Property cash scheme (From Gazette & Herald)

Property cash scheme

A NEW scheme has been set up by North Yorkshire County Council to help businesses in the county's European Union regional aid areas.

Councillor John Fort, the authority's executive member for community services, said the innovative property grants scheme aimed to develop new opportunities for businesses, encourager small-scale inward investment, help new and existing companies to develop property for high quality workspace units, create new jobs, and encourage growth in the county.

The scheme is being funded to the tune of £2 million by the EU and Yorkshire Forward, the regional development agency.

Coun Fort said: "The grants scheme is helping a wide variety of businesses to develop high quality workspace in areas where there is a demand. It enables them to diversify from their core business into other areas, which will have a positive effect on the local economy as well as benefiting the individual business."

Johanna Tuck, head of Yorkshire Forward's North Yorkshire operation, said: "We are committed to the development of enterprise in rural areas. The property grants scheme is a key element of our support for our businesses and we are delighted that the first four grants have now been awarded."

The companies which have benefited already are D P Developments of Melsonby. which has been given a grant to convert two redundant farm buildings to 14 workshop units, and D M Electronics of Leyburn Business Park, which is to build a workspace unit on its existing site.

Updated: 11:48 Wednesday, March 22, 2006