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Fri 3 February 2023
The Rural England Prosperity Fund is £110 million which has been allocated by the government to provide capital grant to support specific rural areas such as farms and rural businesses which are considering diversifying income streams. This is a top-up from the UK shared prosperity fund.
The fund is provided jointly by The Department for Environment, Food and Rural Affairs, and The Department for Levelling Up, Housing and Communities. It is the replace the former EU schemes and allows local authorities to have more of a say to how it is invested within the local area.
The funding will be assigned to the eligible local authorities for distribution between April 2023 and April 2025. The local authorities will determine the local investment priorities.
The Rural Fund provides capital grant funding to invest in projects which will create job opportunities and boost productivity within the rural area. This includes farm diversification, restoring local assets and provision for essential community services to enhance the local economy. Additionally, the capital grant will support the establishment of new footpaths and bikeways projects.
The allocated funding for the local area is:
· Shropshire = £2,589,503
· Herefordshire = £1,705,669
· Forest of Dean £614,444
· Malvern Hills £500,624
· North Warwickshire £495,639
· South Staffordshire £489,391
· Stratford-on-Avon £1,015,179
· Stafford £487,936
· Wychavon £819,286
We have specialist advisors which can help with all grant needs and discuss matters further. If you have any projects which you would like to discuss further, please contact your local McCartney’s office.