Statistics reveal high growth for Cornwall and Isles of Scilly
Cornwall and the Isles of Scilly is leading EU regions with
its economic growth, according to new statistics.
According to the Eurostat regional statistics for 2003 -
which are the most up to date statistics published for 25
countries in the European Union - the GDP (gross domestic
product) per head of Cornwall and the Isles of Scilly had
risen to 75.8% of the EU average. This is 10% higher than
GDP is a way of measuring wealth creation in the workplace
and Eurostat advises that it can be used to compare the degree
of economic development of regions. Cornwall and the isles
of Scilly originally qualified for Objective One because its
GDP was well below the EU average of 75%.
The Eurostat statistics show the following trends:
||Cornwall shows the greatest improvement of any of the
regions at 10.5 % points and is the only region with an
improvement of more than 10 % points. The next best is
a Czech region, Stredni Cechy on 9.6% points.
||Cornwall's improvement is dramatically better
than any of the other selected UK regions.
The news confirms 2003 regional UK statistics that were released
in December by the Office for National Statistics. Those GVA
(similar to GDP) figures clearly showed that Cornwall and
the Isles of Scilly had one of the fastest growing economies
in the UK in 2003.
Carleen Kelemen, Director of the Objective One Partnership,
said: "This is great news. The Eurostat figures
show a hugely encouraging growth for the economy of Cornwall
and the Isles of Scilly in by 2003.
"Since the Objective One programme began in 2001
the journey to make this a wealthier region has been steadily
accelerating with investment in key areas including the Combined
Universities in Cornwall, The Eden Project, business support,
transport infrastructure, IT, workspace, local produce and
"We must remember this journey was still in an
early stage in 2003 and future investment must continue to
be strategically targeted to encourage further sustainable
In 2003 the Combined Universities in Cornwall had still not
opened and neither had the Knowledge Spa – these both
opened in September 2004. Alongside those projects come incubation
facilities that will encourage business growth through contact
with knowledge (via graduates), research, facilities and manpower.
The latest high profile project to be launched this year
is Fifteen Cornwall where young people from targeted areas
across Cornwall are being trained in restaurant skills. Fifteen
Cornwall is also sourcing the majority of its top quality
Andrew Mitchell, Cornwall County Council Economy Portfolio
holder, said: "This is great news and serves to
confirm the good work going on in Cornwall is having an effect.
"To make this effect permanent and achieve sustainable
growth we need to focus on creating a more knowledge-driven
economy providing tools such as bespoke workspace; top class
IT; research and development facilities and a supply of new
graduates and businesses."
John Berry, Managing Director of Cornwall Enterprise, the
economic development arm of Cornwall County Council commented:
"The new Eurostat GDP figures are hugely encouraging
and certainly highlight the amount of hard work that has gone
on in the county over the past five years to encourage economic
"An immense pride has taken hold in Cornwall there
are many agencies, businesses and people that can take a lot
of credit for the changes that have occurred. Cornwall Enterprise
has played its part with an active role in the regeneration
of the county; securing funding, developing projects, broadband
infrastructure, inward investment, tourism and training to
name but a few. These have all helped contribute towards a
more prosperous Cornwall and I am delighted that the figures
have begun to recognise these efforts.
"Cornwall Enterprise is currently busy preparing
plans for the new round of Convergence funding which offers
Cornwall a wonderful opportunity to build on our previous
success and capitalise on the knowledge and specialist skills
we have gained."
For further information please contact Clare Morgan on 01872
223439 or 07973 813647 or email: email@example.com.
Cornwall originally qualified for Objective One status because
of its low GDP.
GDP is usually shown as a percentage of the EU average. The
more employees earn in a region, the higher the GDP. Objective
One in Cornwall and the Isles of Scilly is aimed at raising
GDP by creating higher paid, quality jobs.
Media Relations Manager
Objective One Partnership Office
Truro TR1 2UD
Mobile: 07973 813647
Telephone: 01872 223439