North Yorkshire is set to benefit from £5,417,114 in funding from the Government, as part of the Rural Prosperity Fund to support rural businesses and create jobs to grow the rural economy. £110 million in extra funding is being provided to local authorities across the country to help support local businesses and community organisations, building on the UK Shared Prosperity Fund and Project Gigabit. Local councils in England will receive the funding between 2023 and 2025 to invest in farming, helping to boost rural tourism and improve community infrastructure projects.
Agricultural businesses looking to expand their remit and rural businesses looking to launch or grow will also receive investment. The UK Shared Prosperity Fund gives local leaders more say over the spending of funds in their area than previous EU funding for rural areas and is delivering on the commitment to allow England to take back control of its own growth investment. The extra funding builds on the Conservative Government’s commitment to level up rural areas by delivering major upgrades to connectivity through Project Gigabit. The share of rural premises with access to gigabit capable connects has already increased by 11 per cent since January 2021 alone.
Rural areas hold unique opportunities for growth and with the right investment and support we can harness that potential to create jobs and help deliver on our priority to grow the economy. As a strong advocate for a fairer deal for the North, I welcome this funding as vital investment to support communities while unleashing the potential of our economy, creating new jobs and boosting the rural economy here in Thirsk and Malton.
Environment, Food, and Rural Affairs Secretary Therese Coffey said:
“Driving investment in rural areas is a vital part of our vision for levelling up the country. The new Rural Prosperity Fund replaces the bureaucratic EU funding system allowing us to work closely with local leaders to direct funding where it is most needed to close the rural productivity gap, create job opportunities and protect the English countryside.
“This confirmed spending will allow local authorities to deliver on their plans to level up businesses and communities in rural areas from today, in line with their residents’ priorities.”
