New fund provides opportunities for key local growth in Torbay

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(Last Updated On: April 20, 2021)

Torbay Council is inviting bids for projects that can support the economic regeneration of Torbay through the Community Renewal Fund, which has been launched by the Government.

The new fund is aimed at inspiring communities to thrive and grow, and Torbay is able to seek approval for a maximum of £3m for projects that will finish by 31 March 2022.

The fund aims to support people and communities most in need across the UK, creating opportunities to trial new approaches and innovative ideas at a local level.

The fund has four national priority investment areas:

– Investment in skills
– Investment for local business
– Investment in communities and place
– Supporting people into employment

Organisations across Torbay, particularly voluntary and community sector organisations with innovative ideas that will deliver against the national priorities, and key local growth priorities are being urged to bid for the fund.

Key local growth priorities include:

– Embedding inclusive economy principles to tackle inequality, exclusion and poverty leading to a more sustainable economy
– Raising skills level across all age groups
– Bringing about greater resilience in the local economy

Anne-Marie Bond, Chief Executive of Torbay Council, said: “We strongly encourage businesses across the Torbay community to engage with this opportunity and put forward ideas. Interested applicants can read the guidance on our web pages and seek support and advice from TDA.”

The call for bids is now open, with the deadline being 5pm on 7 May 2021.

For more information and to find the documents needed to submit a bid, please visit Torbay Council’s Community Renewal Fund page at www.torbay.gov.uk/business/crf

We will consider all proposals received and those which most strongly meet the criteria will be submitted to Government, who will ultimately decide those which are successful.

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