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18.06.08
New approach to economic development gets go ahead from County Council

Ambitious proposals to create a new economic development company to drive investment and regeneration in Cornwall have been given the green light by Cornwall County Council.

The Cornwall Development Company (CDC) will focus on delivering regeneration and investment projects for the benefit of Cornwall's communities and businesses.

The Council, in consultation with local partners and the business community, has made the decision in light of a national Government review of regeneration and economic development activity at regional and local level, which recommended that local authorities, working closely with Regional Development Agencies, be given a greater role in tackling economic issues in their areas.

Cornwall County Council's Executive Member for the Economy Andrew Mitchell said: "Today's decision to create the Cornwall Development Company represents a step change in how the Council will provide economic development services and support to Cornwall's business community. "The Government's review of regeneration activity presents a genuine opportunity for Cornwall to play a greater role in determining its own future and we are determined to make sure we have the skills and resources in place to increase prosperity both during and after the European Convergence Programme."

The CDC will play a key role in marketing Cornwall as a business and tourist destination, facilitating development and managing Cornwall's employment space, leading on community regeneration, and championing sustainable, low carbon, economic development. The company will also play a key role in the delivery of the Convergence Programme and create local capacity and expertise beyond the end of the programme in 2013.

Theo Leijser, Cornwall and Isles of Scilly Area Director for the South West of England Regional Development Agency, said: "We fully support the creation of the Cornwall Development Company because it will cement the strong partnership that already exists between the public and private sector and bring renewed focus to delivering regeneration activity."

Thelma Sorensen, Chair of the Cornwall and Isles of Scilly Economic Forum, is also backing the new Company: "I welcome the strong leadership role that CornwallCounty Council is taking in developing a Cornwall Development Company. The CDC will be a company limited by guarantee and will be run with substantial involvement from the private sector. This will ensure that the CDC can move at the pace of the private sector to deliver projects that will enable local businesses to grow in the future."

Detailed proposals for the Company will continue to be developed in tandem with the move towards a unitary authority in Cornwall but Cllr Mitchell insisted that this would not disrupt the day-to-day delivery of a number of projects: "A lot of excellent work is already being done across a wide range of projects and this must continue if we are to deliver for communities across Cornwall. These are ambitious plans but we must ensure that transition is done in as smooth a way as possible."

For further information please contact Beverly Hill, Communications Officer, Cornwall County Council, on 01872 322512 or email bhill@cornwall.gov.uk.

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Clare Morgan
Media Relations Manager
The Partnership Office
Castle House
Pydar Street
Truro TR1 2UD
Mobile: 07973 813647
Telephone: 01872 223439

cmorgan@cornwall.gov.uk

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