Growth Programme launched to improve rural economy

Applications for funding can be submitted from today.

Farming Minister George Eustice has today launched an initiative to improve growth in the countryside.

The new Growth Programme, which will unlock the potential for growth in rural communities.

Seen as a way to ensure rural entrepreneurs benefit, the Growth Programme will provide £24M of funding throughout the summer.

Today is significant because it marks the opening of funding applications, which could give construction companies a boost as well as businesses because the money will support projects that are crucial to the rural economy.

Applicants for this competitive scheme will be successful based on a range of criteria such as local priorities and those who address these.

The £24M is part of a six-year package of initiatives, with the target of unlocking the economic potential of the rural areas throughout the UK.

Overall, the scheme is worth more than £450M over the next six years.

Farming Minister George Eustice, outlined the need for the Growth Programme.

He said: “By helping our rural entrepreneurs to achieve their full potential, the roll out of the Growth Programme is great news for our rural communities.

“This £6.3M of funding is going to support businesses, bring high quality jobs to rural areas, boost rural productivity and grow the local economy.”

The Growth Programme is set to be of huge benefit to those looking to set up new businesses or expand existing ones, as well as helping companies to develop new food processing facilities.

All of this will be useful to the construction industry, with businesses set to grow and extra work needed in these areas for the next six years.

This is only one part of the plans in place to boost rural communities and the rural economy.

Over the next six years, there will be a Rural Development Programme which is expected to see investment to the tune of £3.5Bn into rural economies by 2020.

 

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