The South West Regional Development Agency (SWRDA) today announced that it is withdrawing its support for deep-water channel dredging and a new cruise terminal in Falmouth Docks due to budget cutbacks.
The news will come as a huge blow to the town’s economy, which had been hoping to benefit from millions of pounds generated from the increased number of visiting cruise ships.
However, SWRDA chief executive Jane Henderson said that due to pressures on its budgets, it had been forced to reduce or withdraw some of its planned projects, including those at Falmouth Docks.
She explained: “We will not be able to support plans to dredge a deeper channel into Falmouth Docks. This project has not been appraised or approved for RDA investment, although we did help fund an environmental impact assessment.
“It also means that we will withdraw our conditional support for a new cruise terminal building. We recognise that Falmouth is a strategically important place, both for employment and Cornwall’s economy, so we want to look at wider economic opportunities for the port, especially around marine renewables linked to Wave Hub, and developing land for employment space.
“Given limited resources, we have our sights firmly focused on doing the things that are most important for ensuring that the south west comes through the recession in the best possible shape to succeed as a dynamic, sustainable and thriving regional economy.”
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