Our Investments

FUND

Spaceport Cornwall Infrastructure: Growth Deal Contribution £0.5m

Spaceport Cornwall will be a horizontal Satellite launch site at Cornwall Airport Newquay (CAN), providing flexible, low cost, and resilient access to space for small satellite launch systems. Spaceport will place Cornwall at the forefront of global innovation in rapid transit, launch technologies and human spaceflight.

Work package 1 – Spaceport Cornwall Permanent Licenced Spaceport UK capability by upgrading existing Airport infrastructure leading to an orbital satellite launch in 2021 allowing other deployed Space Launch systems to operate if desired.

Current Status: Grant Funding Agreement signed February 2020. Surveys and enabling works have started.

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FUND

Enabling Works Liskeard Cattle Market: Growth Deal contribution £0.59m

Enabling works to unlock the construction of the Liskeard Cattle Market Digital and Creative Workspace and kick start the regeneration of the wider site. The Liskeard Cattle Market Digital and Creative Workspace will provide 850m2 (net) of high quality workspace for micro businesses & SMEs, focussed on the digital & creative sector. The project is located within Liskeard Cattle Market site, which occupies an area of 1.4 hectares, is located in the heart of Liskeard.

Current Status: Grant Funding Agreement signed January 2020.  Planning approved, works due to have started.

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FUND

Delivering Growth Through Increasing Frozen Food Capacity and Efficiency: Growth Deal contribution £0.575m

The construction of a food-grade frozen cold store with capacity for 1,000 pallets on un-developed land on the Cardrew Industrial Estate will enable the business to increase production, increase storage capacity by 450 tonnes, operate more efficiently and in doing so create 16 sustainable new jobs in the community and reduce carbon emissions by 64 tonnes per annum.

Current Status: Construction work commenced February 2020, completion expected March 2021.

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FUND

The Porthleven Business and Community Park: Growth Deal contribution £0.7m

Porthleven Business and Community Park will boost the economic sustainability of Porthleven by providing employment space which will support a total of 40 jobs across three business units on a Brownfield site located on Tolponds Road to the Northern Edge of Porthleven, in a manner that improves the economic, social and environmental sustainability of the town of Porthleven.

Current Status: Works started in January 2020 and are commencing to plan.

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FUND

One Public Transport System for Cornwall: Growth Deal contribution £1.5m

The project will join up showcase route improvements by adding another showcase route: 27 Truro – St Austell – Bodmin.  Infrastructure upgrades to 53 bus stops, 36 Real Time Passenger Information (RTPI) displays, signal upgrades and Public Transport Information Totems will provide an improved transport link to areas of employment, education and the Royal Cornwall Hospital, connecting Penzance through to Plymouth.

Current Status:  Infrastructure upgrades delivered (bus stops, RTPIs etc).

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FUND

Workspace Newquay: C-Space: Growth Deal contribution: £2m

The C-Space project will fuse business and incubation space with a local produce café and bar, events venue, production studio and retail showcase by partially converting a seaside hotel with stunning views over Towan beach. C-Space is a collaboration between Newquay-based Crowdfunder, the Cornwall Food Foundation, and the Real Ideas Organisation (RIO).

Current Status:  Refurbishment completed and building opened in September 2020.

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FUND

Smart Islands Business Energy Management Systems and Renewable Energy Solutions: Growth Deal contribution: £0.39m

The Project will consist of the delivery of Smart Low Carbon Technologies for business through the installation of solutions such as more efficient heating and ventilation systems, better building insulation, efficient lighting solutions and renewable opportunities such as solar installations.  Participating businesses will purchase solutions and then apply for a Business Grant from the Recipient to reimburse up to 60% of the total capital cost to the business.

Current Status:  Grant programme ongoing until March 2021.

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FUND

Smart Islands Electric Vehicles GO-EV SMART: Growth Deal contribution: £0.61m

The Project will consist of the installation of 25 electric vehicle (EV) bi-directional (Vehicle to Grid) chargers, 10 solar canopies across the Isles of Scilly and the initial deployment of 10 electric vehicles.  The bi-directional charges allow the transfer of energy into and from vehicles for the purposes of electric grid balancing.  The 10 electric vehicles will be available to local residents on a pooled basis and will include a number of different vehicles types.

Current Status:  First chargers and vehicles are in operation but Care Share Scheme on hold due to Covid-19 restrictions.

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FUND

Hall for Cornwall QuayWorks: Growth Deal contribution: £2.246m

The scheme will deliver a Creative Tech Hub (‘Husa’) , co-located within the newly refurbished Hall for Cornwall within the Back Quay area of the building, featuring offices, meeting space and circulation space.

The new workspace will be used to support post graduates, new talent and start-up businesses to create a new cluster within the digital and creative economy.  Additional funding for specialist lighting equipment was agreed in December 2019.

Current Status: Husa Hub expected to open March 2021.

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FUND

Deep Space Communication: Growth Deal contribution: £8.4m

The scheme will see ESA working with Goonhilly Earth Station to upgrade one of its largest antennas to meet the high-end performance and technology requirements needed by ESA, NASA and private space exploration companies for deep-space communications including missions to the Moon and Mars. This will make a significant technical and economic contribution to European efforts in global space exploration and bring jobs and investments to Cornwall.

Current Status: Project started in April 2018, completion expected March 2021.

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FUND

Superfast Broadband Extension: Growth Deal contribution: £1m

The scheme has built on the successful Superfast Cornwall Programme, which took Cornwall and Isles of Scilly from 95% to over 99% fibre broadband connected, cementing it as the best connected rural place in the UK.  Funding has enabled the upgrade of more than 10,000 of the slowest 16,000 sub-15Mbps premises remaining in Cornwall at the end of 2017.  The target was reached in December 2017.

Current Status:  All targets met ahead of time with over 10,000 premises updated, final evaluation is ongoing.

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FUND

Redruth Strategic Employment Growth: Growth Deal contribution: £4.956m

The scheme will provide improved permeability of A3047 between Tolgus Place and Blowinghouse roundabout, including improved walking and cycling facilities and a new gateway junction improvement into Redruth.  Benefits include unlocking of housing and employment land linking with the high quality masterplanned site on the old brewery, and linking with the Kresen Kernow archive and the Krowji arts centre.

Current Status: Work is progressing to plan and construction expected to complete by 2020.

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FUND

Bodmin Callywith: Growth Deal contribution: £1m

The scheme delivers a new roundabout junction at termination of the A30 to allow access to the Callywith Gate development area. Additional benefits are speed reduction on Launceston Road and upgraded walking/Cycling facilities linking residential and employment areas in North Bodmin.

Current Status: Construction completed in December 2017.

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FUND

Truro: Housing and Employment Link: Growth Deal contribution: £1.012m

The scheme has provided seven new high quality single deck vehicles, linking the two Park and Ride sites across the City; this has brought additional capacity on the sustainable transport network supporting strategic housing and employment growth north of the western corridor.

Current Status: Construction completed in June 2015.

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FUND

Cornwall Mainline: Growth for Business: Growth Deal contribution: £2.415m

The scheme has delivered sleeper lounges and changing facilities at Truro and Penzance stations and re-modelling of the First Class Lounge facilities to support the Night Riviera project, resurfacing of Truro station car parking and canopy at Penzance station, as well as installation of WiFi access on the trains and across all Cornish stations.

Current Status: Works completed in July 2018.

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FUND

West Cornwall Transport Interchange: Growth Deal contribution: £5.166m

The scheme has created a new bus rail interchange including improvements to the A30 junction, Parkway Station and refurbished and improved passenger facilities.

Current Status: Construction was completed in Summer 2019.

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FUND

Bus Network Improvements: Growth Deal contribution: £8m

The scheme continues to bring a package of improvements to the bus network, including new vehicles, bus stop improvements and integrated ticketing to facilitate the access to employment, skills and services required by a growing economy.

Current Status: New buses are now in service and timetable improvements expected in 2019.

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FUND

Mainline Signalling: Growth Deal contribution: £3.2m

The scheme has provided local investment in rail infrastructure to allow half hourly mainline services.

The alignment of signalling improvements with Network Rail equipment upgrade ensures that development costs can be shared, offering delivery and efficiency savings.

Current Status: Construction work was completed in December 2018.

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FUND

Train Care: Growth Deal contribution: £6.344m

The scheme has delivered the relocation of heavy maintenance facilities from Old Oak Common to Penzance, including maintenance, re-fuelling and interior cleaning of rolling stock.  The relocation has resulted in new employment and training opportunities and job safeguarding in Cornwall, and provided a facility to maintain additional rolling stock required for half hourly mainline services.

Current Status:  The relocation completed in December 2017.

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FUND

Night Riviera Sleeper Service: Growth Deal contribution: £8.2m

The scheme has brought improvements to the Night Riviera Sleeper Service including increased capacity, upgraded sleeper berths, a lounge area and space for bicycles and surf boards. This is part of a package of projects supported by Government that has also delivered the Train Care Centre for maintenance of the Sleeper Service relocated to Penzance.

Current Status: New service in operation from August 2018.

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