Cornwall Marine Capital Fund

The Cornwall Marine Capital Fund had £1,750,000 to distribute to businesses in the marine sector in Cornwall, with the aim of creating 145 Full Time Equivalent (FTE) Jobs in the sector and unlocking £5.3m of private sector investment.

The Cornwall Marine Capital Fund is an example of a Cornwall Marine Network project that has led to new job creation. CMN aligned its Cornwall Apprenticeship Agency with the Cornwall Marine Capital Fund to ensure that some of the jobs were made available to apprentices who were supported and trained by CMN and associated colleges.

KML used their grant to purchase Falmouth Wharves to ensure that the Wharves are retained for marine use for the foreseeable future. KML are now able to use this rare deepwater site to co-locate their activities thus saving costs. 39 new jobs will be created by 2021 as a result of the CMCF grant. Another business on the wharves – Seawide Services – received a small grant for an equipment upgrade which enables them to win larger contracts. Seawide will create 2 jobs.

Mylor Yacht Harbour used their grant to purchase a boat lift. The new ‘Roodeberg’ lift has enabled MYH to handle bigger boats than before and to manoeuvre items in their boatyard creating more efficient storage, releasing space for more boats and therefore capacity for increased business. This project has enabled 4 new jobs to be created.