Treasury Chief Secretary Danny Alexander today announced the 5% rise in a fund for Scotland to help the communities achieve their economic potential. Overall, the UK total will increase by £1.3m to more than £29m.
Launched in 2012, the fund aims to invest in seaside towns and villages, helping them achieve their economic potential, reduce unemployment and create new opportunities for young people in their local areas.
The range of projects, which covers the whole of the UK and which was approved in the first year of the fund, is predicted to deliver more than 5000 jobs and create 500 apprenticeships nationwide in the coming years.
Successful projects have included the coastal path on Kintyre Way, the National Lobster Hatchery in Cornwall, boat-building apprenticeships on the west coast of Scotland as well as improved ports facilities and pier regeneration in Eyemouth and Irvine, together with many other innovative projects across Scotland and the UK.
In the recent spending round, the UK Government pledged to extend the scheme to 2016, which will mean even more communities from across the UK could bid for a share of the pot for growth boosting initiatives. "The Coastal Communities Fund is giving our seaside towns and villages a real chance to grow as the nation benefits from our marine resources," said Mr Alexander.