This Fund will focus investment on the development of business infrastructure in key economic centres in rural areas, including the larger rural hub towns / market towns, industrial and commercial sites, and smaller rural towns and villages.
The key aim is to provide the infrastructure needed to enable businesses in rural areas to trade and grow, including premises for new micro enterprises, small firms needing move-on accommodation, and facilities for larger and growing businesses.
The types of activities and investments to be supported include:
Development of business workspace / accommodation for multiple end users. This could include refurbishment of existing buildings, bringing redundant buildings back into use, and new build developments.
Creation of rural enterprise hubs, providing shared managed workspace to accommodate multiple micro enterprises under the same roof.
Stimulating investment in tourism infrastructure (including attractions and associated quality accommodation and events facilities) where raising the quality of the offer will improve the economic performance of the rural economy by attracting additional, higher spending visitors from outside of the NE LEP area.
Grants will be available at an intervention rate of up to 40% and the call for applications are now open