Greg Clark, MP, Minister for Universities, Science and Cities (l) and Chris Pomfret, Chairman of the Cornwall and Isles of Scilly Local Enterprise Partnership (r). Photo: Matt Jessop.

ESI hosts signing of major new funding deal for the region

The ESI was the venue for an official signing ceremony for the £198.9 million Cornwall and Isles of Scilly Growth Deal. Greg Clark, Minister for Universities, Science and Cities, joined with council and business leaders from across Cornwall to sign the the deal, which secures £48.9 million of government funding, as well as a further £150 million of additional investment from local partners and the private sector.

Greg Clark said: “I am delighted to be in Penryn today to sign this historic deal. It provides Cornwall and the Isles of Scilly with the tools the area needs to forge ahead, create new jobs and grow local economies. Thousands of jobs will be created and much-needed homes will be built as a result.”

Chris Pomfret, Chairman of the Cornwall and Isles of Scilly Local Enterprise Partnership, said: “Signing our deal with the Minister is a real milestone, unlocking as it does millions of pounds of investment to grow the economy of Cornwall and the Isles of Scilly. Our deal is the first tranche of investment vital to delivering our Strategic Economic Plan; a plan that could see around £1 billion of public and private sector monies invested in our economy between now and 2020.”

Professor Kevin J Gaston, Director of the ESI said: “We were delighted to host this important signing ceremony here. The choice of the ESI as a venue for this significant moment for Cornwall and the Isles of Scilly helps cement our role as an influential and positive force for innovation, research and growth.”

The Deal is part of a £12 billion long-term programme to revitalise local economies. Local businesses and council leaders have been invited to open discussions immediately on the next set of projects to be funded, building on the momentum that has been established.

Date: 7 October 2014