Businesses and community organisations are being invited to apply for the first opportunities for funding from the £132 million Shared Prosperity Fund (SPF).

To secure the funding they must show their projects can drive “good growth” in the region such as creating more skilled jobs, delivering greener and more inclusive work opportunities and investing in communities and places.

A new Economic Prosperity Board made up of councillors from Cornwall Council and the Council of the Isles of Scilly will consider the applications.

Advice and support to applicants will be offered through the Good Growth team hosted by Cornwall Council, to help potential applicants make their funding bids.

There are seven funding categories for projects to be targeted towards in the first round of funding:

  • Strategic Business, Enterprise and Research and Development Infrastructure (£18.7m) – site-specific funding to accelerate workspace and infrastructure projects that will enable business growth.
  • Town, Rural and Coastal High Street Development and Skills Programme (£4.4m) – funding for businesses, property owners (public/private/third sector), developers and skills providers in towns, rural and coastal communities and on the Isles of Scilly to regenerate high streets and neighbourhood shopping areas.
  • Cultural Events and Talent Programme (£4.4m) – activities to engage communities, promote growth and wider participation and create sustainable jobs by generating more year-round, permanent, higher paid employment, by using our cultural product to reduce the seasonal nature of the tourist sector.
  • Culture / Heritage-led Regeneration and Skills (£10.82m) – investment in the creative economy, cultural institutions and heritage buildings and assets that regenerate places and communities, drives pride in place and supports development of skills, sustainability and social mobility.
  • Community Skills Hubs (£5.198m) – using existing community and education buildings to promote and deliver skills and training and skills opportunities.
  • Community Connectivity and Digital Inclusion (£1.5m) – projects which improve digital connectivity, digital inclusion and skills.
  • Multiply numeracy programme (£496k) – promoting opportunities to support adult numeracy.

Councillor Louis Gardner, Cornwall’s portfolio holder for economy, said: “We are encouraging everyone who would like to help us deliver good growth in Cornwall and the Isles of Scilly to fill in the funding enquiry form on our website  Contact – Shared Prosperity Fund (

“Any organisation can apply, as long as you can show you can deliver good growth against the criteria that is set out in each funding category. There will be support and advice from our Shared Prosperity Fund team to make sure that each enquiry is directed to the right part of the programme.”

Councillor Steve Simms, Lead member for Economy, Transport and Tourism at the Council of the Isles of Scilly, added: “The shared prosperity fund offers a new opportunity for support to our economic and skills agendas, with the ability for the first time in many years, for programmes to be shaped, and focused on local issues. We will be working hard to ensure that the opportunities are grasped by local businesses and communities alike, by spreading the word, and signposting to those needing advice, help on how to apply.”