Discover how this new approach to investment will truly empower local leaders and communities, so they can make a real difference on the ground where it’s needed the most.

As part of the UK Government’s Levelling Up agenda, Cornwall and Isles of Scilly have been allocated £137 million for local investment through the Shared Prosperity Fund. This new approach to investment will truly empower local leaders and communities, so they can make a real difference on the ground where it’s needed the most.

All areas of the UK will receive a portion of the SPF via a funding formula. This money will then go straight to local places right across England, Scotland, Wales and Northern Ireland to invest in three priorities. The primary goal of the SPF is to build pride in place and increase life chances across the UK by:

  • Boosting productivity, pay, jobs and living standards by growing the private sector
  • Spreading opportunities and improve public services
  • Restoring a sense of community, local pride and belonging
  • Empowering local leaders and communities.

Our Three Investment Priorities

Community and place

To us, ‘Good Growth’ means moving towards a net zero economy where jobs pay at least the Real Living Wage and strong communities allow everyone to start well, live well and age well.

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Support for local businesses

To help unlock economic prosperity in every sector our Good Growth model will improve local opportunities by investing in infrastructure, industry and training.

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People and skills

To bring our Good Growth ambitions to life we need to significantly shift our skills system. Not only will this improve productivity and grow the economy, it will give people the career and salary progression opportunities they should be able to access.

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What the Fund means for us

Here in Cornwall and the Isles of Scilly we’ve been allocated a total of £137m to spend within the three investment priorities by March 2025.

With a focus on green and inclusive growth, we will use our portion of the SPF to level up opportunities for locals and provide access to new jobs and training programmes through our Good Growth Investment Plan.

Continuing to work towards our vision of making CIoS a carbon neutral place by 2030 where everyone can start well, live well and age well, the Good Growth Plan will:

  • Nurture local business and innovation characterised by their growing social and environmental responsibility
  • Facilitate expansion and increased investment in our green economy and high potential sectors
  • Empower vibrant communities and a better way of life by creating skills and employment opportunities that will enable everyone to live longer, healthier lives and earn real living wages in careers of their choice.

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Our Good Growth Approach

Our aim is to engage communities, nurture local talent and create sustainable jobs, our cultural events and talent programmes aim to generate more permanent and year-round employment.

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If you or your organisation want to apply for the UK Shared Prosperity Fund, we’re now accepting
proposals for a range of investment programmes.

Find out more & apply

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