Cornwall Council is actively seeking private investment for natural capital projects and a partner to co-manage Cornwall Airport Newquay.

The council unveiled its initiatives on Tuesday (30 April), launching the Local Investment in Nature Cornwall (LINC) programme and announcing its search for a “private sector partner” to invest in and jointly operate the airport estate.

Cornwall currently owns and operates Cornwall Airport Newquay, which contributes £72 million annually to the local economy.

At a council meeting, it was noted that while the airport has experienced economic growth, including the development of the Aerohub Business Park, progress has not matched initial expectations.

Recognizing the financial dynamics, Cornwall Council is now seeking an investment partner for the entire airport site, shifting from its earlier strategy of seeking investors for individual land plots.

The council’s quest for a private sector partner is already underway, with the preferred partner expected to be presented to the cabinet in June.

In addition to soliciting investment for Cornwall Airport Newquay, the council aims to attract private funding for natural capital projects in the county through its LINC programme.

Under this programme, landowners with natural capital projects seeking funding will be connected with investors through the LINC: Cornwall’s Natural Capital Exchange platform.

Eligible projects include large-scale tree planting, creation of wildflower meadows, restoration of seagrass beds and rivers, and establishment of new wildlife habitats.

The LINC programme is part of a two-year Local Investment in Natural Capital pilot, funded by the Department for Environment, Food and Rural Affairs. Cornwall, along with three other pilot local authorities, has been allocated £1 million over two years to facilitate private finance for such projects.

Martyn Alvey, Cornwall Council’s portfolio holder for environment and climate change, highlighted the importance of funding from both the public and private sectors to support nature in Cornwall.

He stated, “The LINC programme is a key tool to increase funding and investment to deliver on local priorities.”

These nature projects align with the council’s objective to ensure that 30% of Cornwall’s land, rivers, and sea are well managed by 2030.