Enterprise Zone Growth Fund
The Enterprise Zone (EZ) status means that Cornwall Council keeps all business rates collected at the sites and re-invests this income into business growth. The EZ Growth Fund is limited to the amount of business rates growth generated and the amount the programme commits in applications.
There is NO guarantee of funding which is dependent on availability and agreement by Cornwall Council.
Background to Enterprise Zones
Cornwall was designated EZ status for Cornwall Airport Newquay in 2012 and expanded to include four other sites in 2017.
- Cornwall Airport Newquay and Aerohub Business Park
- Goonhilly Earth Station
- Falmouth Docks
- Hayle Marine Renewables Business Park and associated land
- Tolvaddon Business Park
View Enterprise Zone plans of the sites
Who can apply?
Businesses located on the Enterprise Zones, or planning to move there, can apply for grant or loan funding.
Types of projects/activities that are funded
We are looking to fund exciting and innovative projects that will enhance business productivity and growth, such as:
- unlock critical infrastructure,
- target priority sectors (in particular the Good Growth distinctive sectors),
- increase trade and investment,
- support skills and
- address the climate emergency
Projects must demonstrate that they align with the aims of the EZ Investment Policy and Cornwall’s Good Growth Plan to be considered for funding.
The EZ Growth Fund no longer offers the benefit in the form of business rate relief.
All applications for grant will need to:
- demonstrate the need for the use of public funds
- explain the benefits the funding will achieve and why it is consistent with Cornwall’s Good Growth Plan
How to apply
There is a two-stage application process:
- If your business is eligible to apply, please download and submit an Expression of Interest (EOI) form to enterprisezones@cornwall.gov.uk.
- Projects that are approved at EOI stage will be invited to submit a full application for funding. Comprehensive guidance will be provided. Applicants requesting in excess of £500,000 will be required to provide a full business case.
What happens next?
All applications are assessed against the following criteria:
- Strategic alignment (with the Good Growth Plan and Investment Policy)
- Deliverability
- Value for Money
- Social Value: Equality, Inclusion and Diversity and Environment
If approved, grants will be paid following receipt of a valid claim and in arrears. Recipients must comply with regular reporting requirements.
Contact us
Please contact us with any queries regarding the EZ Growth Fund via email: enterprisezones@cornwall.gov.uk.
Disclaimer
The Council is entitled to act at its total discretion when making a decision on whether to offer a grant following an application for funding.