Convergence Programmes launch marks start of £445 million investment in Cornwall and Isles of Scilly

Wed 30th Jan

Today (January 30th) marks the start of the two Convergence programmes totalling almost £445 million of European investment for Cornwall and the Isles of Scilly.

The ambitions for these economic investment programmes (European Regional Development Fund and European Social Fund) are to build on the Objective One programme success in regenerating the economy of Cornwall and the Isles of Scilly.

The programmes’ official launch was timed to coincide with the first meeting of the joint ERDF/ESF Programme Monitoring Committee which was due to formally agree investment procedures for the European Regional Development Fund.

The event was also attended by Brussels-based Jonathan Denness, Deputy Head of Unit for the UK at the European Commission’s DG Regional Policy.

Of the two programmes the European Regional Development Fund (ERDF) Convergence Programme will be worth about £311 million – before any of the required match funding (which can come from a mix of local, regional and national public organisations). The managing agent for this programme will be the South West Regional Development Agency (RDA).

Phil McVey, Director of European Programmes for the South West RDA, said: “The South West RDA is proud to be working with Cornwall and the Isles of Scilly on this ambitious new European programme of investment.

“We are looking forward to building on the legacy of Objective One and making a further step-change in the economic prospects of the area over the next seven years”

Andrew Mitchell, Cornwall County Council Economy Portfolio Holder, said: “The challenge is clear – Convergence is likely to be the last substantive European investment in Cornwall and the Isles of Scilly and therefore it must be targeted and focussed to make sure we make those investments that will make the long term, transformational difference to our economy.”

Carleen Kelemen, Director of the Objective One Partnership, added: “Convergence will be one of the most ambitious and challenging investment opportunities for Cornwall and the Isles of Scilly. We must work together to keep our eyes on the long term ambitions of a stronger, more diverse economy with nationally and internationally successful businesses.”

Following the beginning of the ERDF and ESF Convergence programmes the Rural Development Programme for England (RDPE) and South West Competitiveness programmes are due to be launched in Exeter on February 4th. The RDPE contains £55 million ring fenced for the Convergence area of Cornwall and the Isles of Scilly.

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