THE Devizes Development Partnership is celebrating after receiving a cheque for £5,000 the first instalment of £75,000 pledged for the town's regeneration under the Government's Market and Coastal Towns Initiative .

The cost of staging the Christmas market, part of this year's medieval fair that accompanied the festive lights switch-on last week, was subsidised by funding from the scheme, which is administered by the South West Regional Development Agency.

Devizes has been chosen as one of just two towns in Wiltshire to be pilots for the scheme, which aims to re-invigorate parts of Britain where traditional industry has disappeared.

The partnership involves representatives of businesses and voluntary groups working closely with the town and district council on the regeneration of the community area.

As much as £1 million could be available for regeneration projects over the next five years.

This money is earmarked for more 'quick win' projects, including new gateway signs for the town, currently being designed by Urchfont-based architect Mark Ellerby.

Alex Duffey, chairman of the DDP, said: "This is the beginning of a very exciting period for Devizes.

"With the funding from the RDA we can achieve a lot for the town and attract more and more people to shop here. We hope that local people will join the DDP there is no membership fee to have their say in how this money is spent."