A HOST of new initiatives designed to create jobs and boost the West Somerset economy will be coming on stream in the coming months after the first payment was made from a fund set up to offset the impact of work at the Hinkley Point C site.

The economic development funding is part of a wider £25 million windfall from prospective Hinkley C developer EDF Energy, secured as part of the site preparation work agreement.

On Wednesday, West Somerset Council agreed to release the first phase of funding - £64,470 - specifically for local businesses, including the food and drink and tourism sectors.

Councillors were told the cash had already drawn down additional funding promises from external organisations totalling £101,400, which would also help encourage local firms to sign up as potential Hinkley C suppliers and contractors.

Cllr Kate Kravis, the council's finance lead and chairman of the board responsible for overseeing the allocation of Hinkley C planning gain money, said it was vital local people grabbed the chances on offer.

"This is a once in a lifetime opportunity for the people of West Somerset," she said.

"We can't just let it go. We've got to take this and really make the most of it.

"I don't want to be sat here in 15 years' time, a power station has been built and we are asking what did we do?

"We need to tell people about this, we need to tell our electricians, plumbers etc that this is happening and they could benefit.

"I know before this was granted there was a lot of concern about the impact of Hinkley Point C on tourism.

"This is the first draw-down of money . . . we are getting on with the job of helping businesses in West Somerset."

She said the money was key to diverting extra funds to the places that needed it most.

The first cash allocation would be used to create a comprehensive database of local businesses to ensure future funds could be targeted effectively.

A business mentoring scheme would be set up to help local firms develop, while businesses in the food and drink sector would be helped to identify new market opportunities.

Specific support would also be available for the tourism and hospitality sectors, starting with an £80,000 pot made up of a combination of EDF cash, money from Exmoor National Park Authority and European funding.

The money will be particularly welcome at a time when the tourism sector generally is struggling and coincides with claims from county-wide tourism group Visit Somerset that visitors will stay away as a direct result of the impending badger cull.

The group's vice-chairman John Turner said people had contacted the organisation to say they would be boycotting the county because they object to the cull.

"We have to take these comments very seriously and report it to the higher authorities in regards to potential economic impact," Mr Turner said.

Corinne Matthews, the council's economic development officer, told councillors on Wednesday that tourism was worth £126 million to West Somerset in 2011.

She said a quarter of the district's working age population was involved in the tourism and hospitality sectors.

"Despite these headline figures, the tourism and hospitality sector is demonstrating a steep decline which is of considerable concern," she said.

"Support is required to help drive up quality of provision within this sector and to attract new entrants and retain young people as employees.

"There is also a proven need to upskill many of those business owners to become better acquainted with technology and modern marketing techniques."

Councillors were told the first phase of Hinkley funding would also see a raft of regeneration projects being launched, specifically focusing on the towns and villages most affected by the site preparation works - Stogursey, Williton, Watchet and Minehead.

Plans would include 'Shop Local' schemes and key marketing and customer service initiatives.

Ms Matthews said: "The local high streets of West Somerset are under threat, not only in our towns but in our larger villages, which have always traditionally served as local centres for the rural area and the wider hinterland.

"The aim of this project is to raise the profile of West Somerset's towns and villages as key service centres that can meet a whole range of everyday needs via independent providers.

"The towns that we intend to work with are those that will have the most capacity to provide services and activities for construction workers and their families, either because of their proximity to the site itself - Stogursey - or the Washford park and ride facility - Williton, Watchet and Minehead."

Cllr Kravis told councillors further requests for funding allocations would be forthcoming in future months.