Chance for rural firms to share £5m fund to grow local economy

RURAL BUSINESSES with expansion plans for 2018 could benefit from a share of more than £5m designed to help grow the economy in and around West Yorkshire.

The funding is available in business development, food processing and rural tourism infrastructure to encourage businesses in the Leeds City Region to grow and diversify.

The money is being made available from the European Agricultural Fund for Rural Development.

The fund is administered by the Rural Payments Agency in partnership with the Leeds City Region Enterprise Partnership.

Investments which could be supported include those which encourage tourists to come, to stay longer and to spend more money in rural areas, as well as help for businesses looking to grow or diversify, including farmers wanting to move into non-agricultural activity.

Companies in the food processing sector may also qualify for support to invest in new equipment or new buildings.

Grants are available to pay for, on average, 40 per cent of the cost of any project with applicants expected to fund the remaining 60 per cent. The minimum size of a grant is £35,000.

Roger Marsh, Leeds City Region Enterprise Partnership chair, said: “At this time of year many business leaders take the opportunity to review their ambitions for the next 12 months and we are looking forward to receiving applications for exciting projects which deliver growth and jobs.”

People wanting to apply for the funding are urged to call the Defra Rural Services helpline on 03000 200 301, or email GPEnquries@rpa.gsi.gov.uk.