A GOVERNMENT regeneration agency has pledged to further boost the rural economy, following a year which has seen the largest ever investment in North Yorkshire.

Yorkshire Forward has published its second annual report, detailing its achievements during the past year in reviving the region's economic fortunes.

The report names the awarding of nearly £3m to regeneration projects in Ripon as one of the organisation's key achievements. The cash is being used to help offset the devastating loss of the city's university campus.

It also highlights the setting up of the Market Towns Initiative, together with the Countryside Agency, which is aiming to bring a much-needed boost to the flood-hit twin towns of Malton and Norton.

Yorkshire Forward's environment directorate said the farming community received nearly £900,000 during the past year to help convert redundant buildings for modern business purposes. A prime example is said to be the conversion of Aske Stables, near Richmond, where eight new offices and 66 full-time jobs were created.

In his foreword, Yorkshire Forward chairman Graham Hall said: "The region's economic performance is increasing and we are moving up the English and European league tables, but we cannot be complacent and need to accelerate this growth.

"Yorkshire Forward has recorded a number of successes over the past year. However, huge challenges lie ahead, not least in ensuring that we kick-start our business birth rate in the region by creating a climate and support structure geared to entrepreneurs.