13 January 2010

Statement on Proposed Integration of Camborne Pool Redruth Regeneration into Cornwall Development Company

This is a joint statement from the Cornwall Development Company and the Camborne Pool Redruth Urban Regeneration Company.

Cornwall Council is currently examining proposals to integrate the Camborne Pool Redruth (CPR) Urban Regeneration Company into the Cornwall Development Company (CDC).
CPR is the urban regeneration company set up to bring prosperity back to the Camborne, Pool and Redruth region in mid Cornwall - CDC is the council's arm's-length economic development organisation.
Working with partners at the Homes and Communities Agency and the South West Regional Development Agency, Cornwall Council is reviewing its approach to economic development to ensure it makes the most of the Convergence Programme and builds the capacity and skills to deliver the economic transformation of Cornwall.
With this in mind the Council is investigating the benefits of bringing together CDC and CPR with the aim of forming a single company with the remit and resources to deliver a range of economic development projects and programmes.
Martin Brooks, CDC Chairman, said: "We are working closely with the Chairman, Chief Executive and other colleagues at CPR Regeneration to bring the wide range of skills and expertise together for the delivery of economic development to the whole of Cornwall.
"We have ambitious plans for the transformation of the Cornish economy and the proposed integration can only strengthen our ability to deliver them."
The integration of CPR in to CDC is thought to be particularly important in the current economic climate and for the long term future of Cornwall. Both the CDC and CPR Regeneration are supportive of the change and working to develop a programme of integration which will realise the benefits of amalgamation.
David Brewer, CPR Regeneration chairman, said: "CPR Regeneration has achieved much in the past seven years. This integration gives us the opportunity to ensure the learning and expertise gained from this work can benefit the whole of Cornwall without losing focus on the delivery of key economic development projects in the Camborne, Pool, Redruth area.
"The economic development and regeneration of the area can only be sustainable in the context of a prosperous Cornwall. Thus the proposal will allow Cornwall to benefit from the lessons we have learned here, and will also bring in new ideas and expertise to help integrate the regeneration of this area into the wider economy of Cornwall."
Carolyn Rule, Cornwall Council cabinet member for Economy and Regeneration and board member of both CDC and CPR, said: "As a council we are always looking at how we can provide services in the most joined up and efficient way possible.
"There could be a lot to be gained by bringing together the skills and experience of both organisations to maximise the opportunities available through Convergence and build the new, vibrant, low-carbon economy of the future."
The review is expected to be completed by March with the cabinet of Cornwall Council making a decision in the Spring.