Plans for the conference centre were revealed last December and the funding boost means that work on the centre can start this autumn, with a projected opening date of sometime in 2019.
The £2.9m of funds is part of a cash boost of £40m from the Government's Coastal Communities scheme, aimed at benefiting coastal towns across the country, which was revealed earlier this month.
Coun Simon Blackburn, Leader of Blackpool Council, said: "[This] is another step forward in turning this conference centre in to a reality. Our bids to both the Coastal Communities Fund and the Growth Deal have been extremely strong and I am very glad that both of them have seen the positive impact that this will have on the town, creating more jobs and boosting our local economy. Major conferences in Blackpool bring thousands of delegates in the town centre, who in turn spend money in our local shops, restaurants and hotels, helping our businesses thrive and allowing them to take on new workers."
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