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13Oct

LEP call for pipeline projects to drive growth and recovery

Cornwall and Isles of Scilly Local Enterprise Partnership (LEP) is inviting businesses and organisations across Cornwall and the Isles of Scilly to submit an Expression of Interest for funding for future capital projects that can drive economic growth.

The LEP has previously secured £78m from the Government’s Local Growth Fund and a further £14m recently through the Getting Building Fund. Although all of this funding is now committed there are likely to be future devolved funding rounds that the LEP can bid into.

The LEP is keen to maintain a pipeline of projects so it can respond swiftly, or signpost projects to other funding opportunities.

It continues to work with Government on developing the proposed Shared Prosperity Fund, which will replace EU funding now that the UK has left the EU and is seen as a key part of the Prime Minister’s levelling up agenda.

LEP Chair Mark Duddridge said: “The Government is committed to reducing geographic inequality and levelling up the country and that is more important than ever given the impact of the coronavirus pandemic on our economy.

“There’s a real opportunity for us to play a national role in the UK’s economic recovery, and we’re looking for a pipeline projects that align with our Local Industrial Strategy and low carbon ambitions so that we’re well placed to take advantage of future funding rounds, including the Shared Prosperity Fund.

“We are only inviting Expressions of Interest at this stage because we do not yet know exactly what future funding streams will look like or how they will be administered, but we want to be ready.”

Mr Duddridge said the LEP had continued to remind Government about previous commitments to replace EU funding ‘pound for pound’ in Cornwall and Scilly, and had reiterated the case for a significant multi-year, devolved settlement with local decision-making at its heart in its recent submission to the Comprehensive Spending Review.

Before submitting an Expression of Interest applicants are asked to bear in mind the following:

  • This is to establish a pipeline of projects for potential future funding as and when more funding becomes available
  • The minimum grant funding request is £250,000
  • Funding is for capital projects only
  • Projects must be ‘shovel ready’ or well developed
  • Applicants should have a good track record of delivery
  • Projects must support the objectives of the LEP
  • Projects should make a good economic return with a strong rationale for public investment

Visit the LEP website for further information and guidance and to download an Expression of Interest Form.

Page last updated: 12:30, 13th October 2020
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Cornwall and Isles of Scilly Local Enterprise Partnership, PO Box 723, Pydar House, Pydar Street, Truro, TR1 1XU
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