North Devon Council has successfully secured a grant of over one million pounds from the central government to support local businesses and create jobs to boost the rural economy. The Shared Prosperity Fund, from the Department for Levelling Up, Housing and Communities, has granted the council £1,214,999, which will be used over the next two financial years for interventions in three fund themes: ‘Communities & Place’, ‘Supporting Local Business’, and ‘People and Skills’.
Apart from the Shared Prosperity Fund, the council also submitted an addendum to the Rural England Prosperity funding fund, a ‘rural fund’ from the Department for Environment, Food and Rural Affairs announced last autumn. The council requested a grant of £1,091,259, and on April 6, 2023, it was announced that the council had been successful in its bid and awarded the total amount of this additional funding.
With these funds, the council plans to work with its partners, North Devon+, to set up and deliver a rural grant scheme similar to the former LEADER funding programme. In addition, the council will launch a new business support programme, design and develop business programmes to encourage networking, mentoring and investments, deliver town centre enhancement schemes and small-scale regeneration projects, and support increased volunteering and help people towards work.
Director of Resources and Deputy Chief Executive at North Devon Council, Jon Triggs, expressed his excitement for the funding, stating that it will allow the council to deliver on its plans to support businesses and communities in the rural areas. Specifically, the additional funding from the central government will be used to deliver projects in Ilfracombe to support the regeneration of the seafront and increased activity around the new watersports centre.
Overall, this funding significantly boosts the local economy in North Devon, supporting businesses and communities in the rural areas and creating new jobs in the process.
