New funding for marine sector

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Cornwall Marine Network (CMN) has secured £1.85 million of Government funding to support business growth and create jobs in the marine sector.

Cornwall Marine Network Office

Marine companies could receive grants worth upwards of £50k for capital investment projects such as investment in new equipment, machinery and premises.

It is anticipated that the Cornwall Marine Capital Fund scheme will result in some 145 new jobs being created within Cornwall over the next two years.

It has been granted (subject to due diligence) by the Regional Growth Fund (RGF). It will span two years, with two bidding opportunities taking place this autumn and in Spring 2015.

CMN’s chief executive, Paul Wickes, said: “This is fantastic news for Cornwall. It is the only successful Cornish bid for this round of RGF money and it is the first time CMN has been able to offer capital grants to our member businesses.

“It is a significant opportunity for Cornwall’s marine industry to access funding at a time when banks are lending less. It will support businesses to the next level of growth, enabling them to provide new products and services, which will in turn create jobs and wealth.”

Businesses are invited to express their interest now by completing the online survey via www.cornwallmarine.net.