£18million Investment Fund plan submitted by East Devon District Council

East Devon District Council (EDDC) has submitted an Investment Plan to secure UK Shared Prosperity Funds to help level up the local economy and support local communities.

Dan Wilkins www.midweekherald.co.uk 

Following EDDC Cabinet approval on July 13, 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 sets out 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
  • Retrofit Programme
  • 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, EDDCs 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.