21.12.05
County Council welcomes indication of further European Investment in Cornwall after Objective One

Cornwall County Council has welcomed indications that the current £350 million Objective One Programme for Cornwall and the Isles of Scilly will be replaced with a new EU regeneration programme worth around a third more.

The news came as a result of a deal reached by the Prime Minister in Brussels last week, although it has yet to be agreed by the European Parliament.

Alun Michael, Minister of State for Industry and the Regions, today announced to Parliament that the deal on the EU budget agreed by member states last week is likely to give Cornwall and the Isles of Scilly a new 'Convergence' programme which could be able to start in early 2007.

Cornwall and Scilly's Objective One programme is due to be completed at the end of 2008. Partners across Cornwall and the Isles of Scilly have already started to consider the priorities for a new programme, with a revision of the economic strategy 'Cornwall Strategy and Action' as its blueprint.

The Objective One Programme for Cornwall and the Isles of Scilly is worth £350 million of EU grant at current exchange rates, and has seen major investment in projects including the Combined Universities in Cornwall, the upgrading of the main railway line between Truro and St. Austell, the most successful roll-out of Broadband internet access in a rural area, development of the Eden brand name, and building new technology and business parks.

Cornwall County Council's Executive Member for the Economy, Andrew Mitchell, says: "This is excellent news. Confirmation of this new programme means that we can get on with the work we need to do for Cornwall. The successes of the Objective One programme together with the strategy being developed by the Cornwall Economic Forum give us the direction to continue our journey to greater prosperity, for all in Cornwall to have a share of."

For further information please contact Cornwall County Council on 01872 322000.

Editor's notes:

Clare Morgan
Media Relations Manager
Objective One Partnership Office
Castle House
Pydar Street
Truro TR1 2UD
Mobile: 07973 813647
Telephone: 01872 223439

cmorgan@cornwall.gov.uk

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