By Daniel Hunter

The Secretary of State for Business Vince Cable has welcomed funding worth £6 million for the first phase of a new business park to be built at Aerohub @ Newquay Cornwall Airport.

The funding includes a £2,312,000 investment from the Homes and Communities Agency (HCA) and a grant from the European Regional Development Fund Convergence programme of £3,934,856, with Cornwall Council providing the land. The construction programme will start in early October and see completion of phase one in June 2015.

The 53.5 acre business park site will form part of the Aerohub EZ and is included in the Local Development Order. It will have space for over 30,000 sq ft of buildings and phase one will ensure the Park is investor ready, delivering site services including road access, electricity, water and broadband. The HCA funding also includes a £150,000 contribution to the ‘Rialton Link’ road, adding to the improvement of local infrastructure.

As part of it long term economic plan the Government set up the 24 zones as a 25-year project to rebalance the economy and create future centres of excellence in key industries such as aviation, pharmaceutical, offshore energy and automotive. Since their start 3 years ago enterprise zones have created more than 9,000 jobs, attracted over 300 businesses and secured £1.2 billion of private sector investment.

Vince Cable said: “Cornwall’s Aerohub is an excellent example of one of the 24 Government-backed Enterprise Zones that are driving private sector-led growth across England. This new funding will help develop valuable infrastructure for the new Business Park to attract increased investment and create more jobs for Newquay and the surrounding area.”

Chris Pomfret, Chairman of the Cornwall & Isles of Scilly Local Enterprise Partnership and Deputy Chair of the Convergence Local Management Committee, said: “The business park is a vital component of the Aerohub Enterprise Zone which is already home to six new businesses and has created more than 150 jobs since 2012. Our aim is to unlock further growth of both the aerospace and space sectors in Cornwall to create skilled, well-paid jobs and this investment is an important step towards achieving that.”

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