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05.08.03
Rural Key Fund could unlock Looe grant funding

A new £30,000 in-depth study of economic regeneration in Looe is being funded by £27,000 from the Objective One Rural Key Fund and £3,000 from Caradon District Council. It will take a detailed look at four ambitious economic regeneration projects planned for Looe and provide a professional and unbiased assessment of the projected benefits for the town and local people.

The assessment is expected to provide crucial proof of the need for the projects, which will be used as evidence in future applications.

The economic impact study will concentrate on:

The £850,000 Looe HERS project, which will upgrade the conservation area in the central part of town to make it more attractive for visitors and residents
The upgrading of the inner harbour and harbour flood defence scheme
Looe Sea Front Regeneration Project, which would enhance the main sea front area, including the east beach and river mouth
Polean Industrial Area, which could be developed for industrial, commercial, retail and tourism purposes

The three month study commissioned from Arup and King Sturgess will be managed by The Looe Regeneration Partnership, Caradon District Council and South East Cornwall Regeneration Project Ltd.

Councillor Ron Overd, Caradon's Cabinet member with the Supporting the Rural Community and Economy portfolio said: "We want to develop and improve Looe's unique assets to help the town move towards a high skill and high wage economy with a good range of local employment. The key factor in building a vigorous economy for Looe is the regeneration of the waterfront, and to do that we need substantial investment. The economic impact study will give us hard evidence of the value of this regeneration."

Media enquiries contact:

David Moore, Conservation Officer on 01579 341461.

Stephen Vinson, Deputy Head of Economic and Community Services on 01579 341031.

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Jason Clark
Communications Manager
Objective One Partnership Office
Castle House
Pydar Street
Truro TR1 2UD
Tel: 01872 241379
Fax: 01872 241388
jason@dclark.co.uk

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