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DEFRA Commit £60million to the Promotion of Rural Economic Growth

DEFRA has just announced the details of its Rural Economy Grant which will provide grant funding of 40% towards the total cost of an investment in rural business that enables a significant transformation in the performance of farms, forestry, tourism, agri-food and micro-businesses in rural areas.

Applicants would need to demonstrate that as a result of the grant, their business will take a significant step forward in its performance, such as job creation, increased turnover, access to new markets etc.

Subject to satisfying certain criteria, grants are available from £25,000 upwards with no maximum grant specified although it is anticipated to be in the region of £1million. This grant scheme compliments the Farming and Forestry Improvements Scheme which provides small grant support (£2,500 – £25,000) to farming, horticulture and forestry businesses.

Applications for Rural Economy Grants from within the uplands (or rural growth network areas- which are yet to be identified) are to be prioritised for selection although the application process is competitive and those projects offering the greatest return on grant investment will be more likely to be successful.

Outline Applications are to be submitted by 30th April 2012 and these will then be assessed to see whether or not the project may be invited to proceed to a Full Application.

To discuss your project further, please contact your nearest GSC Grays office.

Richmond – Guy Goggrave -01748 829 210

Leyburn – Phil Scott-Priestley – 01969 600 120

Barnard Castle – Lucinda Clifford – 01833 637 000

Stokesley – Guy Goggrave – 01642 710 742

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