Windfall for town
PUBLISHED: 13:00 06 November 2008 | UPDATED: 09:58 10 June 2010
EXMOUTH is getting a sizable slice of a £750,000 cash injection to help boost its struggling economy. The money, pledged by Devon County Council, will go towards community infrastructure, and is part of a £5 million rescue package. And Exmouth, as Devon's
EXMOUTH is getting a sizable slice of a £750,000 cash injection to help boost its struggling economy.The money, pledged by Devon County Council, will go towards community infrastructure, and is part of a £5 million rescue package.And Exmouth, as Devon's largest town, along with Dawlish and Seaton, will get a sizable piece of the pie to encourage regeneration groups.The news comes after recent figures show that business bankruptcies in the region have risen by nearly a quarter since the summer.It is hoped the cash, rubber stamped at the council's executive on Tuesday, will stimulate economic growth by supporting key projects - similar to Government plans to keep people in employment by bringing forward capital projects.The funds will be allocated over three years with £1.7 million to a Devon employment strategy, £1.4 million for Skypark, £700,000 towards information, communication and technology, £450,000 for renewable energy for Devon and £750,000 for community infrastructure in coastal towns.Devon County Council Leader Brian Greenslade said: "The county council is determined to fulfil its leadership role within the community and with this investment we are doing our bit to boost the local economy at what is a difficult time for everyone.