Two Cornish businesses are among the first to secure grants from the South West Growth Fund.
Allen & Heath, a creator of audio mixing systems, will received £230,695 to help create 19 high level research and development (R&D) jobs in Cornwall.
With 105 staff currently based on the Kernick Industrial Estate in Penryn, Allen & Heath is embarking on a nine-month programme to turn its manufacturing building into an R&D space.
MD, Glenn Rogers, said: “With much of our manufacturing now being outsourced, we needed to invest in R&D to grow the business, and keep our competitive edge.
“The South West Growth Fund has enabled us to raise enough investment to redevelop our site so we can keep developing products to drive future growth.”
ISO Spaces, meanwhile, has secured a £34k grant to open a new 10,000-square-foot factory in St Blazey. This will help the business, which turns shipping containers into work, living and leisure spaces, develop its product range and create four new jobs.