CORNWALL is set to receive £5,567,556 in funding towards supporting rural businesses and creating jobs in order to grow the ‘rural economy’ as part of the Rural England Prosperity Fund.
The funding, which is part of £110 million in extra funding provided to local authorities across the country, is set to be aimed at supporting local businesses and community organisations and building on the UK Shared Prosperity Fund and Project Gigabit.
The funding is set to be provided to Councils between 2023 and 2025 to invest in farming, helping to boost rural tourism and improve community infrastructure projects.
The Government says the fund, a top-up of the UK shared prosperity fund will “improve community facilities and support arts and culture to grow local tourism. Agricultural businesses looking to expand their remit and rural businesses looking to launch or grow will also receive investment.”
The news was welcomed by Scott Mann, the Conservative MP for North Cornwall, who said: “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.
“That is why I welcome the Conservative Government’s investment of £5,567,556 into Cornwall as part of £110 million in extra funding for councils across the country to grow local tourism and support rural businesses looking to start-up or expand.
“This extra funding will help to support communities while unleashing the potential of areas by creating new jobs and boosting the rural economy.”
Therese Coffey, the Secretary of State for Environment, Food and Rural Affairs, added: “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.”