The Cornwall and Isles of Scilly Economic Prosperity Board met on Thursday, 29 January 2026, to discuss the performance and closure of the Good Growth Shared Prosperity Fund (SPF) programme. Key decisions included the approval of funding for a clean energy and decarbonisation initiative and the transfer of funds to support sector development for the visitor economy.

Cornwall and Isles of Scilly Good Growth SPF Programme Performance and Commissioning Report

The Board received an update on the performance of the Good Growth Shared Prosperity Fund (SPF) programme, a £186 million investment managed by Cornwall Council since 2022. The programme has supported over 900 projects, with significant forecasted benefits including the creation of 1,765 jobs, safeguarding 714 jobs, and delivering over 30,000 training opportunities. The programme is also projected to leverage £83 million in additional investment, enhance 60 football pitches of natural space, refurbish 142 community hubs, and reduce greenhouse gas emissions equivalent to powering 593,000 average UK homes annually.

A recent social media and bus stop advertising campaign highlighted the programme's impact across Cornwall, with high engagement rates, particularly in South East Cornwall. The Good Growth Team, responsible for managing the programme, won the Most Innovative Project of the Year award from the Institute of Economic Development for embedding clean and inclusive growth into funding projects. This pioneering approach has garnered interest from other local authorities.

The SPF programme is nearing its end, with contracted projects due to complete by 31 March 2026. Although the government offered an optional time extension to 30 September 2026, there is no additional funding for the programme or its administration, meaning it is now in its closure phase. The Board considered programme closure options and noted that all contracted projects must continue in accordance with their grant funding agreements.

Discussion during this item included congratulations and thanks to the Good Growth Team for their work. Members welcomed the update on the social media campaign and noted that the upcoming SPF Showcase event on 11 February 2026 would coincide with a Cornwall Council Cabinet meeting, potentially increasing attendance. A suggestion was made to honestly reflect on areas that had not progressed as well as expected to identify lessons learned for future funding periods.

It was requested that future reporting include clearer geographical analysis beyond financial allocations, detailing outputs such as jobs created and information on employment quality or pay levels, to better demonstrate the programme's impact to residents. The Board was informed that lessons learned are being captured as part of the programme and will be included in an independent evaluation due to report in April 2026. This evaluation will include final financial performance and aggregated output and outcome data. It was also noted that some project outcomes would continue to be delivered until 2030, with projects required to provide regular updates.

Members of the public can access project investment and performance data on the Good Growth website, which can be filtered by project type and geographical area. The Cornwall and Isles of Scilly SPF Programme's selection as one of 34 national case studies for programme evaluation was highlighted as a positive reflection of its work. Assurance was sought that this evaluation would identify the unique strengths of Cornwall and the Isles of Scilly's approach to support future government economic investment funding. The Board was advised that the programme's distinctive delivery and high performance, particularly the use of locally developed Good Growth Principles, had led to its selection as a case study. The evaluation findings will be reviewed in detail, with an update to be provided to the Board in April 2026. Members from the Isles of Scilly expressed a desire to collaborate with Cornwall Council on future government investment programmes, noting the successful partnership during the current programme.

The Board resolved to note the Programme Performance Report and requested any additional data or information for the next quarterly report. They also approved the Initiation Form (GG003) for Clean Energy, Decarbonisation and Safer Communities.

Cornwall and Isles of Scilly Shared Prosperity Fund Good Growth Programme Funding Decisions (Part 2)

Following the exclusion of the press and public due to the likely disclosure of exempt information relating to financial and business affairs, the Board considered a confidential report seeking approval for specific Good Growth Programme funding decisions. Further information was provided on project delivery, actions taken following the government's extension of the SPF Programme to 30 September 2026, and activities to ensure no SPF funds were returned to the government at programme end.

The Board debated the recommendations and resolved to approve up to £4,495,551 for the Direct Delivery GG0003 application (GG003_0001). Delegated authority was granted to the Head of Economy, in consultation with the Section 151 Officer, to negotiate contract conditions and enter into a funding agreement, including determining the final funding amount within the agreed maximum.