£30m Kernow Industrial Growth Fund launched to boost Cornwall's key sectors

Cornwall has unveiled the £30 million Kernow Industrial Growth Fund, designed to stimulate investment and support businesses in sectors critical to the region's economic growth, including critical minerals, renewable energy, space, and marine innovation.

The fund, commissioned by Cornwall Council and funded by the central Government, aims to unlock £70 million in additional investment, reinforcing Cornwall's status as a UK industrial hub.

Focusing on impactful proposals, the Kernow Industrial Growth Fund targets the creation of approximately 200 well-paid jobs by strengthening supply chains and enhancing Cornwall's competitiveness on both national and global platforms.

Councillor Leigh Frost, Leader of Cornwall Council, expressed pride in launching the fund, stating it's built for Cornwall's industrial strengths.

He said, "This is about backing ambition. We want to work with organisations who are ready to grow, invest, and help shape Cornwall’s future economy."

Cllr Tim Dwelly highlights the fund's unique investment-led approach compared to traditional programmes, concentrating on unlocking larger investments and scaling up opportunities.

Lord John Hutton, Chair of the Cornwall and Isles of Scilly Economic Forum, emphasised Cornwall's leadership potential in industries significant to the UK's future.

The fund seeks projects with ambitious business plans that transcend individual businesses, fostering sectoral growth.

Organisations interested in accessing the fund are encouraged to come forward, as the initiative looks to turn Cornwall's industrial opportunity into tangible action.

First for all the latest news from across the UK every hour on Hits Radio on DAB, at hitsradio.co.uk and on the Rayo app.