New Economic Prosperity Board meets to discuss bids to drive good growth

The new Cornwall and the Isles of Scilly Economic Prosperity Board has met for the first time to consider how to invest the Shared Prosperity Fund awarded to the region to drive good growth in the economy.  

Made up of councillors from Cornwall Council and the Council of the Isles of Scilly, the board met at New County Hall on October 10 to consider 25 applications for funding, totalling a request of £15m.

Cornwall and the Isles of Scilly Economic Prosperity Board meeting

The applications from projects across the region were in response to open invitations for funding launched in August by Cornwall Council which is managing the delivery of the Shared Prosperity Fund on behalf of Cornwall and the Isles of Scilly.  

Councillor Linda Taylor, chair of the Economic Prosperity Board and leader of Cornwall Council, said: “I am thrilled with the outcome of the first Cornwall and Isles of Scilly Economic Prosperity Board meeting where we had an opportunity to direct investment into projects that will deliver outcomes for our communities and drive good growth in our economy.” 

It is anticipated that all applicants will be made aware of the outcome of their application by the end of October, and conversations with successful applicants will be taken forward to ensure that delivery can start as soon as possible. 

Businesses, community organisations, public bodies and partnerships across the region are being reminded that four categories of the Shared Prosperity Fund Good Growth programme remain open for applications until August 2023.  

They are: 

  • 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. 

To secure funding, project applicants must show they can deliver positive and sustainable economic, environmental and social outcomes for Cornwall and the Isles of Scilly and drive good growth. 

This could mean creating more skilled jobs, delivering greener projects, more inclusive work opportunities and investing in activity that can improve pride in place and the environment at a community level.  

In order to achieve a geographical balance of supported projects Cornwall Council is now particularly interested in receiving more applications from St Austell, Newquay, North and South East Cornwall. 

It is also keen to see more bids under two specific categories – the Town, Rural and Coastal High Street Development and Skills Programme and the Cultural Events and Talent Programme. 

The next review point for bids to come forward is December 2 for projects to be considered at the January 2023 Economic Prosperity Board meeting. 

Cllr Louis Gardner, Cornwall’s portfolio holder for economy, said: “We’ve received a variety of interesting and exciting project applications across all the Shared Prosperity Fund activity areas we can offer support on and we thank everyone who has made enquiries and put their bids in.  

“We’re still seeking applications for four funding streams so please contact us now if you would like to apply.”  

Cllr Steve Sims, Council of the Isles of Scilly’s Lead Member for Economy, Tourism & Transport, said: “We are pleased to be working with colleagues from Cornwall Council to deliver the exciting opportunities that the Shared Prosperity Fund offers.

“We aim to work with colleagues to ensure that our island communities can fully participate in all the funding areas that will assist access to greater economic viability as well as fairer access to services and cultural facilities that are such a pivotal part of the levelling up agenda.”

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.  

The Economic Prosperity Board will meet again on November 16 to consider additional funding applications and to make a decisions on the Rural Prosperity Fund. 

For more information go to www.ciosgoodgrowth.com 

 

Story posted October 12, 2022

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