St Agnes Film Studio a Waste of Objective One Money?


The South West Film Studios at St Agnes have gone into administration after operating for less than 18 months.
The first purpose-built film studio to be built in the UK since 1923, has run into financial difficulty.

The £5.76m facility contained state-of-the-art equipment for film and television production and housed two covered sound stages for indoor filming work.

The project received £2 million from European Objective One development funds, while the rest of the money came from the private sector.

Criticisms have been aired over the allocation of Objective One money.

Many small businesses find it hard to get access to the funds while large enterprises appear to tap into large amounts of funding with relative ease. Smaller businesses also claim that Objective One allocation is placing some companies at an unfair advantage.

It has also been claimed that Objective One money is used to create or prop up unviable businesses. The funding and subsequent administration of the South West Film Studios goes appears to support this claim.


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