Cornwall Council is reminding businesses in Cornwall and the Isles of Scilly to apply for investment support through the Good Growth Programme, with applications closing on 27th January 2025.
To help potential applicants through the process, a webinar will be held on 9th January 2025, providing guidance and answering questions.
The opportunity for funding follows the Government’s confirmation that Cornwall will receive an additional £47.3 million from the Shared Prosperity Fund (SPF) to drive economic development in 2025-6. Managed by Cornwall Council, this funding builds on the existing three-year SPF allocation of £137 million, which is set to end in March 2025.
Businesses from targeted sectors are invited to apply for funding with a minimum request of £200,000. To be eligible, projects must be deliverable by March 2026 and meet specific criteria, including match funding and necessary planning consents.
The Council is particularly keen to support projects that capitalise on the unique strengths of Cornwall and the Isles of Scilly, fostering growth in distinctive and core sectors. These include:
- Critical Minerals: Sustainable extraction and processing in Cornwall.
- Renewable Energy: Innovations in floating offshore wind (FLOW), deep geothermal, and biomethane capture.
- Data, Space, and Aerospace: Leveraging physical, digital, and intellectual assets to address global challenges.
- Marine: Including FLOW opportunities and decarbonising shipping and related activities.
Projects improving job quality, earnings, and business performance in core sectors such as the Visitor Economy, Agrifood, and Creative Industries (with a strong emphasis on digital and tech) are also encouraged.
Cllr Louis Gardner, Cornwall Council’s portfolio holder for economy, said: “This latest SPF allocation allows us to continue investing in Cornwall’s distinctive and core sectors, creating high-quality jobs and driving innovation. I strongly encourage businesses to explore this opportunity and join the webinar on 9th January to learn more.”
The webinar will provide an overview of the programme, eligibility requirements, and guidance on the application process. Businesses can find more details and register via the Good Growth Programme website.
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