The county has been awarded £13.2 million from the Government’s Local Growth Fund (LGF) following a successful bid by the South East Local Enterprise Partnership (SELEP).
East Sussex County Council will receive £8.2 million for the East Sussex Strategic Growth Project to create new employment developments in areas including Bexhill and Eastbourne.
The funding is expected to result in an additional £13 million of private sector investment and will create around 35,000 sq m of new business floor space for firms looking to relocate.
Meanwhile, £5 million of LGF cash has been granted towards a £44 million redevelopment of the Devonshire Park area, including a new conference complex.
Cllr Keith Glazier, East Sussex County Council leader, said: “This is fantastic news for the county and will allow us to generate a significant number of new jobs and provide a welcome boost to our economy.
“The funding will allow us to provide bespoke, state-of-the-art, new employment space in key growth areas, allowing us to meet the ambitions of companies looking to expand or relocate.”
The scheme will include new developments at Sovereign Harbour Business Park, in Eastbourne, and North East Bexhill Innovation Park.
The funding brings the total of LGF funding for East Sussex to over £70 million since SELEP – formed of six south east authorities – was set up in 2011.
Graham Peters, SELEP Vice Chairman for East Sussex, said: “This investment enables us to drive forward our shared growth agenda, delivering economic growth and regenerating and revitalising communities, creating new jobs, facilitating housing, improving connectivity and boosting skills.
“The additional funding that will be leveraged into the South East as a result of these investments is testament to the continued success of our area.”
Projects previously awarded LGF funding include schemes to improve cycling and walking infrastructure in Bexhill and Hastings, Eastbourne, Newhaven and south Wealden.
Other projects funded have included the North Bexhill Access Road, flood improvement work in Newhaven and a new access road for the Swallow Business Park, near Hailsham.