from economic growth in the same way as more prosperous areas."

The five towns will each receive between £162,000 and £173,000 to kick-start plans.

They can later pitch for as much as £25m to be spent on redeveloping vacant buildings and land, driving private sector investment by supporting small businesses and ensuring young people have the skills they need to get good jobs, and enhancing connectivity through improved transport links and increased access to high-speed broadband.

Towns have also been encouraged to seek the thoughts of residents through the MyTown initiatve, which garnered 10,000 responded within the first week. 

We are giving local people in Lancashire the money and power to decide what is best for their town

Jake Berry MP, who is the minister for the Northern Powerhouse and Local Growth as well as representing Rossendale and Darwen, said: "We are giving local people in Lancashire the money and power to decide what is best for their town because they know their community’s unique strengths.

“Together we can build on the billions of pounds the Government has already invested in our towns and the thousands of new jobs and businesses it has delivered, to level up these places across the Northern Powerhouse and beyond.”

The full Towns Fund prospectus can be download from the gov.uk website.

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