THE future of the historic foundry in Hayle has been secured thanks to a multimillion-pound grant.
Harvey's Foundry Trust has been awarded £4 million from the Heritage Lottery Fund (HLF) to conserve and adapt the remaining derelict grade two listed buildings at Foundry Square.
The grant will be used to unlock the potential of the final two historic buildings on the site for commercial use and fund vital repairs that will enable them to be converted to office space.
The trust said regeneration of the foundry has the potential to attract £4 million of private investment which would boost Hayle's economy and potentially create 84 new jobs.
Brian Capper, chairman of the trust, said: "The Heritage Lottery Fund received many high-quality applications from around the country and we are delighted that our bid has been successful.
"There is much work still to do to secure match-funding and finalise the details but this grant is a massive show of support for the trustees, staff and supporters of the trust and I congratulate them all and thank them for their efforts."
Part of the Cornish Mining World Heritage Site, Harvey's Foundry was established in 1779 and for more than 200 years was renowned for Cornish ingenuity and engineering excellence.
During the Industrial Revolution it powered heavy industries ranging from mining to shipbuilding.
As the Cornish mining industry collapsed, the company went into decline. In the early 1900s it was closed and the site was subsequently divided up and sold off. As the fortune of Hayle declined, so did the site, with buildings being abandoned and subjected to arson attacks.
Regeneration at Harvey's Foundry so far has seen 40 businesses open with more than 150 jobs created.
The new funding, part of HLF's Heritage Enterprise programme, heralds the final phase of the ten-year regeneration of the site.
The programme helps to fund buildings that have failed to attract investment because the cost of repair has been deemed not commercially viable.
Nerys Watts, head of HLF South West, said: "The successful regeneration of Harvey's Foundry keenly demonstrates how heritage-led regeneration can directly spur local economic growth. However, these types of historic buildings are not without their financial challenges and so the HLF is giving communities the tools they need to attract investment. This grant represents the final piece in the jigsaw for Harvey's that will see it return to the centre of Hayle's local economy."
Leader of Cornwall Council, John Pollard, congratulated the trust on achieving one of the first Heritage Enterprise grants in the South West.
Now that this grant has been approved, a much more detailed stage two bid process will begin and further consultation events will be arranged.
For more information on the project and the trust, call Laura Christon on 01736 757683.