New deal to boost Cornwall economy announced

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

Prime Minister Boris Johnson said that the Deal 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 will help make Cornwall’s capital into a Connected River City and support its vision of becoming a modern economic, cultural and green capital for its residents and the wider community by 2030.

The investment will also boost its cultural and tourism offer by transforming some of its historic buildings into thriving businesses. For example, the creation of a ‘go to destination’ in Boscawen Park will include a new ‘winter garden’ to build on Truro’s national reputation as a city of bloom.

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

Johnson said: “We are determined to level up across the entire country, and the Deal we’re announcing for Truro will help to unleash its tremendous potential. Through a range of innovative projects including greener transport links and the restoration and renewal of spaces in the city centre, we will be able to rejuvenate the local economy, support businesses, boost connectivity and create new jobs.”

Communities Secretary Robert Jenrick said: “This government is levelling up towns and cities across the country by building stronger and more resilient local economies, boosting prosperity and opportunity in our communities, and helping them build back better from the pandemic. This Deal is great news for Truro and the county. By revitalising the waterfront, breathing new life into unused historic buildings and investing in new cultural and tourist attractions, it will make a huge difference to the local economy and create much needed jobs and homes.”

Mark Duddridge, chair at Cornwall and Isles of Scilly LEP, said: “The award of £23.6 million for Truro, as the country begins to emerge from the restrictions of lockdown is a fantastic boost for Cornwall and the City. The environmentally sensitive development of the town will create welcome employment and will bring a new vibrancy to many areas of Truro. This investment follows on from the redevelopment of the Hall for Cornwall, another project supported by the LEP, which together will reinforce Truro’s position as a centre for our creative industries.”

The investment is the 53rd deal to be announced from the Towns Fund and is part of comprehensive action by the government to level up opportunity and prosperity across all areas of the country including through the £4.8 billion Levelling Up Fund, the £220 million Community Renewal Fund and the £830 million Future High Streets Fund.