Finance

Convergence

In 1999, Cornwall and the Isles of Scilly was classified as an Objective One region and given access to £350m (€498m) support from the European Union. This funding allowed Cornwall to invest in a new and lasting prosperity and to revive a struggling economy. Six years later, the area has been awarded European Union 'Convergence status' over the period 2007-2013. Convergence consists of two funds: c£347m from the European Regional Development Fund (ERDF) and c£153m from the European Social Fund (ESF). This will be matched by UK public money from local, regional, and national sources giving a total value of c£712m.

Convergence is investing in activities that will have a long-term impact on the economy of Cornwall and the Isles of Scilly. Part of this investment includes providing funding and support services to business located in the county.

To find out more about the Funding available to businesses in Cornwall as well as the Business Support Services the county offers, please have a look at the following pages or see Convergence Cornwall.