County Council welcomes indication of further European Investment
in Cornwall after Objective One
Cornwall County Council has welcomed indications that the
current £350 million Objective One Programme for Cornwall
and the Isles of Scilly will be replaced with a new EU regeneration
programme worth around a third more.
The news came as a result of a deal reached by the Prime
Minister in Brussels last week, although it has yet to be
agreed by the European Parliament.
Alun Michael, Minister of State for Industry and the Regions,
today announced to Parliament that the deal on the EU budget
agreed by member states last week is likely to give Cornwall
and the Isles of Scilly a new 'Convergence' programme which
could be able to start in early 2007.
Cornwall and Scilly's Objective One programme is due to
be completed at the end of 2008. Partners across Cornwall
and the Isles of Scilly have already started to consider the
priorities for a new programme, with a revision of the economic
strategy 'Cornwall Strategy and Action' as its blueprint.
The Objective One Programme for Cornwall and the Isles of
Scilly is worth £350 million of EU grant at current
exchange rates, and has seen major investment in projects
including the Combined Universities in Cornwall, the upgrading
of the main railway line between Truro and St. Austell, the
most successful roll-out of Broadband internet access in a
rural area, development of the Eden brand name, and building
new technology and business parks.
Cornwall County Council's Executive Member for the Economy,
Andrew Mitchell, says: "This is excellent news. Confirmation
of this new programme means that we can get on with the work
we need to do for Cornwall. The successes of the Objective
One programme together with the strategy being developed by
the Cornwall Economic Forum give us the direction to continue
our journey to greater prosperity, for all in Cornwall to
have a share of."
For further information please contact Cornwall County Council
on 01872 322000.
Media Relations Manager
Objective One Partnership Office
Truro TR1 2UD
Mobile: 07973 813647
Telephone: 01872 223439