Companies can be given government hand-outs to improve the appearance of their premises under a new scheme.

The Department of Enterprise’s new town and village regeneration scheme is now up and running.

The scheme aims to provide financial assistance to commercial premises and civic amenity projects which will improve the appearance and vitality of the island’s towns and villages.

The theory is that ultimately that will increase footfall and stimulate economic activity.

The scheme was first launched in 2009, with a revision in 2013.

A total of £15.7 million was offered to 223 distinct regeneration projects, with £13.4 million invested.

The government says the scheme contributed towards ’significant’ improvements to the island’s retail centres, such as Strand Street in Douglas and Parliament Street in Ramsey.

In the February 2019 budget, Treasury allocated funding of £250,000 a year for a new regeneration scheme which will run for four years.

The scheme supports businesses, charities, sole traders and others looking to improve the external appearance of their business premises and also provides support to local authorities and trade associations seeking to improve the environment within local towns and villages.

A grant of up to 50%, which is now capped at £10,000 per project, is available to organisations meeting the eligibility criteria.

It no longer supports major town centre infrastructure projects. These will be completed as capital projects by the Department of Infrastructure.

Minister for Enterprise, Laurence Skelly MHK, said: ’I would like to thank Tynwald members and local authorities, representatives from Manx National Heritage, and other volunteers from around the island who contributed to the success of the regeneration committees as part of the old scheme for a number of years.

beneficiaries

’Douglas and Ramsey were clearly major beneficiaries of this scheme, and as a result there has been significant revitalisation of their retail areas and increased private investment.

’The town and village regeneration scheme 2019 is the first step in a series of future initiatives to build on the success of the 2013 scheme and continue to drive economic activity, create jobs and bring other benefits to local communities across the island.

’During the review period, inquiries in relation to the town and village regeneration scheme remained open. It is clear there is demand for the new scheme and the Department for Enterprise has been working closely with a strong pipeline of potential applicants over the last few months.’

Organisations interested in applying for the scheme are should contact the enterprise support team via email [email protected] or telephone 687333.

More information on the scheme is available online at www.dfe.im/tvrs where a factsheet, application form and scheme guidelines are also available to download.