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North Yorkshire Property Grant Scheme

European Funding is helping businesses in Objective 2 areas of the County to build for the future through a new and innovative Property Grants Scheme, managed by North Yorkshire County Council.

The aims of the Property Grants Scheme are to:

• Develop new opportunities for business

• Encourage small-scale inward investment and provide for new and existing companies to develop property for high quality workspace units

• Develop new jobs

• Encourage growth in the local community 

Funding for the North Yorkshire Property Grants Scheme, which totals over £2m, comes from the European Regional Development Fund and the Regional Development Agency, Yorkshire Forward.

Four companies have already benefited from the scheme, two of which are in the Richmond area. D.P. Developments Ltd, Melsonby has secured a grant to convert two redundant farm buildings into 14 work units. The development will incorporate environmental good practice, including a wind turbine and a heat pump.

The second company to benefit is D.M. Electronics Ltd at Leyburn Business Park who gained approval for a grant to build a workspace unit on their existing site, to rent out to another firm.

Councillor John Fort, the County Council’s executive member for economic development, said: “The Property Grants Scheme is helping a wide variety of businesses across the County to develop high quality workspace in areas where demand for such units is high. 

“This enables them to diversify from their core business into other areas, therefore having a positive effect on the local economy as well as benefiting the individual applicant'".

Alison Biddulph, Director of the European Secretariat at the Government office for Yorkshire and The Humber said:

"One of the key objectives of the Objective 2 ERDF programme is to help  smaller businesses in our region develop, diversify and create jobs. 
 
"I am delighted that the Property Grants Scheme is enabling imaginative developments  to take place in North Yorkshire, providing high quality modern workspace facilities, which are meeting a real need and benefiting local communities".

Johanna Tuck, Head of North Yorkshire for Yorkshire Forward said:

“Yorkshire Forward is committed to the development of enterprise in rural areas. The Property Grants Scheme is a key element of our support for businesses in Objective 2 areas, and we are delighted that the first four grants have been awarded.”