UK Shared Prosperity Fund

This money comes from the UK Shared Prosperity Fund. This fund aims to build pride in place and increase life chances across the UK.  It is the replacement for the European Structural Fund and Investment Programme.

The UK Shared Prosperity Fund is a central part of the government’s Levelling Up agenda and a significant component of its support for places across the country. It was launched in April 2022.

We have been given £1 million from the fund, of which, the majority (£898k) of the funding needs to be spent by us in 2024/25.

How we decided to spend the money

Taking account of government criteria and guidelines, we reviewed our existing plans and strategies, together with data about the local area. We used this information to develop an investment plan.

We decided to invest the grant on local projects under the following themes:

Communities and place

• Public realm improvements - for example - wayfinding, cycling and pedestrian access opportunities
• Town centre events and promotions - including town centre management, events and support for town centre businesses
• Support for place and businesses during town centre regeneration

Heritage, culture and arts activities

• Health - addressing priority health needs (such as high blood pressure, childhood obesity and mental health) in areas of deprivation
• Local and neighbourhood support - smaller scale, more local neighbourhood-based projects

Supporting local business

• Sector support - including aerospace, digital and creative and incubator hubs

People and skills

• Apprenticeships, training and skills development

Projects for this year

We will receive most of our funding for projects between April 2024 and March 2025. We plan to run these projects:

• Events management support for our town centres markets and events
• Town centre art projects at our regeneration sites, including artwork displays and exhibitions
• Developing new arts, cultural, and heritage activity
• A heritage trail for Farnborough
• A new town square in Farnborough to create a new space for town centre events
• Developing a place brand for our towns to increase visits to our town centre and support local businesses
• Sensors to measure visits to our town centres so we can measure the impact of our work
• Grants for independent town centre businesses to improve their shop fronts
• Improvements to Aldershot town centre street furniture
• Christmas light switch-ons, Rushmoor Heritage Festival and Playfest events
• Support for North Camp businesses impacted by the Lynchford Road improvement scheme.
• Seed funding for a new community hub in Aldershot Park
• Mental health workshops and youth activities at the Aldershot Youth Cafe
• Seed funding for activities to reduce health inequalities in our area
• Mental health workshops and sport activities at the Farnborough Youth Club
• Support for local warm hubs
• Grant funding for small neighbourhood improvement projects
• Community engagement activities to support the regeneration of Farnborough town centre
• Encouraging businesses at Farnborough Airshow to open locations in our area
• Subsidised office space, advice, support, and mentoring for early-stage sustainable aviation businesses
• Mentoring and training for local digital and creative businesses
• Promoting careers in science, technology, engineering, arts, and maths
• Skills and employability training and information