Cornwall & Isles of Scilly LEP has set out pitch to government and business for future investment

A pitch to government and business, focusing on ten key sectors, has been outlined by The Cornwall and Isles of Scilly Local Enterprise Partnership (LEP). The document will be used to inform future discussions with ministers and investors as the government implements its Industrial Strategy which aims to significantly improve investment in skills, industries and infrastructure and should lead to the creation of better, higher paid jobs in the region. N.B. England’s 38 LEPs are expected to develop their own regional Industrial Strategies to drive business growth and job creation in their areas. These will inform subsequent bids to the government’s Shared Prosperity Fund which is designed to replace EU funding when that expires in 2020. For the fuller picture on this subject please read the news bulletin below which was issued today by Insider News Media Ltd.

Roger Mundy, Managing Director, Beardsley Theobalds, 16th January 2018

 

 

LEP outlines road to growth

The Cornwall and Isles of Scilly Local Enterprise Partnership (LEP) has set out a pitch to government and business for future investment, focusing on ten key sectors that can play a critical role in growing the region’s economy.

The document will be used to inform future discussions with ministers and investors as the government implements its Industrial Strategy, which sets out an ambition for investment in skills, industries and infrastructure to create better, higher paid jobs.

Called ’10 Opportunities’, the LEP’s prospectus showcases how technology is helping to drive new industries like space, e-health and marine energy, and can transform existing sectors like agriculture and mining.

It makes the case for the region as a test-bed for new ideas and policies, from the creation of a smart grid on the Isles of Scilly, to trialling a new VAT regime for tourism businesses, to being a pathfinder for the rural rollout of 5G mobile technology.

It calls for the creation of a Creative Enterprise Zone to capitalise on a sector that is already growing at twice the rate of the UK economy, and for an agri-food sector deal that could make the whole of Cornwall and the Isles of Scilly a Food Enterprise Zone offering investment and tax breaks to business.

LEP chairman Mark Duddridge said: “We’re pitching a 21st century economy to government and investors that shows off our strengths and sells opportunity.”

Publication of the 10 Opportunities prospectus was welcomed by business leaders including Kim Conchie, chief executive of Cornwall Chamber of Commerce and Industry, and Tim Jones, chairman of the Devon & Cornwall Business Council.

England’s 38 LEPs will be expected to come up with their own regional Industrial Strategies to drive business growth and job creation in their areas. These will inform subsequent bids to the government’s Shared Prosperity Fund which is designed to replace EU funding when it runs out in 2020.