Rural communities in the local area will receive funding boosts after North Northamptonshire Council received confirmation of £1,161,812 from central Government’s Rural England Prosperity Fund.
NNC’s funding allocation will be used to launch a capital business grant scheme and a capital grant scheme for rural areas of North Northamptonshire. The funding runs to March 2025. Central Government has identified areas of North Northamptonshire which are classed as ‘rural’ with all areas apart from the larger towns of Corby, Desborough, Kettering, Higham Ferrers, Rushden and Wellingborough eligible for funding.
The Rural England Prosperity Fund is a top-up to the UK Shared Prosperity Fund, of which North Northamptonshire has secured £4.8 million and has two key objectives – ‘supporting local business’ and ‘community and place’.
The Rural Fund provides capital funding to:
- support new and existing rural businesses to develop new products and facilities that will be of wider benefit to the local economy. This includes farm businesses looking to diversify income streams
- support new and improved community infrastructure, providing essential community services and assets for local people and businesses to benefit the local economy
Cllr David Howes, the council’s Executive Member for Rural Communities and Localism, said: “I am delighted we have been successful in our bid for over £1.1 million of funding for the more rural areas of North Northamptonshire. Rural areas often face specific challenges and the funds we have received, on behalf of the residents and businesses in the area, will help to level up communities and support rural businesses to grow.”
Cllr David Brackenbury, the council’s Executive Member for Growth and Regeneration, said: “Following our allocation of Shared Prosperity Funding, this is great news and will further help businesses and communities across North Northamptonshire. Work can now start on a range of projects, including new grant schemes which will make a real difference to North Northamptonshire and boost growth.”
Cllr Jason Smithers, Leader of the Council, said: “As with our main Shared Prosperity Funding, we are working closely with key stakeholders to ensure this allocation reaches those most in need, and those with great ideas to support the local economy. I would encourage businesses and residents to keep an eye out for more information about the grant schemes.”
