Torbay Council, TDA and Torbay Together welcome the invitation for Torquay to develop proposals for a new multi-million pound Towns Fund announced by Government today.

Torquay is one of 100 places invited to develop innovative regeneration plans that will help to build a prosperous future for the town.

Steve Darling, Leader of Torbay Council, said: “It is great to see that our lobbying to Government has been recognised. We welcome the opportunity for Towns Fund support to help meet the needs for Torquay. The Council will work with partners to develop ambitious plans to transform Torquay’s economic growth prospects. This is another chance for us to bring in funding for investment and regeneration in Torbay creating opportunities that will benefit our community.”

The announcement follows the recent funding boost received by Paignton. Paignton is one of the towns across the UK to receive revenue funding of £150,000 from the Future High Streets Fund. Torbay Council and TDA will use the funding to produce business cases to attract capital funding to deliver projects in Paignton town centre.

Vince Flower, Chairman of TDA, said: “This announcement gives TDA the opportunity to further develop plans for economic regeneration in Torbay. More funding gives us the potential to accelerate the delivery of projects that will create better opportunities for the local community. With Torbay Council and partners, TDA will work urgently and closely with Government officials to understand the criteria for funding and put forward the strongest possible proposal.”

Torbay Together, a Torbay wide partnership that is made up of representatives from the private, public, voluntary and community sectors, has met with Government ministers and officials to highlight the needs of Torbay.

Jim Parker, Chairman of Torbay Together partnership, said: “The hard work of the partnership is showing signs of reward. Together, we have visited ministers and officials in London to share our vision and ambitions for Torbay. Our aim is to develop skills, growth and opportunity in Torbay and funding like the Towns Fund is very welcome as it will help us achieve this.”

The government will soon publish a prospectus to guide towns through the process and set eligibility criteria for funding.