A European Union backed funding package of £1.32 million has been secured to help farmers in and around Peterborough.
The cash will be allocated to projects that develop the economies of the rural Peterborough and Rutland areas.
It will drive growth into our rural businesses.Steve Bowyer
The deal has been secured by city regeneration company Opportunity Peterborough and Rutland County Council through the LEADER project to improve the competitiveness of farming and forestry.
Steve Bowyer, acting chief executive of OP, said: “We are delighted by this success.
He added: “It will drive growth into our rural businesses and communities and support emerging companies to develop their ideas.”
The scheme is jointly funded by the European Agricultural Fund for Rural Development (EAFRD) and the Department for Environment, Food and Rural Affairs (Defra).
Councillor Terry King, Portfolio Holder for Development at Rutland County Council, said: “The rural economy is hugely important to Rutland and this funding is great news for small businesses – especially those that want to grow and become more competitive but have previously been unable to invest in development.”
More information about how to apply for funding will be available soon and we are particularly interested to hear about initiatives that would boost tourism, increase farm productivity, provide rural services or add to culture and heritage activities.”