Investment themes
Developing our People
People are at the core of economic regeneration. It is important that people are helped to realise their full potential whether in employment or looking for work.
What?
It is vital that people who are not employed -- of working age, without job opportunities, and claiming benefits - are given the right support, in the right place, at the right time to help them into training and work.
The investments target groups of people who traditionally find it more difficult to access work opportunities and who often need very specific support. These groups of people include people with physical or learning disabilities, single unemployed parents, disaffected or disadvantaged young people and unemployed people.
Why?
Higher levels of people participating in the workforce will increase the productivity of the economy as well as increase the chances in life of those entering the labour market.
What?
For those in work these investments provide training, retraining and up-skilling to meet the needs of businesses now and in the future.
Why?
To be competitive and up to date, it is essential that employees and businesses have access to the relevant training to keep skills current. Without properly trained employees, businesses cannot be as competitive as they might be. Higher levels of vocational skills also give the individual greater opportunities within the workforce.
Strengthening Business
The accelerated growth of businesses -- in particular high value businesses -- which are better able to pay higher wages will strengthen the commercial value of the economy.
What?
These investments will provide support, specialist advice and capital mainly for small and medium sized businesses. This includes focussed support for environmental goods and services businesses.
Strengthening Business investments will include a number of gateway funds that provide straightforward access to tailored services to individual small and medium businesses to assist them with development and growth.
Why?
Successful small and medium sized businesses are essential to the development of the economy of Cornwall and the Isles of Scilly. The development of more higher value businesses with growth potential will support the economy to grow and diversify, pay higher wages and be more resilient in the long-term.
What?
The development of quality modern workspace across Cornwall and the Isles of Scilly for businesses wishing to grow and relocate. And targeted town regeneration, including both new build and the sympathetic conversion or redundant historic buildings, for use by new and expanding businesses.
Why?
Providing modern, suitable workspace and associated facilities is essential to establishing an environment in which business can be created and strengthened long after Convergence. This workspace needs to be equipped for 21st Century business – including high speed internet access, environmentally smart features that reduce running costs and providing access for people of all abilities.
Investing in our Future
Higher education opens up opportunities for the individual and can also produce business development and innovation and help build the business base of Cornwall and the Isles of Scilly.
What?
These investments will include those developing the Higher Education base of Cornwall and the Isles of Scilly and activities that support the development of much stronger links between Higher Education and business. This includes business orientated research and innovation and business incubation.
Why?
University level provision in Cornwall and its links with business encourages -- innovation and knowledge transfer between business and academia; encourages graduates to start their own businesses; attracts new and different types of business; and increases the potential for economic regeneration in Cornwall and the Isles of Scilly.
Making Connections
An economy increasingly connected, particularly at a global scale, through trade, technology and knowledge networks is better able to compete.
What?
Digital investments will deliver both the roll out of improved broadband technology and, as importantly, will support this with business advice and training to maximise its use.
Why?
Modern digital infrastructure can be used to ensure global connections and bring about long term improvements in business competitiveness. The key for Cornwall and the Isles of Scilly is access to 'future proofed' IT infrastructure plus business support to promote e-business as well as training to maximise ICT use for business.
What?
Alongside improved digital infrastructure the ERDF Convergence Programme provides the opportunity for very limited investment in transport infrastructure.
Why?
Focussed transport investment can unlock specific economic opportunities.
