A £4.3m investment has been secured from the European Regional Development Fund to build the first phase of office and light industrial buildings on the Aerohub Business Park. This will be at the gateway to the Enterprise Zone at Cornwall Airport Newquay. This project will address the lack of high quality employment space that is a real barrier to growth in Cornwall and the Isles of Scilly.
The Enterprise Zone, Aerohub, is an 850 acre site at Cornwall Airport Newquay. The site is a focus for future flight technologies and aims to become a future UK Spaceport. The Aerohub Business Park falls within the Zone and is a high profile, constraint free site and this development will act as a catalyst for future jobs and investments.
The funding for this first phase of the project will feature a three storey, landmark office building creating a total 1,005m² of workspace that will offer up to three individual spaces to let on each floor. In addition there will be a further eight business/light industrial units totalling 1,904m².
The new Business Park buildings will be built to BREEAM Excellent Standards, meaning the buildings will be constructed to the highest environmental architectural standards. The project is expected to start on site this year and be completed in early 2019. It will deliver well paid and highly skilled local employment which will strengthen the economy in Cornwall.
The units being built will be targeted at occupiers in the “Smart Specialisation” sectors, which include; Space and Aerospace, Marine and renewable Energy Technologies, Agri-Tech, E-Health and Digital, which all have potential for high growth.
This £4.3m ERDF investment at the Business Park is part of the Cornwall and Isles of Scilly Growth Programme, the current round of European funding. This was matched by £3.1m of investment from Cornwall Council. This follows on from the Aerohub Business Park roads and services project which was funded through the Convergence Programme.
Julian German, Cornwall Council’s Portfolio Holder for Economy said, “Securing the funding for the Aerohub Business Park is amazing news. It builds on the previous investment in the site and will create the much needed employment space for Cornwall’s businesses. This in turn creates more and better paid jobs for people living in the area. The proximity to Cornwall Airport Newquay will make it particularly attractive to businesses that require access to our growing Airport route network.”
Miles Carden, Aerohub Enterprise Zone Manager said, “This development will continue to support the growth of the Aerohub site and add to the 327 jobs that have been created since 2012. We have seen incredible interest in the Business Park and the development offers a fantastic opportunity to continue to attract inward investment and growth. ”
Any interest or enquiries about the new units or development plots on the Business Park can be directed to email@example.com.
Notes to Editors
European Regional Development Fund
The project is receiving up to £4,385,818 of funding from the England European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020. The Department for Communities and Local Government is the Managing Authority for ERDF. Established by the European Union ERDF funds help local areas stimulate their economic development by investing in projects which will support innovation, businesses, create jobs and local community regenerations. For more information visit https://www.gov.uk/european-growth-funding
Aerial impression of Cornwall Airport Newquay and the Business Park
For further information please contact Alex Ledbrooke, Engagement Officer, Cornwall and Isles of Scilly ITI Support Team (European Structural and Investment Funds)
Mobile – 07854 039960, Tel – 01872 322693, Email – firstname.lastname@example.org
Twitter – @GrowthProgramme
Economic Development and Culture
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