THE Falmouth-based Cornwall Marine Network is celebrating the purchase of its premises after winning a £140,000 business growth grant.

The Business Catalyst Fund award enabled CMN to buy the building, which it had previously been renting at Falmouth Business Park. The strategy means the not-for-profit organisation can pursue its continued growth plans and further enhance the delivery of specialist services to its marine member businesses. These include providing sector-specific training and marketing support, as well as creating career paths and Apprenticeship opportunities in the sector for young people across Cornwall.

The Business Catalyst Fund grant was administered by Cornwall Development Company as part the Government’s Regional Growth Fund. The expansion means the network has been able to employ 18 additional staff to increase its delivery and range of services during the last two years.

Nick Blandford, of Cornwall Development Company, said: “We are pleased to support an organisation that represents a key economic sector for the county. The Cornish marine industry has a permanent base at CMN’s expanded head office, providing a dedicated centre for further activities that support business growth.”

Sandra Rothwell, chief executive of the Cornwall and Isles of Scilly Local Enterprise Partnership, which originally secured £5 million of Regional Growth Funding to set up the Business Catalyst Fund, said: “Marine businesses are a cornerstone of our economy and this investment gives Cornwall Marine Network a platform for continued growth. It is a good example of how LEP investment is helping to create and secure jobs in Cornwall and the Isles of Scilly.”

Paul Wickes, of Cornwall Marine Network, said: “We are delighted to have won this award, allowing us to more than double our expert workforce to develop more of the services that our member businesses tell us they need, as well as creating opportunities that attract continued investment in the sector.”