Following the submission of a Town Investment Plan for Margate in December 2020, with an ambitious ask of £29m investment for the town. The Margate Town Deal was allocated up to £22.2m as part of the Chancellor’s Budget announcement in March 2021. Following the signed Heads of Terms business cases have been developed to be able to secure the funding.
This is a really exciting opportunity to drive long-term economic and productivity growth in Margate, particularly as we meet the challenges presented by Covid-19.
The funding will deliver the aspirations of the Town Investment Plan and help Margate prepare for the future with a focus on creating jobs, supporting town centres, boosting businesses and connecting people to where they live and work either through infrastructure or digital.
The Fund is a capital fund, which means it has to be used for tangible assets such as buildings or public space. Whilst the funding is being used to pay for buildings or developing assets, the Government wants to see the money being used to deliver outcomes such as more young people and adults having the skills they need to find work and / or more businesses starting up and staying in Margate.
Alongside the Town Deal for Margate, in October 2021, the Government announced that the Margate Digital project to create a specialist, industry focused training space on the High Street had been successful in its £6.3m bid to the Levelling Up Fund.
Thanet District Council, in partnership with the EKC Group and the Margate School aims to create 2,000 sq m of cutting-edge, industry-relevant training space which will focus on digital technology.
A package Levelling Up Fund bid worth £19.8m was also submitted and approved for Ramsgate. For more information, visit the Ramsgate Future Levelling Up Programme page
The diagram explains the organisations, groups and communities involved in the development of the Margate Town Deal. Four key groups are responsible for delivering the investment plan, explaining decision making, sharing information, and keeping the community informed:
The Board is responsible for producing and delivering the Town Investment Plan, including putting forward suitable projects which align with the objectives of the Towns Fund.
The Government’s Towns Fund Prospectus explains that all Town Deals need to have an Accountable Body which will be a council through which funding will flow. Thanet District Council is the Accountable Body for the Margate Town Deal.
Representatives from the Town Deal projects who will work with the Accountable Body, the Board and a team of consultants to develop business cases.
- Key Stakeholders
Groups and organisations who will contribute to the development of the projects in collaboration with project delivery partners.
There are number of ways in which local people, organisations and businesses can ask questions and share ideas to support and inform decision making:
Made up of 66 members of the public selected to reflect the demographic of the local population. The Panel meets on a regular basis to discuss and comment on key topics and themes.
Throughout the lifetime of the Town Deal, the Board and Accountable Body will have conversations with the community through methods including questionnaires, public exhibitions and meetings.
- Business Engagement
Engaging with local businesses to understand their ideas and questions about how we can work with them to deliver the Town Deal.
- Wider Stakeholders
Collaborating with wider stakeholders including statutory organisations and community groups to inform the Town Deal and its delivery.