REGENERATION bosses have set up a new £500,000 fund to help boost businesses across the Tendring district.

The Tendring Council scheme hopes to attract an extra £1.75million in private funding for local firms.

The project will target business in wards covered by the district’s Assisted Area Status.

Parts of Clacton, Brightlingsea, Harwich, Manningtree and some villages were given the special Government status last May due to high levels of unemployment, but are yet to see a windfall in Government or European grants.

Tendring Council hopes pumping in £500,000 of its own money will help bring in outside cash. It will also seek extra money from the South East Local Enterprise Partnership, which was set up by the Government to aid regeneration.

Giles Watling, Tendring’s councillor responsible for regeneration, said: “We are putting in £500,000, which we hope to get support investment in 15 to 25 new and existing businesses to achieve growth.

“We want to create or safeguard at least 70 full-time equivalent jobs – and bring in £1.75million of private investment.

“We are a district of small and medium businesses – we haven’t got big industry. It is very important we help and protect these businesses.

“So far, the Assisted Area Status has not led to any real action, but this could nowbe the start of it.”