Transformative plans to regenerate four town centres to become a reality

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Trelowarren Street in Camborne - photo shows cars and people in the high street

Ambitious regeneration projects to boost the local economy and opportunities for residents in Camborne, Penzance, St Ives and Truro are set to become a reality following successful bids to the Government’s Town Deal fund. 

It paves the way for plans developed by local communities to bring about lasting change – projects to transform high streets, improve transport and digital connectivity, and develop skills and culture. 

The four areas were invited by the Government in September 2019 to each form a Town Deal board to bid for up to £25m each from the Town Deal fund. Working with Cornwall Council and the Cornwall Local Enterprise Partnership, the boards developed ambitious, yet realistic Town Investment Plans to support their bids.  

The Town Deal boards will receive: 

  • Camborne - £23.7m 
  • Penzance - £21.5m 
  • St Ives - £19.9m 
  • Truro - £23.6m (funding announced in April 2021) 

As announced last month, Penzance will also receive a further £10.4m from the Government’s Future High Streets Fund to regenerate the high street, by bringing back vacant retail units into use, providing town-wide WiFi and delivering new homes and workspace. 

Cornwall Council cabinet portfolio holder for the economy Stephen Rushworth said: “This is fantastic news and recognition of the determination and hard work of these local communities to secure a more prosperous future for their residents and businesses.  

“Their visions are a step closer to becoming a reality and I look forward to seeing how they progress.” 

Martin Tucker, Chair of Penzance Town Deal Board said, “I am delighted with the news that we have been awarded £21.5m to support a range of capital projects that will develop opportunities to stimulate the local economies in both Penzance and Newlyn. The projects approved will help to regenerate areas of the town and provide centres for the development of training and skills to meet the needs of some key sectors within West Cornwall and provide future employment opportunities.  

“Combined with the recent announcement of the High Street Fund these are very exciting times for the town and the Board will now commit itself to working with Cornwall Council and other organisations in delivering the various projects to the highest of standards.” 

Val Dalley, vice chair and acting chair of Camborne Town Deal Board said: “Absolutely fantastic news of £23.7 million for Camborne. It is a real opportunity for the town and community, bringing back a sense of pride in where we live. There is a focus on young people, who are the future of our town with opportunities within the various projects to raise their aspirations in what they can achieve. I am really looking forward to the plans being a springboard to the town's regeneration. 

“Members of the board can be justly proud, after 18 months of hard work and many, many meetings to get to this point and we look forward to bringing all of these great projects to fruition.” 

Sarah Stevens, chair of St Ives Town Deal Board said: “What fantastic news for St Ives! Thank you to everyone that helped make this happen especially the local residents, town and Cornwall Council and MP Derek Thomas. A special thanks to St Ives Town Deal directors who have volunteered their time and shown passion and commitment which has made this possible. When we stand together we are stronger. 

“More details about specific project and conditions still to come. This is just the start of great things. Let’s celebrate and bask in the glory. Onwards and upwards.” 

Carole Theobald, chair of Truro Towns Fund Board, said: “What a wonderful news. Congratulations to everyone who helped put together the Town Investment Plans for Camborne, St Ives and Penzance. All the hard work put in in the last year from members our community, the volunteers on the Town Boards, the Town Council and Cornwall Council is being rewarded through this successful outcome.  

“The £89 million from the Town Funds that has been secured will enable the development of the ambitious plans put forward for the transformation of our town centres, paving the way to a very exciting future for Cornwall.” 

West Cornwall and St Ives MP, Derek Thomas said: “This latest Town Deal funding announcement will enable a massive transformation of both Penzance and St Ives town centres, boost economic growth and help speed up the recovery of our local businesses. 

“It has been an honour to work with the community alongside the Town Boards to develop the Town Investment Plans and it’s fantastic to see that the Government is backing our vision for both St Ives and Penzance. The projects that have been proposed will help grow our economy, create skilled jobs for residents and expand our offer in areas of digital technology, creative industries and the marine sector. Combined with the £10.4m High Street Fund announced for Penzance earlier this year, the additional £41 million secured through the Town Funds will help realise those ambitious and transformational plans set out for both Penzance and St Ives.” 

Camborne and Redruth MP, George Eustice, said: “The success of Camborne’s Towns Fund Bid is a significant step forward in the regeneration of the town. Since I was first elected, I always made clear that economic regeneration in Camborne, Redruth and Hayle was my number one priority. This £23.7 million represents an exciting opportunity in the revitalisation of Camborne.” 

Member of Parliament for Truro, Cherilyn Mackrory said: “I am delighted to have worked with the Truro Town Team and partners, including Cornwall Council, to bring this successful bid forward, and its success is another key legacy of Cornwall’s hosting of the G7.” 

“Along with the other fantastic announcements for Cornwall this week, this is proof again that Cornwall is at the heart of the Government’s levelling up agenda and I look forward to continuing to work with all concerned to make these plans for our great city a reality.” 

More information about each Town Deal Board can be found on their dedicated websites below:  

Camborne Town Deal  

Penzance Town Deal  

Truro Town Deal  

St Ives Town Deal 

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