Our Investment Plan

As part of the UK Government’s Levelling Up agenda, Torbay has been allocated £1.76 million to spend on local investment through the UK Shared Prosperity Fund. We’re using our portion to support local businesses, boost opportunities for local people and create spaces for communities to enjoy. With this funding, we’re working hard to increase people’s life chances and create a Torbay where people are proud to live, work and visit.

On behalf of Torbay Council, TDA is managing Torbay’s UK Shared Prosperity Fund Investment Plan, overseeing procurement, allocating funding and managing the contracts to those organisations delivering the projects.

We’ve aligned our Investment Plan to Torbay’s Economic Growth Strategy 2022-30, ensuring that economic growth is prioritised and achieved in a sustainable way that protects our naturally inspiring bay. Alongside this, we’re helping local people to improve their numeracy skills through the government’s Multiply Programme which offers free maths courses to people from across Torbay. Read more about the Government’s plan for UK Shared Prosperity Fund>

Our three Investment Priorities

Community & Place

We want people to have pride in Torbay; to love where they live and engage with their local area. We’re investing in initiatives that strengthen communities and provide engagement opportunities so that everyone in Torbay can lead long and healthy lives.

Support for local businesses

We want local businesses to thrive, innovate and grow. We’re investing in initiatives which create jobs, boost investment to the Torbay area and strengthen the local economy so that everyone benefits.

People & Skills

We want everyone to have access to career and education opportunities. We’re investing in initiatives that give skills and training to local people, helping them to realise their ambitions and contributing to local growth.

Funding Opportunities

As the People and Skills element of UK Shared Prosperity Fund begins to take shape, we are inviting stakeholders and potential providers to get involved in the process. We will be hosting market engagement events, beginning with our first on Thursday 6th July from 2:00 to 3:30 pm, this will be held virtually, via Microsoft Teams. This will give you the opportunity to provide feedback and help us shape the interventions and design services around the needs of the Torbay community.

To register your attendance to our virtual event please express your interest as soon as possible, via ProContract, or email procurement.team@torbay.gov.uk quoting ‘Market Engagement: Torbay UK Shared Prosperity Fund – People and Skills Theme 2024 to 2025″

The UK Shared Prosperity Fund is a central pillar of the UK government’s Levelling Up agenda and provides £2.6 billion of funding for local investment by March 2025. The Fund aims to improve pride in place and increase life chances across the UK investing in communities and place, supporting local business, and people and skills. Find out more here>