£500,000 Economic Recovery Fund approved
A £500,000 Economic Recovery Fund is being created to support the rebuilding of the district's economy from the impact of the coronavirus pandemic.
The money will support the delivery of actions in Malvern Hills District Council's Five Year Plan.
The money will be used to provide:
- A programme to support businesses to take on apprentices, graduates and other trainees
- An event development budget to support events that will generate footfall for the district's town centres
- A Town Centre Transformation Scheme which will include grants to help businesses improve shop fronts, support for businesses to trade online, marketing and branding activity and free parking after 3pm during April and May
- Funding to unlock gigabit local community fibre broadband schemes across the district
- Support for schemes to expand the district's low carbon economy
- A Sustainable Tourism Fund to include the creation of a sustainable tourism grant scheme
- More money for marketing of The Malverns to increase overnight stays and the amount of money spent by visitors
- A growth and innovation programme to support the growth plans of businesses, working with Worcestershire LEP
- Grants to help support the growth of rural businesses
The money is on top of almost £33million of business support grants issued since March 2020 and £70,000 spent on supporting the reopening of non-essential retail.
Phil Merrick, Director of Economy and Environment for Malvern Hills District Council, said: "The impact of the coronavirus pandemic will be felt on our economy for many years. At the same time businesses are facing challenges related to Brexit and changes in consumer habits with the growth of online shopping.
"Our Economic Recovery Fund will support the work we have been doing, and will continue to do, as we help businesses recover, grow and take advantage of new opportunities over the coming years."