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12.09.19

Cornwall Council outlines £12m spend on spaceport

Cornwall Council have outlined their proposals to go before councillors, asking for approval of £12m funding to support Spaceport Cornwall – the project to build the UK’s first horizontal launch site at Newquay Airport.

The plans would see the spaceport used to launch small satellites into orbit, and has already received backing from the likes of Virgin Orbit.

Earlier this year, a £20m funding package was announced for Spaceport Cornwall, including the aforementioned £12m to come from Cornwall Council. The UK Space Agency is set to provide £7.85m in funding the project.

A report set to go before the cabinet details how £10m of the council’s money will be capital funds, used to provide improvements and infrastructure needed at the airport for it to be used as a spaceport. It will also help secure the spaceport license necessary for operation.

Opening the spaceport will create new jobs and boost the local economy, with 150 direct jobs expected to be created by 2025.

The report states that the estimated gross revenue for Cornwall Council and the airport will be £1.8m in year five – when there could be as many as eight launches a year.

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