URL: https://democracy.cornwall.gov.uk/ieDecisionDetails.aspx?ID=8610

Decision Maker: Cabinet

Outcome:

Is Key Decision?: Yes

Is Callable In?: Yes

Purpose: Report seeking approval of the submission of an Investment Plan for the Kernow Industrial Growth Fund.

Content: Report seeking approval of the submission of an Investment Plan for the Kernow Industrial Growth Fund. DECISION:   RESOLVED:   1.  That Cornwall Council acts as Accountable Body for the Kernow Industrial Growth Fund for the £30m budget allocated to Cornwall during 2026/27 and 2027/28.   2.  That the submission of an Investment Plan (attached at appendix 1 to the report) for the Kernow Industrial Growth Fund be approved.   3.  That authority be delegated to the Service Director for Economy, Regeneration and Assets, in consultation with the Section 151 Officer, Monitoring Officer and the Portfolio Holder for Economic Regeneration and Investment to agree the final wording of the Investment Plan submission to Government, based on the draft Investment Plan attached at appendix 1 to the report, as well as the principles and priorities outlined in this report.   4.  That authority be delegated to the Section 151 Officer, in consultation with the Strategic Director for Sustainable Growth and Place, the Monitoring Officer and the Portfolio Holder for Economic Regeneration and Investment to enter into a Memorandum of Understanding with the UK Government for the Kernow Industrial Growth Fund, based on the Investment Plan, and to receive the grant monies.   5.  That authority be delegated to the Cornwall Growth Board on future investment decisions relating to the Kernow Industrial Growth Fund.     Reason for the Decision:    As contained within the report.   Alternative options considered:   None other than contained within the report.   Conflicts of interest declared:   None.   Dispensations granted in respect of a conflict of interest:   N/A  

Date of Decision: March 18, 2026