Convergence Investments

Print page

1.1.2007

Pool Innovation Centre (Cornwall Council)

Pool Innovation Centre is intended to provide high quality, flexible managed workspace to start up businesses with potential for growth and high productivity across all sectors. 

The Innovation Centre will be a three storey building with a net lettable floor space of 2,310m². It will consist of 49 offices of five different sizes, six shared meeting rooms and a conference facility. It has been designed to provide flexible accommodation with units ranging in size from 25m² to 90m². To help tenant circulation and networking, all central services including reception, meeting rooms, conference facilities, toilets and kitchens will be shared.

It is estimated that by 2015 the project will have created 130 full time equivalent jobs in the local economy. This includes jobs created within new and growing businesses in the centre and jobs created in the wider economy as Pool Innovation Centre tenants purchase products and services from local suppliers.

The lead partner is Cornwall County Council, with approximately £9 million investment from the European Regional Development Fund Convergence Programme and c. £3 million from the South West Regional Development Agency.

"Providing a space for developing businesses to grow is vitally important for Cornwall in general and Camborne, Pool and Redruth in particular. This area has a strong history of innovation and the Pool Innovation Centre will channel and nurture the community's entrepreneurs. This area was once a driving force of the industrial revolution and there is no reason why it can't be at the forefront of wealth creation again. We are currently in a difficult economic climate but this building is part of demonstrating our confidence and commitment to the future."Andrew Mitchell, Cornwall County Council Economic Portfolio Holder 17.02.09

"We want our fledgling businesses to have the best possible start in life which is why this centre is so important. Along with the two other centres we are planning, it will foster the culture of innovation and entrepreneurship in Cornwall to raise the quality of jobs and unlock business potential. It is part of a much wider package of business support that is being developed to ensure that Cornish businesses can thrive and prosper, and that's especially important in the current economic climate." Theo Leijser, Area Director - Cornwall and the Isles of Scilly, South West Regional Development Agency 17.02.09

“We are thrilled by the success of the PIC and the way it has surpassed expectations. The number of exciting new companies taking up residence at the facility is testament to the excellent work of the University of Plymouth and the appetite for such high quality business incubation space in Cornwall.” Carolyn Rule, Cornwall Council Cabinet Member for the Economy and Regeneration 24.01.11

Related Links

24.01.11 Pool Innovation Centre shatters forecasts with early success
20.12.10 Sustained success sees TRAC on the move.
08.03.10 Cornwall Council strikes deal to run Pool Innovation Centre

For Further Information

BREEAM
Pool Innovation Centre
CPR

CPR Strategic Investment Framework