Release Date: 19/10/2009

New funding agreed to combat the recession

Over £155,000 has been made available to help the local community through the recession, following a meeting of Richmond Council cabinet on Monday, 12 October.

The money will fund a range of initiatives, including;

  • Attracting businesses to the borough, which includes working with landlords and agents to address the barriers to filling empty shops.
  • Enhancing the Town Centres Opportunities Fund and working with town centre groups on local shopping schemes, events and other improvements.
  • Delivering support for unemployed professionals, following on from the success of the series of workshops in the Autumn.
  • Visitor research and investment in tourism marketing. The visitor economy is our biggest inward investment route (£292million spent in borough in 2007) and vital for local businesses.
  • Encouraging young adults through a young entrepreneurs competition.

Cllr Geoff Acton, Cabinet Member for Environment on Richmond Council, said:

“The recession has had a significant impact on the borough, with a rise in unemployment and increase in empty shops, among the main concerns.

“We have already done a lot of work to combat this, but the new funds will allow us to make the next step and remain competitive in the short term, while putting in strategies to help longer term recovery. Although the end of the recession is predicted, a return to growth does not mean the impacts are over, so it is important to have measures in place to deal with this.

“We are looking at introducing a range of initiatives to help young people and professionals in the job market, as well as re-invigorating our town centres, to name but a few. We will be working in close partnership with local organisations and community groups to ensure theses are delivered.”

The funding is provided through the Council’s Economic Development Fund was established in 2007, following investment from the government.

For Full details of the funding and proposed initiatives agreed at the Cabinet meeting.


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