County Council funding for Economic Regeneration

Cumbria's economy was given a boost today after the County Council's Cabinet approved nearly three quarters of a million pounds of funding for economic regeneration activities. 

Councillor Kevan Wilkinson, County Council spokesman for Economy, said:   

"Cumbria County Council has a long history of supporting economic development initiatives both independently and working with a variety of partners. We are committed to regenerating Cumbria's economy and renewing our most deprived communities and the funding we have approved today will go some way towards achieving those goals. 

The County Council, along with the North West Development Agency, was a key player in setting up West Lakes Renaissance, the county's Urban Regeneration Company and the Rural Regeneration Company. The creation of these two agencies has changed economic regeneration in Cumbria and that is why we are passing for the first time funding directly to those companies to enable them to decide how best it can be used on local initiatives." 

The County Council is currently reviewing the regeneration activities it supports as part of a wider review of economic development in the county and while that is taking place, will continue to provide its usual funding for this financial year. 

A total of £523,000 was awarded to Strategic Organisations including Cumbria Inward Investment Agency, Cumbria Tourist Board, Regeneration Support Team and European Liaison Unit, Cumbria Brussels 'Office', Cumbria Economic Intelligence Partnership, European Technical Support Fund and the Land Reclamation Preparation Budget. 

Initiatives to be funded via West Lakes Renaissance Urban Regeneration Company include Maryport Development Company, Furness Enterprise, Workington SRB Project and Wigton Regeneration Company. The Rural Regeneration Company include Made in Cumbria, Cumbria Community Foundation and funding for local regeneration projects drawing in significant European funding through Fells and Dales and North Pennines Leader + programmes. 

The individual regeneration projects supported are the Border Visions Project Fund (£5,000), Cumbria Young Farmers Club (£10,000) and Shipbuilding Communities campaign (£5,000).