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Marine Business Park Cash Boost
8:17am 21st May 2014
Europe pumps 24 million pounds into a marine business park in Hayle.
The site that will have a load of office space could create 120 new jobs by 2020.
Officials are hoping it will boost business for the Wave Hub too.
Work is due to start next month.
The extra funding for Hayle follows the development of North Quay and represents a total package of investment of £24m from Europe and local partners.
Hayle is already the home of Wave Hub; the world's largest marine renewables test site connected to the grid and officials say the addition of the marine renewables park will further strengthen Cornwall's capability to support this growing sector.
Chris Pomfret, Chair of the LEP and Deputy Chair of the Convergence Local Management Committee, which steers the ERDF Convergence programme, commented: "It is a real achievement to have secured this significant investment to make the Hayle Marine Renewable Business Park become a reality. Working with the supply chain to identify the requirements of the industry has ensured we are creating something that is needed and going to help develop the industry."
The new facility is designed to accommodate companies at the vanguard of future marine renewables energy production and will be a collaborative partnership between local and national government, the Local Enterprise Partnership, technology developers and industry.
The bespoke business park development will also be fibre enabled, ensuring superfast broadband capability for the businesses on site.
Julian German, the Council's Cabinet Member for Economy and Culture, said: "Cornwall is the natural home to marine renewables and the development of this site will help further strengthen our ability to deliver cutting edge technology in the sector. Cornwall is already able to offer access to world leading research institutions and facilities and the marine renewables park will further support businesses in this ever evolving sector."
The business park will provide the gateway to the Wave Hub site, which is situated just 10 miles off the coast of Hayle.
Officials say it will be suitable for all companies involved in the development, deployment, servicing and maintenance of wave and floating wind power devices as well as new and existing supply chain businesses supporting this sector.
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