The Cornwall & Isles of Scilly Local Enterprise Partnership (LEP) has welcomed the Government’s announcement that its application for funding for the Enterprise Zone Business Park has taken a step forward.
The LEP submitted a bid for Enterprise Zone funding in March, and has received confirmation that its application for investment is to move on to the appraisal stage. It will now undergo further testing to ensure value for money for the taxpayer.
The investment from the Homes and Communities Agency’s Economic Assets Programme would open up the 90-acre Business Park development site on the south side of the airport.
The site requires investment to provide roads and services to develop what is now one of the largest planning free development zones in the UK. The investment will provide serviced development land for the private sector development of offices and factories.
LEP chairman, Chris Pomfret, said: “This fund is aimed at Enterprise Zones with real short term growth potential, accelerating development projects that will achieve the global competitive edge needed to attract investors.
“The Chancellor named Aerohub as one of the strongest original EZ bids and this confidence in our application for investment reinforces our belief that we remain one of the leaders in terms of EZ development.”
Julian German, Cornwall Council’s economy and culture portfolio holder, added: “This funding would help enable Aerohub to realise its potential and could result in over 500 jobs on the Enterprise Zone by 2015, allowing for a greater acceleration and expansion of the existing programme.”