The Rural Prosperity Fund
- 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 the government has announced £110 million in extra funding for councils across the country, which will improve community facilities and support arts and culture, while supporting local businesses and rural economies to grow.
- This will allow local authorities to deliver on their plans to level up communities in rural areas, while supporting businesses and local jobs.
Environment Secretary Thérèse Coffey said:
"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."
Country Land and Business President Mark Tufnell said:
“The rural economy is 19% less productive than the national average, but reducing this gap could add up to £43 billion to the economy. This funding is an important step in unlocking the vast potential of rural businesses, and will give startups as well as existing enterprises the support they need to grow.
We strongly encourage Local Authorities to work closely with rural entrepreneurs to maximise the opportunities the Rural England Prosperity Fund presents, identifying every possible opportunity to generate economic growth – creating good jobs and strengthening our communities in the process."
Across rural England, the money will be spent on two key areas:
Communities and place: projects to improve community facilities such as green spaces and boost access to arts and culture to grow local tourism economies.
Supporting local business: projects to support agricultural businesses looking to expand their remit, and rural businesses looking to launch or grow their products and services.