Paignton’s MPs Kevin Foster and Anthony Mangnall have welcomed today’s news (Saturday, 26th December 2020) £13.36m has been approved by the Government for Paignton’s Future High Streets Fund, the highest amount for any project in Devon & Cornwall.
When combined with the £150,000 of revenue funding provided in August 2019 this brings the total confirmed support from the Government for delivering Paignton’s future to just under £13.5m, the highest amount from the fund allocated to a scheme in Devon or Cornwall.
The funding will support a range of projects including work to regenerate Crossways and to get the Paignton Picture House reopened. It is estimated every £1 of Future High Streets Funding could secure £7 of further investment.
Today’s announcement will see a total of up to £830 million from the Future High Streets Fund invested in 72 areas across England. 5 Areas in Devon and Cornwall are included in this announcement: Plymouth City Centre (£12,046,873), Barnstable (£6,548,876), Newton Abbot (£9,199,364), Paignton (£13,363,248) and Penzance (£10,403, 112).
The funding will help these areas transform their high streets into vibrant hubs for future generations and to protect and create thousands of jobs. This funding is part of wider support the Government is providing to communities and businesses, to protect jobs, support the most vulnerable and ensure no one is left behind as we tackle the Covid-19 pandemic head on.
The Future High Streets Fund was launched in December 2018 and is a key part of the Government’s plan to renew and reshape town centres – making them a more attractive place to live, work and visit. £107 million of the Future High Streets Fund has been allocated to DCMS to support the regeneration of heritage high streets.
Kevin Foster MP said
“This is fantastic news for Paignton and a real boost for the whole community. Paignton Town Centre has faced many challenges over recent years and the decline has sadly been visible for all to see. Yet the Future High Streets Fund can be a real turning point for Paignton bringing new life to the town centre and restoring the historic Picture House which has been empty for too long.”
Anthony Mangnall MP said
“Reshaping and renewing our high streets are key to encouraging new businesses, jobs and opportunities.”
“It is particularly welcome to see a total of nearly £13.5m coming to Paignton for the Future High Streets Fund. This sum of money will be essential in rejuvenating our local businesses and high streets and help to attract further investment to the bay. Once again, I am delighted to see that the South West, particularly South Devon, is not being overlooked as we level up across the whole country.”