The £40m Cornwall and Isles of Scilly Investment Fund is financed by the European Regional Development Fund and the United Kingdom government and is a collaboration between the British Business Bank and the Local Enterprise Partnership.
The project is receiving up to £32 million of funding from the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020.
The Department for Communities and Local Government (and in London the intermediate body Greater London Authority) is the Managing Authority for European Regional Development Fund.
Established by the European Union, the European Regional Development Fund helps local areas stimulate their economic development by investing in projects which will support innovation, businesses, create jobs and local community regenerations.
Department for Business, Energy & Industrial Strategy
The Department for Business, Energy and Industrial Strategy brings together the responsibilities for business, industrial strategy, science, innovation, energy, and climate change. The Department is responsible for developing and delivering the Government’s vision for an ambitious industrial strategy, and continuing to ensure that the UK remains at the leading edge of science, research and innovation. The Department leads the Government’s relationship with business, and is responsible for improving corporate governance and securing better outcomes for consumers. We also make sure that the UK has secure energy supplies that are reliable, affordable and clean and take action to tackle climate change, working in partnership with the business community.