Margate is one of 100 towns across the country that will receive investment of up to £25 million from the government’s Town Deals Fund.
In an announcement today (September 6) by Local Government Secretary Rt Hon Robert Jenrick MP it was revealed Margate is one of the towns is now invited to develop proposals for regeneration plans.
The £3.6 billion Towns Fund is to boost places that have proud industrial and economic heritage but have not always benefitted from economic growth in the same way as more prosperous areas.
Communities, businesses and local leaders will now join forces to draw up ambitious plans to transform economic growth prospects with a focus on improved transport, broadband connectivity, skills and culture.
Local Government Secretary, Rt Hon Robert Jenrick MP, said: “Ensuring that prosperity and opportunities are available to everyone in this country, not just those in London or our biggest cities, is at the heart of the mission of this government.
“We want to level-up our great towns, raising living standards and ensuring they can thrive with transformative investment in transport, technology, skills and culture.
“I will now work with local people from the 100 communities announced today to agree proposals to invest up to £25 million in each place. I hope these deals will provide the investment and the impetus for long-term renewal ensuring each town can look to the future with a new optimism.”
The government is due to publish a prospectus to guide towns through the process and set eligibility criteria for funding.
Once approved, new Town Deals will improve connectivity, provide social and cultural infrastructure and boost growth – with communities having a say on how the money is spent. Decisions on funding any proposals will be made in due course.