The Cornwall and Isles of Scilly (CIoS) Growth Programme is open for business and the first projects have started to be contracted. This European Programme will run until 2020 and is worth around 600 million euros.
The money comes from the European Regional Development Fund (ERDF), the European Social Fund (ESF) and the European Agricultural Fund for Rural Development (EAFRD). It will be invested in line with the priorities set out in the CIoS ESIF Strategy, that aligns with the LEP's Strategic Economic Plan and focuses on the themes of Future Economy, Growth for Business and Conditions for Growth.
As and when EU funded local business supports start up the EU Communications (ITI Support Team), CIoS Growth Hub and the LEP will be announcing them.
Find out the latest information on business support on the Growth Hub website.
Growth Programme to date
72 projects are now live with a total investment of more than £240m contracted. Many of the projects are recording positive impacts. Under the European Regional Development Fund (ERDF) this includes a significant amount of business support through the various functions available. Businesses in Cornwall and the Isles of Scilly are encouraged to access the Growth Hub to see how the European funding could help them. The most recent ERDF project to be announced is the United Down Deep Geothermal Project. The work aims to capitalise on Cornwall’s unique geology and develop a demonstration power plant to produce clean energy. The potential for sector growth is very exciting. The European Social Fund projects are reporting numerous positive impacts including very recently a celebration event for 19 people in West Cornwall who are working on the Who Dares Works project.
Projects Update Document
You can download the full Projects Update document with a summary of all the live projects here – Growth Programme Projects Update
Funding Calls – close September 23rd
Two funding calls were opened on July 3rd. The calls or collectively worth nearly £12m. They focus on Research and Innovation (£10m) and A shift towards low carbon economy (£1.95m). Details of the calls can be found here – funding calls.
64 projects have been contracted securing both European Regional Development Funding and European Social Funding. The investment total is £218m and a further £79m of match funding. Under ERDF 45 projects have begun which includes 22 awarded to the private sector. Through ESF, 19 projects have been contracted helping people towards or into work as well as skills development for career progression.
25 projects have been contracted securing
both European Regional Development Funding and European Social Funding. Investments have been made across a broad
range of areas including the development of the Growth Hub, a single point of
access to the range of support available to businesses, workspace at Carluddon
Technology Park and, Skills for Young People who are not in education,
employment or training (NEET).
Business development, Food processing and Rural tourism infrastructure
Three funding calls have been announced by the Rural Development Programme for England that will support business development in rural communities. More than £6.5m of funding is available across three different themes which are; Food Processing, Business Development and Rural Tourism Infrastructure. The grants are funded by the European Agricultural Fund for Rural Development (EAFRD), which is aligned to the wider European Structural and Investment Funds (ESIF). For more details please visit here.
The list of calls can be found here.
Building on a Legacy
Previous rounds of investment in Cornwall and Isles of Scilly have had a lasting impact and provide a platform for further growth and development. A number of the previous investments have featured in short video case studies which can be seen on the Growth Programmes online video channel. Click here to view.