Giving the keynote speech at Stephens Scown’s ‘Business Class’ briefing (Thursday 12 May) Suzanne Bond, Chief Executive of the Cornwall Development Company (CDC) explained that Cornwall has a real opportunity to lead the way in developing new technologies and maximising the potential of its investments and innovations.
With the introduction of superfast broadband, Ms Bond said the next five years would be an ‘exciting watershed period’ for Cornwall and the CDC would work hard to ‘drive forward’ and support creative industries, high-value jobs and high-growth businesses.
She said: “Cornwall’s economy is higher than the national average in terms of GDA and it’s the only part of the country that has an active economic growth strategy. There is every likelihood the county could be the pilot for future economic generation in the UK. Cornwall is truly on the map for new and emerging technologies, certainly in Europe and I think the county is on the world stage in many respects.”
Under the theme ‘What next for Cornwall?’ she identified tourism and creative industries, marine renewables and micro-generation as key sectors for growth and ones we should seek to nurture over the next 20 years. There is also potential to create new models of economic development and innovative ways of working together.
Ms Bond, an economist with more than 25 years experience, highlighted developments in Cornwall including the Environment and Sustainability Institute, Innovation Centres, St Austell and Clay Country’s eco-town development and Wave Hub. She talked about some of CDC’s delivery projects and gave an overview of global and local economic challenges for Cornwall.
She added: “Cornwall and the Isles of Scilly was one of the first areas to be given its own Local Enterprise Partnership (LEP) and this will be critical to bringing the public and private sector together and these initiatives to fruition. I want to see spin-offs and growth from these projects and our job is to make it happen – the end goal and prize could be much bigger for Cornwall.”
Stephens Scown’s event in City Hall Truro brought together around 130 businessmen and women from across the Duchy. Following the seminar, Suzanne led a question and answer session.
Mark Stubbs, joint managing partner at Stephens Scown, said: “Many of the initiatives Suzanne talked about have the potential to affect everyone in Cornwall and the challenge is to ensure we achieve sustainable prosperity for the county in a low-carbon economy. We want Cornwall to be ‘the place to be’ to do business. It was hugely encouraging for the delegates to hear from someone so enthusiastic and knowledgeable about Cornwall’s future development and the opportunities that we have.”
Cornwall Development Company, responsible for delivering Cornwall Council’s economic vision and EU convergence programme, was established in April 2009 and last year supported the creation of more than 1,500 jobs in the county.
Stephens Scown, one of Devon and Cornwall’s largest law firms with offices in Exeter, Truro and St Austell, runs regular ‘Business Class’ events across the two counties. For more information about Stephens Scown visit www.stephens-scown.co.uk
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