It was hailed as a "weekend to remember" as tens of thousands of people descended on Lowestoft earlier this year.
Britain's only non-stop beach festival - First Light 2022 - returned in June with the latest figures showing that up to 35,000 people attended this year - more than the inaugural event in 2019.
With organisers First Light Festival CIC and East Suffolk Council "working to deliver an even more impressive and impactful event in 2023," there was a major boost this week.
East Suffolk demonstrated its commitment to the First Light Festival by pledging continued financial support to the annual event.
At a meeting of the council's cabinet on Tuesday, councillors unanimously backed plans to help support festival organisers in securing Arts Council funding over the next three years.
With the return of the free event showcasing Lowestoft as a vibrant and diverse cultural centre, according to the latest figures, in 2019 East Suffolk Council’s investment of £90,000 resulted in a £900,000 return on investment in terms of direct local financial benefit.
The £200,000 invested for 2022 delivered approximately £690,000 of visitor spend - with the overall direct local financial anticipated to be significantly larger.
A council spokesman said: "East Suffolk Council has now promised to provide First Light Festival with £500,000 of funding to support the community interest company's National Portfolio Organisation application to the Arts Council.
"If successful in its application, First Light Festival will receive £660,000 from the Arts Council, which, along with funding from East Suffolk Council and other sources, will help secure its future for the next three years."
Craig Rivett, East Suffolk Council's deputy leader and cabinet member with responsibility for economic development, said: "This is an unequivocal commitment to the long-term cultural development of Lowestoft.
"It will help First Light Festival to grow as a nationally recognised event and strengthen its positive engagement with local residents, schools and business.
"We want cultural regeneration to be at the heart of our ambitious plans and ongoing investment in the economic growth of the town."
The council said that funding will be drawn from the New Homes Bonus Reserve and provided on a sliding scale over the three years – with £180,000 for 2023/24, £170,000 for 2024/25 and £150,000 for 2025/26 – as the community interest company generates additional income through both the festival and as operators of the regenerated East Point Pavilion.
This year's festival also helped to create six jobs, involved 297 arts professionals, 29 arts organisations and 12 voluntary organisations, and attracted £210,106 of external investment.
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