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Mr Kerfoot was made a Commander of the Order of the British Empire for his services to rural businesses and the voluntary and community sectors in North Yorkshire.
He attended the ceremony with his wife Elizabeth.
Their daughters Jennifer, Eleanor and son Thomas accompanied him on the trip to Buckingham Palace.
“It was a tremendous occasion and wonderful to share it with my family,” said Mr Kerfoot, of Northallerton “But I would like to say that the honour is a reflection of the wide-ranging enterprising and dynamic
activities of all North Yorkshire’s communities.
“And as we move towards a new form of local government, the county has opportunities for even more partnerships and collaborations that fly the flag for North Yorkshire.”
Leeds-born Mr Kerfoot is Deputy Lieutenant of North Yorkshire and former chairman of the York and North Yorkshire Local Enterprise Partnership.
Among other key roles, he is chairman of the £20.2m Scarborough Town Deal, part of the government’s levelling up schemes.
He is a keen supporter of the foodbank Hambleton Foodshare Northallerton Pendragon Community Trust which runs a multi-sensory centre for special needs and the Samaritans.
He is patron of Clean Slate Solutions, which helps people across Teesside and North Yorkshire with past convictions into paid employment.
In 1980 Mr Kerfoot and his wife established a company that processed oils for the food and cosmetic industries, growing to a turnover of £90 million and which was sold to a large French co-operative in
The company had its head office in Northallerton and operated from three production sites across the North and East Riding.
Mr Kerfoot has called on the people of North Yorkshire to submit more nominations for national honours.
He said: “There is a huge number of people across all communities and sectors who deserve wider recognition for their efforts and I think it would be fantastic for the county if we saw more
individuals put forward.”