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Investment Plan Submitted to Unlock Funds for Borough

 

South Tyneside Council has developed a high-level investment plan to help unlock millions of pounds of government funding to support growth and prosperity.

 

The plan is needed to access the borough's three-year allocation of £8.87milllion from the UK Shared Prosperity Fund, which aims to 'build pride in place and increase life chances across the UK'.

The submission sets out how the money will be spent to help achieve the fund objectives of boosting productivity, opportunities, pay, jobs and living standards, as well as enhancing a sense of community and local pride.

Earlier this year the council launched a South Tyneside Prospectus and invited bids from organisations that could deliver projects which would meet the objectives and complement key local growth priorities.

 

More than 100 expressions of interest were received.

 

Cllr Margaret Meling, Lead Member for Economic Growth, Skills and Climate Change, said: "We had a significant response to our open call for bids and have appraised them all thoroughly, including evaluation by an independent third party.

 

"We prioritised proposals that can make a real difference and have maximum impact in the borough, particularly in the first year of the fund.

 

"We've identified eight 'ready to go' projects, which deliver on the Fund's themes such as town centres, culture, business support, green spaces, fuel poverty, digital inclusion, anti-social behaviour and community engagement, as well as aligning with our key priorities."

 

The Local Investment Plan, which will now be submitted to the Department for Levelling Up, Housing and Communities, will set out measurable outcomes.

 

The Council will develop a project pipeline, with a view to an expected start in October.

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