Cabinet members have unanimously agreed to support a proposal that Cornwall Council bids to host the Grand Depart Stage of the 2020 Tour of Britain.
Members recognised the potential £3 million economic boost to Cornwall of hosting such a high-profile event.
Cabinet portfolio holder for transport, Geoff Brown, said: “The chance to showcase beautiful Cornwall through the worldwide coverage of Britain’s largest free-to-watch sporting event represents a real opportunity for us.
“When we successfully hosted the Olympic torch relay, we felt the social and economic benefits along the route and in Cornwall as a whole. I believe that this will have the same hugely positive effect.”
