A PICTURESQUE corner of the region is staking its claim for a share of more than £50m in European regeneration funding.

Pickering Area Partnership has been set up to examine ways of boosting the economy of the town and neighbouring parishes in Ryedale, North Yorkshire.

The group is the first in the district to complete a community investment prospectus (CIP), which sets out the way forward for the future.

Community leaders are hoping to show why investors should choose the Pickering area and what benefits it would provide them with.

Bob Clement, chairman of the partnership, said: "The prospectus forms the basis of specifying not only the whole infrastructure of Pickering and the surrounding parishes, but it also defines what needs to be done and that is the important bit.

"One of the most vital parts within the CIP is economic development, with the aim of creating jobs."

Mr Clement said the group would focus heavily on obtaining European funding recently made available for rural areas.

He said: "The figure we are talking about is £54m across North Yorkshire, available over a six-year period through objective two funding from the European Union. But we have got to have the right projects before we can attract the funds to bring this about."