Environment Minister Alex Attwood confirmed the news and urged all relevant projects to apply.
In 2012, a total of £425k was allocated to two community groups via The Coastal Communities Fund for Northern Ireland.
The fund aims to boost the economic development of NI's coastal communities through various projects. This includes those that support charities, the environment, education and health.
Last year, the Learning To Grow project was one of the recipients.
Based on the shores of Larne Lough, the organisation used it's grant of £158,465 to set up Northern Ireland's first social enterprise water-bottling facility, The Water Wheel.
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Seven new jobs were created by the project, which extracts and bottles water from a local well. It also uses recycled material for labels, recycled biodegradable bottles and a green energy supply as part of their carbon neutral processes.
The other recipient, the Glenarm Buildings Preservation Trust, received a grant of £265,000 to regenerate a 124-year old former school and restore it as a visitor attraction and tourist activity centre.
Minister Attwood said that developing and protecting the region's built and natural environment would help develop the region's tourism from a £500m to a £1bn a year industry.
He added: "This fund will boost tourism by enhancing communities along our coast. The five Good Beach Summits that I have held bring together key community groups and local councils to look at issues such as water quality and beach cleanliness which are all key to supporting our coastal economy.
"This plus over £1million in funding that I have already announced to tackle dereliction in towns and cities across the North all protect this heritage and deepen the green and clean credentials that makes here such a special place."
(JP)
