New deal to boost Cornwall economy announced

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The government states that a £23.6 million Deal for Truro will transform Truro in to the county’s modern economic, cultural and green capital whilst creating jobs and new homes.

Prime Minister Boris Johnson said that the offer will breathe new life into Truro’s waterfront by creating new spaces for business, vibrant and green event areas, promenades and new ferry terminals with berthing facilities and pontoons. This helps make Cornwall’s capital into a Connected River City and support its vision to become a contemporary economic, cultural and green capital for its residents and the wider community by 2030.

The investment will even boost its cultural and tourism offer by transforming some of its historic buildings into thriving businesses. For instance, the development of a ‘visit destination’ in Boscawen Park will include a brand new ‘winter garden’ to construct on Truro’s national reputation as a town of bloom.

Green and sustainable travel are in the heart of these plans, connecting key locations and attractions with accessible walking and cycling routes together with a proposed new bridge between areas currently isolated from each other.

Johnson said: “We are determined to gain levels across the entire country, and also the Deal we’re announcing for Truro will help to unleash its tremendous potential. Via a selection of innovative projects including greener transport links and the restoration and renewal of spaces in the city centre, we will be in a position to rejuvenate the neighborhood economy, support businesses, boost connectivity and make new jobs.”

Communities Secretary Robert Jenrick said: “This government is levelling up cities and towns across the country because they build stronger and much more resilient local economies, boosting prosperity and opportunity in our communities, and helping them build back better in the pandemic. This Deal is great news for Truro and also the county. By revitalising the waterfront, breathing new life into unused historic buildings and purchasing new cultural and tourist attractions, it'll make an enormous difference to the local economy and make necessary jobs and houses.”

Mark Duddridge, chair at Cornwall and Isles of Scilly LEP, said: “Obtaining £23.6 million for Truro, as the country starts to emerge from the restrictions of lockdown is an excellent boost for Cornwall and the City. The environmentally sensitive growth and development of the city can create welcome employment and will bring a brand new vibrancy to many regions of Truro. This investment follows on from the redevelopment of the Hall for Cornwall, another project based on the LEP, which together will reinforce Truro’s position like a centre for the creative industries.”

The investment is the 53rd deal to become announced from the Towns Fund and is part of comprehensive action through the government to gain levels opportunity and prosperity across every area of the nation including with the £4.8 billion Levelling Up Fund, the £220 million Community Renewal Fund and the £830 million Future High Streets Fund.