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Boost for N Yorks businesses
10:32am Thursday 10th July 2014 in Business News
NORTH YORKSHIRE'S economy received a boost as the Government this week announced £8.3m of funding towards the transition of the Food and Research Environment Agency site at Sand Hutton to the National Agri Food Innovation Campus, with an expected 800 new jobs to be created at the site over forthcoming years.
The funding is part of the Local Growth Deal awarded to York, North Yorkshire and the East Riding, which Government said supports the area’s ambition to become a national and international centre for the science of food, agri-tech and bio-renewables.
In total, the deal secured more than £110m for the area, which is expected to unlock a further £100m of funding from the private sector and local partners. The overall £210.1m package of funding is expected to create over 3000 jobs and see 4000 homes built in the coming years.
A bid for £2.1m of funding towards a roundabout and infrastructure required for the relocation of Malton’s Livestock market and a new Agri Business Park, north of Eden Camp at Old Malton, will be resubmitted and the District Council is working with partners to ensure that the funding required for this 600-job project is found.
There was no allocation at this stage for improvements to the A64 although ministers said that the Local Enterprise Partnership and the Department for Transport were committed to working together on long-term strategic road network planning to support local economic growth.
“I am extremely pleased at the amount of funding awarded within our LEP area, which I believe illustrates the quality of the bids put forward” said Leader of Ryedale District Council, Councillor Linda Cowling. “The funding for the National Agri Food Innovation Campus is brilliant news for Ryedale, with many hundreds of well paid, skilled jobs being created in our District. We will continue to work with our partners to ensure the Agri Business Park, which will house Malton’s relocated livestock market, goes ahead in the near future and that improvements to the A64 are achieved.”