Almost £4.5m is set to be unlocked to help boost the fortunes of one of the country’s most deprived areas.

However, the project for a covered market and affordable business space in Jaywick Sands will mean funds being diverted away from Harlow and Clacton.

Essex County Council is now set to agree to a reduction of £300,000 from the 2022/23 Capital Programme for the Clacton Future High Streets Fund project and a reduction of £1.68m from the 2023/24 Capital programme for Harlow Town regeneration.

That £1.98m is being spent on the Jaywick Sands project to build and operate a covered market and affordable business space to support the local economy, grow local entrepreneurship, and grow and retain economic activity and job creation in the local area.

The proposal is to construct 13 affordable rent business units and a covered local market of 10 affordable pitches on the site formerly home to the Sunspot arcade. The designs received planning consent last year.

Alongside this, the public realm in the area will be improved including the creation of a new community garden and a multipurpose hard landscaped area which can be used for outdoor markets and seasonal events.

A statement as part of a Essex County Council decision in front of Councillor Whitbread, Cabinet Member for Finance, Resources and Corporate Affairs, said: “This will form part of a programme of wider regeneration and will deliver an extensive range of positive social impacts to help alleviate the severe deprivation experienced by much of the Jaywick Sands community including increased employment opportunities, increased training opportunities, a rise in skills and employability, pride in the area, a rise in aspiration especially amongst younger people and significantly improved health benefits through affordable access to fresh foods.”

The cost of the Jaywick Sands Market and Commercial Market Space, which has increased from £2.127m to £4.407m, is being funded by £405,000 from Tendring District Council, £2.03m (including the £50k that was previously provided) from Essex County Council and £1.972m from the Getting Building Fund – a Government fund to deliver jobs, skills and infrastructure across the country.

Essex County Council says there is no capital funding requirements for the Clacton Future High Streets Fund or Harlow Town Regeneration as projects previously earmarked in the towns no longer need this funding.