Ulverston is in the running to receive a multi-million pound government grant.
The South Cumbrian could receive as much as £3 million if stakeholders are successful in bidding for the grant which comes as part of a government initiative.
The money would come from the Borderlands Growth Deal, which allocated £394.5 million for five local authorities, including Cumbria County Council.
Mark Wilson, an Ulverston Town Councillor, has welcomed the potential funding boost for the town.
“The funds would be hugely beneficial to town infrastructure and help raise the standard of the physical environment,” he said.
Cllr Wilson also believes the funding would help to attract new businesses and more tourists to the town.
“We’re hoping the grant could be used for new jobs and businesses which would really help encourage more visitors to come to the town,” he said.
“We are planning on developing a place plan which will allocate where all the money is going.”
And he is also hoping to divert any funding secured into tackling high levels of deprivation in some parts of the town.
“We would allocate an amount of the money to help areas of deprivation in the town too.
“It will be spread out among a number of different things,” he added.
Ulverston’s bid for Borderlands Growth Deal funding was confirmed by a spokesman from Cumbria County Council.
“We’re keen to see towns across the region benefit from the growth deal, he said, adding: “There are no guarantees that any bids will be agreed. It is still in the early stages."
Near neighbour Dalton has also pitched in for Borderlands money.
The bids from the two towns appears to quash concerns among some business leaders and politicians who have previously questioned claims that the Borderlands Growth Deal would benefit the whole of the county – in particular the south.
The Borderlands Partnership includes Carlisle City Council, Cumbria County Council, Dumfries and Galloway Council, Northumberland County Council and Scottish Borders Council.
Last year the authorities signed the heads of terms, securing £265m from UK Government, £85m from the Scottish Government, and a further £44.5m from the local authorities involved.
The deal is set to deliver 5,500 job opportunities, attract more than four million extra tourists to the area, improve mobile and digital connections and unlock investment in towns, generating £1.1billion to the Borderlands economy.
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