LEP selects Enterprise Zone contender

08.07.11

Cornwall and the Isle of Scilly’s Local Enterprise Partnership (LEP) has begun to take shape, after the announcement of the board members and the subsequent publication of their first key decision as a partnership.

One of the first decisions the board faced was the selection of an Enterprise Zone candidate to put forward to the government. The Government announced in April that it was launching a competition to identify ten new enterprise zones in England. Successful zones have the opportunity to attract investment, developments and jobs through a combination of business rate discounts worth up to £275,000 over five years for each business in the zone, simplified planning procedures and superfast broadband links.

Chris Pomfret, the Chairman of the LEP, and Cornwall Council initially submitted a joint expression of interest at the end of April to ensure that they met the Government’s deadline. To secure Government support, bidders have to show how they can meet a range of criteria, including the creation of economic growth and delivering value for money. Guidance from Government suggests that LEPs should only submit one bid per area. As a result the LEP concluded that the development site around Newquay Cornwall Airport is Cornwall and the Isles of Scilly’s best chance of meeting the Government’s enterprise zone criteria and being chosen as one of areas to win national funding.

“The assessment carried out by the consultants clearly shows that the Newquay Cornwall Airport site, which is owned by one landowner - the Council - and already focuses on the specific area of aeronautical and airport related businesses, represents the best fit with the Enterprise Zone criteria and so this bid would have the best chance of success” said Chris Pomfret. “As over 78 acres (31.7Ha), it is also one of the largest development sites within the South West”.

“The airport also supports the wider economy by supporting Cornwall’s £1.3 billion tourism industry, provides lifeline links to the Isles of Scilly and increases the existing business community’s access to foreign and domestic markets.”