The theme of August’s Falmouth First Friday breakfast was the proposed Strategic Investment Framework for Falmouth and Penryn. Within Priority 4 of the Convergence Fund there is the potential to draw down £10m to unlock the economic potential of place of the two towns. In order to do this though, a Strategic Investment Framework must be written.
Work initially began on this eighteen months ago and was led by Carrick District Council. It has now been taken on by Cornwall Development Company who aims to have an initial draft in place by the end of September. A small group of people has been working hard to gather ideas and to put forward suggestions for what the priority projects would be. These are being fed back to Cornwall Development Company. Convergence funding needs to be matched by other funding which is likely to come from bodies such as SWRDA, Cornwall Council and the private sector. There may also be the potential to access lottery money once the Olympics have taken place in 2012. Priority projects will be those creating high quality employment, sustainable transport schemes and public realm improvements.
With other projects like the extension to the University already underway, there is a lot to look forward to in Falmouth and Penryn over the next few years.