Pirate FM News

Keep up to date with the latest news delivered direct to your Inbox.

Cornwall's Billion Pound Plan

PirateFM news logo wide
Delicious Submit this page to reddit

5:11pm 3rd April 2014

The Cornwall and Isles of Scilly Local Enterprise Partnership (LEP) has published its Strategic Economic Plan which outlines how £1 billion could be invested in the local economy in the next seven years.

 

It aims to boost the economy of Cornwall and Isles of Scilly by £338 million per year, invest in providing more than 18,000 jobs, support the delivery of almost 14,000 new homes, bring skills up to at least national averages and exceed national renewable energy targets by 2020.

 

The plan, drawn up at the request of Government following wide consultation with business leaders and other groups, makes the case for a single investment programme with more decision making locally that pulls together funding streams from across the public and private sector.

 

It includes the next European funding programme, worth some £520 million to Cornwall and the Isles of Scilly by 2020, and includes a £71m bid over the next two years into the Government’s £2 billion Local Growth Fund. This aims to regenerate local economies and is a competitive process.

 

Other funding would come from existing national funds, local public funds and the private sector, adding up to at least £1 billion by 2020.

 

Chris Pomfret, chairman of the Cornwall and Isles of Scilly LEP, said: “This plan for a thriving and vibrant Cornwall and Isles of Scilly economy is both ambitious and achievable.

 

“It challenges the Government to share in our vision of the future and makes the case for greater local decision making through a single investment programme that covers all available funding sources.

 

“We have identified the opportunities and strengths that can help us create our future economy today. The next EU programme is a cornerstone of our plan and we have shown how we can make that money go even further with some targeted investment from complementary funding pots like the Local Growth Fund.

 

“With that added support we can prepare the foundations for successful EU investments that will lift our economy and achieve the transformation away from today’s low wages, low productivity and low skills, towards a future economy where we are next generation pioneers.”

 

Among the projects that have been submitted for Local Growth Fund support are:

 

  • Public transport improvements across the rail and bus network to boost links to and from Cornwall and the Isles of Scilly and connectivity within Cornwall to improve access to employment and education
  • Road improvements at Redruth, Newquay, Falmouth and Truro to unlock housing and employment growth
  • Investment in the strategic road network including the A30 and Carkeel roundabout gateway to improve connectivity
  • Plans to make Bodmin Cornwall’s ‘cycling town’ by creating a new cycling and walking network
  • Major investment in the water and sewerage infrastructure on the Isles of Scilly

 

LEP chairman Chris Pomfret added: “All these investments are designed to take the brakes off growth and support and prepare for future investment through the EU programme.

 

“This is a competitive process so there are no guarantees these projects will win support but we believe we have made a compelling case and look forward to negotiating with Government in the coming months for the best possible Growth Deal for Cornwall and Isles of Scilly.”

 

 

5:11pm 3rd April 2014

Share This Story

Delicious Submit this page to reddit
Suggested articles
space

WATCH: Spaceport Plans Set To Be Unveiled

And Newquay could become home to one...

donald trump

WATCH: Cornwall Protests Over Donald Trump Visit

A demonstration is taking place in Truro

Most read
lanner fire

UPDATE: House Fire Near Redruth

Smoke was seen billowing from building in Lanner

tregadillet a30

UPDATE: Crash Closes A30 Near Launceston

A car rolled over just before the morning rush

Top articles

Three Rescued In 'Drifting' Dinghy Near Newquay

Cornwall News: They were caught in strong offshore winds

Pirate FM Cornwall News Update - 7th January 2016

Cornwall Video News: Officials say they’re holding talks to find new jobs for hundreds of workers in Bodmin.

Economy 'would take £328m hit if migrants downed tools for a day'

National News: The UK economy would take a £328m hit if all migrant workers downed tools for a day, according to new research.

VIDEO: Cats Die From 'Anti-Freeze Poisoning'

Cornwall News: Vets warn others are missing in Camborne and Redruth

Shoesday test

Sponsored: Shoesday test

Billions shows TV's first gender non-binary character

Showbiz News: US TV show Billions made TV history in its new season premiere by introducing TV's first gender non-binary character.

Mike Pence vows Donald Trump's 'strong commitment' to EU

World News: US vice-president Mike Pence has asserted Donald Trump's "steadfast and enduring" commitment to working with the EU - despite the president's endorsement of Brexit.

Mark Clattenburg quits Premier League to referee in Saudi Arabia

Sports News: Referee Mark Clattenburg has quit the Premier League and is moving to Saudi Arabia.

Men and women 'need different things' to keep friendships alive

Strange News: Your ability to keep long-distance friendships alive may depend on your gender, according to a new study.

Newer article

Cornwall's Storm-Damaged Rail Link Reopens

Cornwall News: Damage at Dawlish repaired in time for Easter

Older article

Cornwall's Pirate FMPirate Extra Footer LogoEscape to Cornwall radioLoveCornwall.com - The Cornish Business DirectoryPirate Education and Training

 

© Copyright Pirate FM

Pirate FM cannot be held responsible for the content of external links.