Objective One celebrates two years of achievement
The Objective One programme for Cornwall and the Isles of Scilly is celebrating two years of achievement with 261 projects now approved, worth £339 million in total.
It was two years ago this week that the programme first went live, providing £314 million of European funding between 2000 and 2006 for the regeneration of the Cornish economy. In that time, £140 million of European funding has been awarded to projects, with a further £199 million coming from other sources such as the Government, local authorities and private businesses to make a total investment of £339 million so far.
The most recent project to be announced is a £3 million poultry processing plant to be built at Camelford, creating 51 new jobs and providing a huge boost for poultry growers in Cornwall.
Taken together, the 261 projects approved to date are forecast to have the following impacts during the lifetime of the programme:
||14,800 jobs created or safeguarded, of which at least half are expected to be additional quality jobs
||31,000 people trained
||£420 million of sales created or safeguarded
||26,900 sq metres of workspace created
||13 hectares of land services
||32,000 businesses assisted (many are being assisted by more than one Objective One project)
This data is based on what each of the projects approved so far is expecting to contribute to the Cornish economy by the time it is completed, which in some cases won’t be until 2006.
Bill Bawden, Objective One programme director, said: “These figures really speak for themselves and represent a phenomenal achievement for the Objective One programme. When you consider that we actually have until 2008 for projects to spend their funding, we’re still only a quarter of the way through the lifetime of the Objective One programme and already we’re seeing very impressive results.
“We are, for example, around half way towards our target of creating 15,000 quality jobs in Cornwall and we’re already on course to deliver two thirds of the 40,000 sq metres of workspace that is expected to be delivered by the programme. On the training side our target is 35,500, and existing projects are already forecasting 31,000, which is terrific news. “Some of these benefits are still a few years away because projects such as Finance Cornwall, which has created a £20 million investment fund for local businesses and expects to create 2,000 new jobs by helping companies grow and relocate to Cornwall, has only recently got up and running.
“The other important factor to bear in mind is the impact on Cornwall’s Gross Domestic Product. GDP figures are always three years in arrears so it will be around 2006 or 2007 before anyone will be able to see a meaningful measurement of Objective One in terms of its impact on GDP.
“That said, few would doubt that there is a tangible air of excitement and optimism in Cornwall. It’s no exaggeration to say that we are seeing the start of an economic renaissance in Cornwall and Scilly, fuelled not just by Objective One but by things like the Eden Project, the National Maritime Museum, the Combined Universities in Cornwall and better transport links like the arrival of Ryanair, the upgrading of the A30 over Goss Moor and proposed improvements to our rail network.
“More than anything, Objective One is a catalyst for regeneration that will endure well beyond the lifetime of the programme.”
Media wishing to look at specific case studies of successful Objective One projects are invited to contact the three companies below, all of which are happy to be interviewed.
BTE Services Ltd, Liskeard
BTE Services Ltd (BTE) was established in 1993 by Margaret and Brian Sampson as a facilities management company specialising in the provision of washroom services and vended products.
Based in Liskeard, BTE manufactures, installs, stocks and maintains vending machines at numerous sites throughout Cornwall, Devon, Somerset, Dorset and London. 55% of turnover is out of county and growing.
As the business grew, it was hampered by the quality of its customer database and the way in which information was stored. Under specialist advice from Business Link, BTE decided to upgrade its access database and network a new ICT system. New, larger premises were also required to accommodate business growth. Additional finance was needed for the project to proceed, and an application was successfully made to South West Investment Group (SWIG).
Thanks to SWIG’s Objective One Business Development Funds, which have so far committed over £1 million to over 130 Cornish businesses, the project has gone ahead. Around a dozen existing jobs have been secured and one new full-time and two new part-time positions created (with more anticipated).
Managing Director Margaret Sampson says that the South West Investment Group’s help was crucial in allowing the company to equip and adapt the necessary larger premises and to upgrade its IT system to deal with the expanded business.
For more information contact:
Margaret Sampson, BTE Services Ltd, 11 Miller Business Park, Station Road, Liskeard PL14 4DA. Tel: 01579 348999
South West Investment Group:
John Peters or Peter Casey, Tel: 01872 223883
New Quality Prepared Veg Ltd & Newquay Fruit Sales, Newquay
Based in Springfield Road, Newquay, this company distributes ready to use vegetables, sourced locally wherever possible, to restaurants and pubs. An Objective One grant provided through a £6 million project run by Cornish Horticultural Enterprises will allow the company to build a new wash and preparation room, and help provide distribution and refrigeration equipment. The company has recently taken on six new staff, two of them full time.
For more details contact Gareth or Rachael Craze on 01637 876336.
Camel Valley Poultry Ltd, Camelford
See separate press release for details.
Programme performance by fund
The Objective One programme for Cornwall Scilly is providing grant funding of £314 million between 2000 and 2006 to help regenerate the Cornish economy. The programme is divided across four separate funds: European Regional Development Fund (ERDF); European Social Fund (ESF); European Agricultural and Guidance Guarantee Fund (EAGGF) and the Financial Instrument for Fisheries Guidance (FIFG). For information on the amount of funding that has been awarded under each fund so far, please contact the Objective One Partnership Office on 0800 0280120.
Top 15 Objective One projects
This is a list of the top 15 Objective One projects approved to date, ranked in order of the size of grant funding awarded. The total value of each project, including matched funding, is given in brackets:
Combined University in Cornwall Phase One: £37 million (£79.7 million). This includes £24.7 million for the main CUC campus at Tremough near Falmouth which was announced this week; £4.77 million for the expansion of Cornwall College at Camborne, Saltash, Newquay, St Austell, Rosewarne and Stoke Climsland; £1.67 million for Truro College and £4.93 million of start-up funding.
Finance Cornwall: £9 million (£20 million). Loan and equity fund for business, which is being formally launched on September 13.
actnow: £5.23 million (£12.56m). Project to bring broadband internet to Cornwall, targeting 3,300 businesses.
Dairy Crest: £4 million (£49m). Massive expansion of Dairy Crest's cheddar cheese plant in North Cornwall.
Cornwall Arts Marketing: £2.92 million (£6m). Umbrella fund to develop and market the arts sector in Cornwall.
South West Film Studios: £2 million (£5.76m). Project to create state-of-the-art film studios at St Agnes, supporting up to 200 jobs.
Engineering and Construction Centre of Excellence: Cornwall College, £2 million (£5m). Project to attract more students into the engineering and construction industries and equip them with the latest skills. Work started on site last week.
Rural Tourism Improvement Fund: South West Tourism, £1.97 million (£7m). Umbrella fund for rural tourism businesses.
Tolvaddon Energy Park: £1.86 million (£4m). Has created 19 businesses units at Camborne. Match funded by RDA.
Eden Foundation building: Eden Project, £1.75 million (£4m). To enable the Eden Project to realise its aspirations in the fields of science, education and research. Will be completed in December.
St Columb factory unit: £1.7 million (£3.2 million). Largest speculative factory built in Cornwall for some years, now used at national distribution centre for Borders Books Ltd. Match funded by RDA.
Modern Apprentices for All: Prosper, £1.62 million (£3.8m). Providing on-the-job training, leading to NVQ qualifications for 2,000 employees working for small and medium-sized businesses.
Open Doors: Cornwall County Council, £1.6 million (£3.69m). Three-year county-wide project to improve the range of training and job opportunities for people with disabilities.
Cornish Horticulture Enterprises: South West Horticulture 2000, £1.54 million (£6.6m). To support plant and flower growers in Cornwall and the Isles of Scilly.
Adding Value to Business Support Through the SBS: Prosper, £1.56 million (£3.1m). To provide a higher level of support to small businesses in Cornwall and Scilly.
Objective One Partnership Office
Truro TR1 2UD