Cornwall and the Isles of Scilly Economic Prosperity Board - 29 January 2026

The Economic Prosperity Board opened with the Chairman reviewing the Good Growth Shared Prosperity Fund (SPF). The £186 million programme, administered by Cornwall Council since 2022, has funded more than 900 projects across Cornwall and the Isles of Scilly, creating an estimated 1,765 new jobs, safeguarding 714 existing jobs and delivering over 30,000 training opportunities. The fund is also projected to attract an additional £83 million of investment, refurbish 142 community hubs, create green space equivalent to 60 football pitches and cut greenhouse‑gas emissions to the level of powering 593,000 UK homes. A recent social‑media and bus‑stop advertising campaign generated 162,392 engagements, with the highest interaction rate in South‑East Cornwall, and highlighted facilities such as Tregony Village Hall and Maker Heights on the Rame Peninsula. The Good Growth Team was subsequently awarded the Institute of Economic Development’s “Most Innovative Project of the Year” for embedding clean and inclusive growth in each funded project.

The Board then examined the programme’s performance report presented by the Good Growth Delivery Facilitation Lead. Financially, 38 % of the total budget (£18.1 million) had been spent to date, with forecasts indicating full spend by 31 March 2026, contingent on the government’s optional extension to 30 September 2026. While overall progress across the delegated programmes was positive, a few schemes were slightly behind schedule and corrective actions, including potential linkage to clean‑energy and decarbonisation funding, were being explored. Geographic distribution of approved projects was shown to be broadly balanced across the county and the islands. The Board noted that the final Economic Prosperity Board meeting was originally planned for April 2026, but the possible programme extension would require additional meetings through to October 2026 and a later decision on formal closure.

In the communications update, the Board received an animation titled “Follow the Funding” that summarises SPF benefits for residents and businesses, and a targeted social‑media campaign that achieved 20,000 video views in South‑East Cornwall and 9,700 views in North Cornwall for the Bude “Cleaner Seas” project. An SPF Showcase event was scheduled for 11 February 2026 at the Council’s Long Gallery in Truro, where projects from Community & Place, Business & Economy and Skills will present their outcomes to members, MPs, the Advisory Panel and other stakeholders. The event coincides with a Council Cabinet meeting, which is expected to increase attendance.

The Board resolved that the minutes of the 16 October 2025 meeting were correctly recorded and that press and public were to be excluded from consideration of confidential business, in accordance with the Local Government Act 1972. A confidential Part 2 report was presented by the Good Growth Fund Manager, seeking approval for specific funding decisions. The Board approved, for Direct Delivery GG0003, up to £4,495,551 for Application GG003_0001, and delegated authority to the Head of Economy, in consultation with the Section 151 Officer, to negotiate contract terms and enter into the funding agreement within the approved maximum.