external forces

5 external forces in torquay

government Stronger Towns fund and funding from network rail, EU funding, UNESCO, Government schemes Levelling up partnership, multinational corporations

one example of a multinational corporation

Fragrance Group - Singapore based property and investment group - over £30 million invested in construction projects including the Palace Hotel, the park hotel and the lighthouse

how will the investment by Fragrance group help Torquay

boost tourism - tigger multiplier effect - less deprivation

UNESCO in Torquay

Torquay awarded global geopark status in 2007 by UNESCO - promotes geographical heritage and importance of the area

how does UNESCO help torquay

boost tourism - increased income to improve environmental quality and preserve cultural heritage.

how much does tourism generate for Torquay’s economy and how many people does it employ

£400 million and employs 12,000 local people

government levelling up partnership scheme

£500,000 to turn vacant buildings into cultural and creative spaces to give opportunities to and showcase local talent

£500,000 for improvements to community and youth provisions in most deprived areas

£3.25 million to convert disused holiday accommodation into permanent homes for residents

crime rate in torquay

25% higher than the South West average

how will investment into youth provisions help community safety

encourage people away from crime and provide a safer more enjoyable living environment

how much EU funding did South West receive

over £116 million

what was EU funding used for

improve transport, broadband connectivity, skills and culture

aim of EU funding

bring people into the area, articular younger people too help reduce the ageing population. reduce social and economic inequality by getting more people with differing skill set levels into work - could decrease deprivation

what is the government stronger towns fund

A UK government initiative aimed at boosting local economies and supporting community projects in towns and cities.

how much money was Torquay given from the government stronger towns fund

£21 million to drive economic regeneration

projects from the government stronger towns fund and funding from network rail

investment into Torquay harbour with improvements to paving, seating and lighting

mixed use regeneration in town centre

New Railway station in Edginswell - called the Torquay Gateway

improvements to health infrastructure

how will the new station in Edginswell help

improve efficient accessibility to the town centre and encourage investment of companies into the area triggering the multiplier effect

improve transport for local people, cut down commuting times and increase employment opportunities

how will mixed use regeneration in the town centre help

improve environmental quality by creating vibrant, multifunctional spaces that attract businesses and residents, enhancing community engagement and economic sustainability. Improve the experience for people living, working and visiting the area

how might improve environmental quality be detrimental

increased land and property value leading to gentrification and outpricing of small businesses. However the declining town centre has led to many small businesses struggling