Published: Saturday, 17th December 2022
Cannock Chase Council has been allocated just over £3million by the Government to invest in a range of projects that will benefit the local economy and local businesses.
The funding is being allocated from the United Kingdom Shared Prosperity Fund (UKSPF) and will cover the current and next two financial years: £386,724 for 2022/23, £733,448 in 2023/24 and £1,921,635 in 2024/25.
Local authorities across the country have received money from the fund on acceptance of their individual investment plans drawn up last summer.
For Cannock Chase that investment plan revolves around three themes, all designed to boost business activities, skills levels and develop a thriving economy across the District. The themes cover Communities and Place, Supporting Local Businesses and People and Skills.
The investment will see the Council working with local communities including the District’s town and parish councils, local small and medium sized enterprises, further education providers South Staffordshire College and Walsall College, as well as Staffordshire University, who plan to deliver a net zero pathfinder project to help businesses transition to become carbon neutral.
To facilitate the investment the Council plans to create a local UKSPF Partnership Group consisting of key partners, while a report to Cabinet in January will inform councillors as to how the initial funding will be allocated and how the overall investment programme will be managed, implemented and evaluated.
A delighted Councillor Mike Sutherland, District and High Street Development Portfolio Leader, said: “The money we have been allocated is another strand of the Government’s Levelling Up support for the UK, from which we have already received £20million for Cannock town centre.
“With this latest funding, tied to our own investment plan, we will be able to provide benefit across a wide part of the District. Two years ago the Cannock town centre investment was the only feasible major project we had for a Levelling Up Fund application. But this time we can reach out to other areas of our economy.”
The £2.6 billion UK Shared Prosperity Fund (UKSPF) succeeds the old EU structural funds that supported qualifying parts of the UK. The money is being made available until March 2025 and aims to `build pride in place, support high quality skills training, employment and productivity growth, and increase life chances`.
Photograph: Councillor Mike Sutherland, Portfolio Leader for District and High Street Development.