6 April 2010
New Era for Economic Development in Cornwall
1 April marked the beginning of an exciting new era for economic development in Cornwall with the integration of the Camborne Pool Redruth (CPR) Urban Regeneration Company with Cornwall Development Company (CDC).
CPR Regeneration is the urban regeneration company set up to bring prosperity back to the Camborne, Pool and Redruth area, with CDC being Cornwall Council's arm's-length economic development organisation.
From 1 April CPR Regeneration has become a subsidiary company of CDC bringing a number of benefits for both Camborne, Pool and Redruth, and for Cornwall as a whole. CPR Regeneration will continue to focus on all its programmes of work currently underway in the area.
The integration follows a comprehensive review of the Council's approach to economic development carried out by the Council in partnership with the Homes and Communities Agency and the South West Regional Development Agency.
The aim of the review was to ensure that Cornwall makes the most of the opportunities presented by the Convergence Programme and builds the capacity and skills to deliver the economic transformation of Cornwall. The review concluded that the creation of a single company with the remit and resources to deliver a range of economic development projects and programmes would have significant benefits for the economic regeneration of Cornwall.
Martin Brooks, CDC Chairman, said: "The integration of these two successful organisations enables us to bring together a wide range of skills and expertise to deliver economic development to the whole of Cornwall. We have ambitious plans for the transformation of the Cornish economy and this integration will strengthen our ability to deliver them."
David Brewer, CPR Regeneration Chairman, said: "CPR Regeneration has achieved much in the past seven years. This integration gives us the opportunity to ensure the learning and expertise gained from this work can benefit the whole of Cornwall without losing focus on the delivery of key economic development projects in the Camborne, Pool, Redruth area.
"The economic development and regeneration of the area can only be sustainable in the context of a prosperous Cornwall. This proposal will allow Cornwall to benefit from the lessons we have learned here, and bring in new ideas and expertise to help integrate the regeneration of this area into the wider economy of Cornwall."
Carolyn Rule, Cornwall Council's cabinet member for Economy and Regeneration and a board member of both CDC and CPR Regeneration, said: "As a council we are always looking at how we can provide services in the most joined up and efficient way possible.
"Bringing together the skills and experience of both organisations enables us to maximise the opportunities available through Convergence at the same time as building the new, vibrant, low-carbon economy of the future."
