The LEP has welcomed today’s Budget announcement of the creation of a new Enterprise Zone in Cornwall for marine energy.
The Chancellor also confirmed that ownership of the Wave Hub will be transferred from the Department of Business, Innovation and Skills (BIS), to the Council.
Sandra Rothwell, chief executive of the Cornwall and Isles of Scilly Local Enterprise Partnership (LEP), which will oversee the MarineHub Enterprise Zone, said: “The Budget delivers on a number of key areas in the Cornwall Devolution Deal including the low carbon economy and transport, and there is support for science and innovation and a promise of a further round of Growth Deals, although this is likely to be very competitive.
“MarineHub is a centrepiece of our ambition to make our region a world leader in the development of marine renewable energy, attracting investment and creating well-paid jobs.
“The package of support includes additional investment, the Enterprise Zone and transfer of ownership of Wave Hub to Cornwall Council to further develop this key asset. This is excellent news, and the Council deserves full credit for making the case.
“Overall this Budget provides some of the building blocks we need to develop our future economy in line with our economic plan, and we look forward to working with all our partners in taking this forward.”