Two Fleetwood wards have been included in the Assisted Areas Scheme for the next six years.
Mount and Pharos Wards have been granted the status until 2020, allowing local businesses within the areas to bid for extra funding and tax breaks in order to create jobs, invest in new premises or machinery, as well as expand.
Fleetwood MP Eric Ollerenshaw has welcomed the announcement because it will provide opportunities to generate investment.
Eric, who fought for Fleetwood to be included in the scheme, said:
“This is further good news for our local area, and in particular for Pharos, Mount and Preesall.
“These wards getting Assisted Area Status means that we have a chance to generate investment in real growth in our local economy, expanding businesses and creating more jobs.
“With the number of investments already taking place in our area, the Coastal Communities Fund and the Rossall Sea Defences to name but two, our area is currently maintaining its share in economic growth. This announcement means that even more of our town will get the funding and support that we need to continue this trend for the long-term.”
The status allows small businesses and large enterprises in less economically advantaged locations to benefit from additional financial support under the EU.