Tuesday 15th June 2021

St Ives secures £19.9million investment from Government’s Towns Fund

St Ives has been awarded £19.9million by the Government to help speed up the transition to zero carbon whilst creating new jobs and opportunities for existing and future residents.

St Ives was one of the 101 towns in the UK invited by Government last year to apply to the Towns Fund to help regeneration and recovery from Covid-19.

Following in-depth consultation with the community, the investment plan submitted by the St Ives Town Deal Board early February sought the maximum investment of £25million to develop nine ambitious projects.

In light of the £19.9million investment announced by Government last week, the Town Deal Board will resume its work with Cornwall Council to reprofile the projects’ budgets for consideration by Government.

The nine projects put forward in the investment plan aim to support a new integrated, low carbon transport system, develop new skills, businesses and jobs, as well as provide transformed housing and community assets.

To encourage sustainable transport for residents and visitors, the Town Deal Plan involves the creation of a major low carbon transport system within St Ives and the development of 5 miles of cycling or walking paths between St Ives to St Erth, as part of the Bay to Bay Multi-Use Trail. 

Through a new collaboration between the Tate St Ives and the community, one of the projects includes the refurbishment of the Palais de Danse to become a new, digitally enabled, training, learning and enterprise hub that will support the creation of 13 jobs.

New opportunities for the Town’s most deprived communities will be on offer as a new supply chain of skills and jobs linked to the visitor economy will be created. This takes the shape of a new training café and learning centre, and a vertical farm, located at the large-scale community orchard and garden in Penbeagle.

In a bid to support local businesses, a dedicated funding pot has been proposed to speed up the COVID-19 recovery and allow for investment around innovation, operations and trade.

With an ambition to relieve the housing shortage across the town, a major project looks at the creation of new social and affordable housing for long-term residents to live alongside the fast-growing holiday rental market in the old town centre. Whereas new social and affordable homes will be available as part of the refurbishment of the Rugby Club site in the upper part of the town.

To further develop a strong cultural offer for the town, the proposed investment allows for the refurbishment of St Ives Theatre and The Guildhall. This will enable the extension of the performance season across the year and provide more opportunities for local children and young people. In addition, a major expansion of the Leach Pottery and its current offer will generate additional opportunities for residents whilst create year-round jobs.

The successful Towns Fund bid was developed thanks to a close collaboration between, St Ives Town Deal board, which comprises a group of individuals from the private and public sectors, and Cornwall Council. St Ives Town Deal Board will now continue its partnership working and discussion with Government to ensure that the projects proposed work for everyone living and working in the town. Further consultation with local residents, businesses and stakeholder will then follow to help shape the projects as part of the phase two of the funding process.”

Sarah Stevens, Chair of St Ives Town Deal Board said: “We are delighted that we have been successful in receiving funding for the town’s regeneration. Whilst we have not managed to secure the full amount we were seeking, all the projects put forward have been given the go ahead from Government. As part of this exciting announcement, we are glad that the decision has been left with the local community to decide on how best to reshape the projects proposed.

“I would like to thank everyone that helped us get to this point especially the local residents, town and county council and MP Derek Thomas. A special thanks to St Ives Town Deal directors who have volunteered their time and shown passion and commitment which has made this possible. This the start of great things for the town and we look forward to carrying on the work with the local community to ensure this funding benefits all.”

 West Cornwall and St Ives MP, Derek Thomas said: “This Towns Fund investment announcement marks the start of an exciting time for the future of St Ives. It will enable the delivery of the vision carried through the Town Investment Plan which include boosting green growth and enterprise, providing more affordable housing and improving the life-chances of our residents. It is a fantastic springboard for the regeneration of the town and the ambition of a sustainable, thriving and connected St Ives.”

Cornwall Council cabinet portfolio holder for the economy Stephen Rushworth said: “It is a great news for St Ives. This Towns Funds investment will no doubt help the recovery of our local businesses, boost the local economy which has been badly hit by Covid-19 and provide new exciting opportunities for the residents. I would like to congratulate the St Ives Town Deal Board on their successful bid. They are now is a strong position to be able to shape up those projects with the support of the town’s local community and deliver on the vision set in the Town Investment Plan.”

Following the announcement of £19.9million Towns Fund allocation, St Ives Town Deal Board and Cornwall Council will submit a revised proposal to Government in order to seek full approval on the projects. The next stage will be the development of the business cases for each of the proposed projects. This will be followed by a wide community consultation period with residents, businesses, young people and other local stakeholders, which is planned to take place next year across St Ives.

For more information and to view the full St Ives Town Investment Plan submitted visit


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Towns Fund – Town Deals

On 27 July 2019, the Prime Minister announced that the Towns Fund would support an initial 101 places across England to develop Town Deal proposals, to drive economic regeneration and deliver long-term economic and productivity growth. See further details of the announcement.

A Town Deal is an agreement in principle between government, the Lead Council and the Town Deal Board. It will set out a vision and strategy for the town, and what each party agrees to do to achieve this vision.

See the 101 places being supported to develop Town Deals.

Each of the 101 towns selected to work towards a Town Deal also received accelerated funding last year for investment in capital projects that would have an immediate impact and help places “build back better” in the wake of Covid-19. View a list of accelerated funding by place