The Fund was set up by the government to support the economic development of coastal communities by promoting sustainable economic growth and jobs. During its first 2 years the Fund invested in 103 projects in the UK from Shetland to Cornwall, and Anglesey to Kent.
Rounds 1 and 2 of the Fund have invested over £50 million in over 100 projects across the UK and helped attract almost £100 million of other funding. The projects are forecast to create or safeguard nearly 10,000 jobs, and will support over 800 apprenticeships and provide training to more than 6,000 people. They will generate economic benefits of 11 times the value of the grants awarded.
The Fund has supported projects from a wide range of coastal local authorities, public and private sector bodies and voluntary and community organisations.
Examples of the kind of project the Fund has supported include the development of new infrastructure to support economic diversification, upgrading of heritage or visitor centres, support to the food and fishing sectors, training in boat building, maritime and catering skills, the development of coastal paths/ walkways and heritage railways, and support to the renewable energy industry.