Prime Minister announces £65m deals for St Ives, Penzance and Camborne to leave 'G7 legacy'
The cash will go on everything from a low carbon transport system to a new trail and major refurbs of historic buildings
Last updated 9th Jun 2021
The Prime Minister has announced multi-million pound deals for three Cornish towns, to create a 'G7 legacy' for Cornwall.
£65 million is being pumped into Camborne, Penzance and St Ives.
The latter area will host the G7 Summit of world leaders in just a few days time and is set to benefit from a £20m cash injection.
That will cover projects like the new St Ives to St Erth trail, fund a low carbon transport system and do-up some of the town's historic buildings.
The old bus station in Camborne's being transformed as part of its funding, while Penzance will get a new public leisure facility.
Other money will go towards sustaining those businesses worst-hit by the coronavirus pandemic and to create more jobs through new business hubs.
The investment also includes measures to help Cornwall become the first 'net zero' region in the UK, including restoring thousands of hectares of land to reduce carbon emissions, establishing Cornwall as a pilot area for a new e-bike support scheme and a new satellite to monitor the local environment that will be launched from Spaceport Cornwall.
What will the money pay for in Camborne, Penzance and St Ives?
The Camborne Town deal is worth £23.7m and includes funding for the acquisition and refurbishment of Camborne bus station to create the 'Buzz Station' complex, the creation of 'Fibre Park' tech hub and the renocation of Camborne Rugby Club's facilities.
The Penzance Town Deal is worth £21.5m and includes funding for the modernisation of Penzance Harbour, a new marine training facility at Newlyn Harbour, the development of a new public leisure facility and the renovation of Morrab Gardeners' House, Penlee House & Coach House and Newlyn Art Gallery & the Exchange.
The St Ives' Town Deal is worth £19.9m and includes funding for a new St Ives to St Erth trail, the development of a low carbon transport system in St Ives, the refurbishment of the historic Palais de Danse building, St Ives Rugby Club the St Ives Theatre and the St Ives Guildhall.
The government, in partnership with Natural England and Cornwall Wildlife Trust, is also launching a major restoration programme across 21,000 hectares of land, including wetlands.
Ministers say it will take an estimated 440,000 tonnes of carbon dioxide out of the atmosphere, boosting Cornwall's efforts to become the first 'net zero' region in the UK.
To help Cornwall reach 'net zero' faster, a package of measures to help individuals and companies take steps to reduce their carbon footprint has also been announced. This includes:
- Up to £1 million of innovation funding earmarked for businesses in Cornwall to support their development of technologies, products and processes in energy efficiency, power generation and energy storage.
- Establishing Cornwall as a pilot area for a new e-bike support scheme - e-bikes are the only electric vehicles not to receive grants at present.
- Subject to full business case approval Cornwall will also receive up to £150k to design and build 'Kernosat', a small satellite which will be used to monitor the local environment, with the potential for it to be launched from a UK spaceport next year.
Boris Johnson said: "As the eyes of the world look to Cornwall this week, not only will they see an area of outstanding beauty, they will witness a region that is innovative, exciting and looking firmly towards a bright future.
"The exciting projects we have announced today are a fitting legacy for a region playing host to some of the most important diplomatic talks in a generation.
"As the world builds back better from coronavirus, Cornwall will lead the way".
Prime Minister, Boris Johnson
The Prime Minister, President Biden and leaders from the other G7 countries will meet for the summit at Carbis Bay from 11th - 13th June.