A BODMIN-based company has been awarded £1.5 million to create 50 new jobs and safeguard 183 more.
The Cornwall & Isles of Scilly Local Enterprise Partnership (LEP) has today announced the investment in Proper Cornish, the Bodmin pasty company.
The funding will enable a £3.75 million capital project to convert an empty 48,000 sq ft unit on the Walker Lines Industrial Estate to accommodate a modern bakery and head office all under one roof.
Chris Pomfret, chair of the Cornwall & Isles of Scilly LEP, said: "The investment in Proper Cornish is an example of the real difference this fund can make, not only to a company but also the wider community. It has enabled a project that will safeguard the existing business but will also create new jobs and promote growth, which is a key priority for the economy of Cornwall in 2013."
Paul Saunders, group financial director for Proper Cornish, said: "We are delighted that the LEP has recognised the opportunity this project offers in terms of sustainable employment and business growth. Funds such as these are vital in the current economic climate and we are excited to be able to move the business forward in such a positive way."
The £5m Business Catalyst Fund is delivered by Cornwall Development Company on behalf of the LEP and Cornwall Council. Funded from Regional Growth Fund, it forms part of the £17m Business Boost investment programme and supports businesses to make significant investments to create a step change in performance, productivity and growth.