A multi-million pound package of investment secured by the Cornwall and Isles of Scilly Local Enterprise Partnership (LEP) is on course to create more than 3,000 jobs and safeguard a further 3,500.
In the last three years, the LEP has successfully bid for and overseen almost £19 million of investment through the Government’s Regional Growth Fund and the Growing Places Fund.
This has directly supported 140 local businesses and is on track to create 3,100 jobs and safeguard 3,500 more by the time the funds are fully spent in 2018/19.
The LEP estimates that a further £90 million of additional public and private investment will have been attracted as a result of that original £19 million of funding.
In the same period, the Aerohub Enterprise Zone at Newquay Airport, for which the LEP successfully bid, has created more than 200 jobs with nine new businesses on site.
Chris Pomfret, chairman of the Cornwall and Isles of Scilly LEP, said: “We worked hard to bring this money to Cornwall and the Isles of Scilly to support business growth and job creation.
“These investments cover a wide range of businesses and sectors, and include key infrastructure projects that will help our economy grow.
“Our focus now includes delivering the £60 million Growth Deal we have secured from Government between now and 2021, which includes money to unlock sites for new homes and jobs, and further investment in broadband, road and rail.
“At the same time the LEP is playing a key role in shaping the EU Growth Programme in Cornwall and the Isles of Scilly, through which we will see around £500 million invested. In total we anticipate around £1 billion of investment in our economy over the next five years when you add in additional money from the private and public sector.”