Major regeneration scheme in Cornwall secures funding
Thousands of jobs and homes are expected to be created in Cornwall over the next 20 years after the county council secured £16 million of funding.
The Government money goes towards a £27 million scheme intended to create more thna 5,500 new jobs and 7,500 homes in the Camborne, Pool and Redruth (CPR) area. The funding will be used to construct a new East West link road from Dolcoath to Dudnance Lane across the Red River Valley and from Dudnance Lane to Wilson Way. This road will enable vehicles travelling east-west to re-route away from the East Hill junction so reducing congestion and improving air quality along the existing A3047.
The project has benefited by financial support towards the development costs from the European Regional Development Fund under the Convergence Programme, as part of a package of schemes in the CPR area that have been awarded more than £1 million to date.
Graeme Hicks, Cornwall Council’s portfolio holder for highways and transportation said “I am delighted that the Government has given their support to this scheme. We have worked hard in competing against 44 other schemes nationally and the decision today is good news for the future of the Camborne Pool Redruth area.”
Chris Ridgers, the council’s portfolio holder for economy and regeneration added: “This further investment in the CPR area will build upon the recent successes of the Barncoose Link Road and the East Hill junction improvement” added “It will also help unlock the employment potential of key development sites by providing access to key employment and housing land."
Carleen Kelemen, director of the Convergence Partnership Office for Cornwall and the Isles of Scilly, said: “The complexities of the historic economic decline in the CPR area cannot be underestimated. This significant infrastructure Convergence investment will realise the potential of existing and future regeneration activities.”
George Eustice MP said: “I am delighted that the Minister has given his backing to the proposal which will lead to a significant boost to the local economy for many years to come. The project is a perfect example of investment in infrastructure improvement to open the door to major private sector investment and there is already a high level of private sector interest with proposals that can come forward with this new road and lead to economic growth.”
Scheme Orders were published in September 2011 and a public inquiry is likely to be held around the middle of next year. Subject to a positive outcome of the inquiry, construction of the scheme could begin in late 2012.
