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Embedding Good Growth Principles into programme design and UK Shared Prosperity Fund (UKSPF) delivery in Cornwall and Isles of Scilly, managed by Cornwall Council, has been named the Most Innovative Project of the Year at the prestigious Institute of Economic Development (iED) Annual Awards 2025.
The awards, which were hosted at The Lowry Hotel in Manchester on 25th November following the iED Annual Conference, Good Growth: Driving the UK economy with investment in our regions and communities, celebrate achievers in the public and private sector through a series of individual, team and organisational categories.
This year saw a record-breaking number of entries, with almost 60 submissions received for seven award categories, and shortlisted nominations were assessed by an expert judging panel in September.
The Most Innovative Project of the Year award recognises innovative economic development projects which have pushed the boundaries beyond traditional approaches and delivered additional beneficial outcomes as a result of the innovation.
The £186 million Good Growth Programme is aimed at driving local economic growth, creating jobs and strengthening communities across Cornwall and Scilly. It is managed by Cornwall Council and funded by the government’s UKSPF.
But unlike traditional economic growth activity, projects funded through the Good Growth Programme are assessed not just on economic impact but on their contribution to a set of principles, which embed values of fair pay, inclusion, and environmental sustainability.
Embracing these Good Growth Principles has transformed how projects are designed, delivered, and evaluated. Funding recipients are expected to consider the broader societal and environmental impacts of their projects, from paying the Real Living Wage to reducing carbon dioxide emissions.
iED Director and former Chair Bev Hurley CBE, who hosted the awards honouring achievements across the public and private sectors, said: “This submission demonstrates an outstanding and forward-thinking approach to public funding. Our judges were particularly impressed by the council’s innovative decision to embed social, environmental, and inclusive principles directly into funding agreements – an approach that not only exceeds UKSPF requirements but sets a new benchmark for local economic development. Cornwall Council’s Good Growth Principles provide a systematic and transformative model, showing how fairness, sustainability, and inclusion can be meaningfully integrated into every project.
“By devising a bespoke framework that challenges the norms of centrally devolved funding, the programme delivers significant added value far beyond central government expectations, especially in its environmental and social value outcomes. This is a really standout example of policy innovation in practice, with clear evidence of intentional additionality and a coherent commitment to delivering ‘Good Growth’ throughout.”
Cllr Leigh Frost, Leader of Cornwall Council, commented: “This is fantastic recognition for Cornwall and the Isles of Scilly on the national stage and I am delighted that the Good Growth Programme has been acknowledged in this way.
“By making sure our principles of fairness, sustainability, and inclusion are at the heart of every funded project, Cornwall Council is redefining what economic development looks like. This innovative approach is delivering real benefits for local people, businesses, and the environment, and is positioning Cornwall as a real leader in progressive economic policy.
“The fact this year’s whole iED conference has been on the subject of Good Growth is a real testament to the sustainable, inclusive approach to economic growth that we have been pioneering here in Cornwall.”
iED Executive Director Nigel Wilcock added: “When we first created these awards during the Institute’s 40th anniversary celebrations, our ambition was clear: to recognise excellence – individuals, teams and organisations making a real difference in economic development across the UK. Every year since, the quality, innovation and commitment displayed has been extraordinary, and this year is no exception.
“Shortlisting the finalists was no easy task for our judges. My congratulations go to all those who were shortlisted, to each of our winners, and my sincere thanks to everyone who submitted entries. Their work showcases the diversity, creativity and impact of economic development in action – precisely what these awards exist to celebrate. It was wonderful to welcome so many familiar faces, along with new colleagues, to share in this special evening.”
-ENDS-
Contact: Phil Smith, Institute of Economic Development PR consultant, on 01778 218180 / 07866 436159 / phil@philsmithcommunications.co.uk.
NOTES TO EDITORS
The Institute of Economic Development (iED) is the UK’s leading independent professional body representing economic development and regeneration practitioners. Established over 40 years ago, the iED’s key objective is to represent the interests of economic development practitioners and ensure their views are widely expressed and noted. The iED is committed to demonstrating the value of economic development work for local and regional communities; the pursuit of best practice in economic development and the attainment of the highest standards of professional conduct and competence.
