Cornwall

Cornwall

Need
1. Spiral of decline
  1. Cornwall in periphery, long way from core markets
  2. Few job opportunities and services - 'brain-drain' as younger people move out
  3. Inward migration of older people
    1. Low, fixed pension incomes
    2. Increasing dependence ratio
  4. Economic leakage
    1. 25% of money earned leaves county
2. Over-dependence in one industry
  1. Tourism makes up 25% of GDP. Jobs are often low-paid and seasonal
3. Loss of industry
  1. Tin reserves exhausted, prices lower due to intl. competition
  2. Farming faces intl. competition
  3. Decline in fish stocks and low EU quotas
4. Had the lowest weekly wages in Britain
  1. Rise in depriviation
  2. £330 in 2005, 25% below av.
Strategies
1. Eden Project
  1. Built at bottom of unused china clay pit - re-imaging
2. Expansion of Newquay airport - improving accessibility
  1. Flights to other UK cities inc. London and Manc.
3. Objective One projects
  1. Extreme Sports Academy
  2. Jamie Oliver's Fifteen resturant
  3. South West Film Studios
4. Arts and Culture
  1. Tate St Ives
  2. Du Maurier Festival in Fowey
5. Combined Universities in Cornwall (CUC)
  1. Joint venture between Uni Col Falmouth and Exeter Uni
  2. Helps graduates set up business and secure knowledge jobs to cut 'brain drain'
6. Rural diversification
  1. Tourism and leisure e.g. accommodation, horse riding, 'put and take' fisheries
  2. Lobb's Farm Shop
    1. S. Cornwall's 2nd biggest attraction
Success
1. Social
  1. Has reduced unemployment in Cornwall by 6%
  2. 75% of staff previously unemployed, 40% were over 50 yrs old
  3. Project employs 400 full time staff (all year round)
  4. Jamie Oliver's Fifteen restaurant trains 15 disadvantaged young people each year
2. Economic
  1. Attracts 750k visitors a year, spending on av. £150 in Cornwall
  2. Derived demand for other business e.g. holiday cottages
    1. Since 2001, demand has doubled
  3. All food and drink sourced locally where possible
  4. 80% of businesses felt Eden had brought positive impacts for them and Cornwall
  5. CUC has attracted Neutralize, a footloose computer company
3. Environmental
  1. Eden has caused congestion, most arrive by car
  2. 3,500 cars in Eden's car park produce more CO2 than all other sources in St Austell

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