Continuing to Invest in Cornwall

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Invest in Cornwall, Cornwall Development Company’s (CDC) inward investment service, is set to continue into a second phase.

The scheme, which is backed by nearly £1 million of Convergence funding, aims to attract business interest and investment into Cornwall, and create new skilled jobs.

Chris Pomfret, deputy chairman of the Cornwall & Isles of Scilly Convergence Joint Local Management Committee, said: “The Invest in Cornwall project is another example of the ERDF Convergence Programme helping the economic growth of the county.

“It gives us the opportunity to promote the unique features of business life in the county to a global audience, our potential customers. They get a great place to ‘do business’ and Cornwall will get much needed skilled jobs.”

Over the course of the project, Invest in Cornwall has helped to generate new business and growth opportunities for many Cornish firms via a wide range of activities, such as international trade missions and attendance at high-profile trade shows.

During phase one, numerous contracts were secured following exposure at key sector events. For example, last year Invest in Cornwall took a delegation to the Geothermal Energy Expo in San Diego to sell the county’s world-class expertise in this field. A number of firms returned to the UK with new contracts and following the event, CGI and animation specialist, TigerX, set up a New York office.

On another occasion, following Cornwall’s presence at the International Food & Drink Exhibition, one producer won a contract to supply the London 2012 Olympic and Paralympic Games.

Most recently, Invest in Cornwall has been promoting the newly established South West Marine Energy Park at All Energy, the UK’s largest renewable energy conference, where local company Mojo Maritime secured a number of new contracts.

Generating interest in the new Aerohub at Newquay Cornwall Airport Enterprise Zone will also continue to be a focus for the second phase of the project.

The Invest in Cornwall project will continue to be split into two main strands of activity. The first will continue to highlight Cornwall’s resources and expertise in key industries, as well as showcase the county’s many successful businesses in sectors as diverse as food and drink and biomedicine.

The second strand will remain focused on driving investment from overseas markets, concentrating specifically on North America.