FUNDING ONLY AVAILABLE IN CORNWALL
It involves allocating EU funding to employment space projects that will help achieve outputs linked to the objectives and priorities under Cornwall’s Strategic Investment Frameworks. Projects such as serviced employment land, offices and industrial schemes can access funding of between 30% and 50% of building costs, depending on the size of the applicant. Eligible costs include building related plant and equipment, fit out, provision of services, landscaping, and the extra cost of meeting the required environmental standards. Other eligible costs include professional fees, site investigation and preparation, and planning obligations.
Projects are appraised against a range of criteria including regeneration impact, deliverability, sustainability, value for money, brownfield land remediated, level of new or refurbished floorspace, increase in GVA (Gross Value Added), and jobs created and safeguarded.
In effect, the Fund is designed to fill the gap between the build cost and the actual market value, thus making sure the projects are commercially viable.
The scheme is part of the Cornwall and Isles of Scilly Convergence Programme, funded through the European Regional Development Fund (ERDF).
Applications will be considered for endorsement up to 31st March 2013, with all expenditure completed two years thereafter.
Find out more
For further information, visit www.convergencecornwall.com or contact the Communities Infrastructure Managers at CLG:
Ian Whale (0303 4446550) ian.whale@communities.gsi.gov.uk
John Burton (0303 4446549) john.burton1@communities.gsi.gov.uk