Lowestoft to receive millions of pounds of investment

Lots of people enjoying Lowestoft seafront in the sunshine. Picture: Danielle Booden

Lowestoft will receive over £100m investment towards projects over the next four years as part of East Suffolk Council's budget for the district - Credit: Danielle Booden

Lowestoft is to receive over £100m in investment as part of a series of projects across the region.

Flood defences and business units for start-ups are among the projects that will receive funding from East Suffolk Council after plans were approved on Wednesday, January 26.

The projects will be delivered over the next four years and are part of East Suffolk Council's £339m budget for projects that aim to benefit local communities and businesses.

The council say the budget will maximise resources through securing external funding while also making "efficient use of existing council assets".

East Suffolk Council is working to help those in need during this crisis

Flood defences and new business units are among the projects that will receive funding from East Suffolk Council - Credit: East Suffolk Council

Maurice Cook, East Suffolk’s cabinet member for Resources, said: “I am very pleased to be able to present such a comprehensive capital programme, investing in all areas of our district.

“The council tax payer is at the heart of all financial decisions, and so many of the projects not only provide new or improved facilities, but also develop more assets and income streams for the council in order that the reliance on council tax for providing vital services can be minimised.”

Within the programme, over £118m has been allocated for planning and coastal managements over the next four years, with a further £36.86m for economic development and regeneration schemes. 

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An investment of £96m will be awarded for the construction of permanent flood defences to protect homes and businesses in the coastal town.

Start-up units for local businesses will be created through a £6.4m investment.

Projects already allocated funding from this year's budget include the replacement of beach huts on Lowestoft's seafront.

Elsewhere in the region, £50m will go towards the Felixstowe North Garden Neighbourhood Regeneration Project, including £44m to provide a new leisure centre and associated infrastructure.

In Southwold, £14.2m will be used for the enhancement of Southwold Harbour and Caravan Park.

Thorpeness will also see investment into flood defences, and is expected to receive nearly £4m towards this.

On Tuesday, hospitality, accommodation and leisure  businesses in East Suffolk were also given a "lifeline" after it was announced that one-off grants of up to £6,000 would be made available to businesses impacted by the Omicron variant of Covid-19.