Cornwall and the Isles of Scilly were designated as an Objective One area. The programme ran until December 2006 and is being followed by a Convergence Programme for the period 2007-2013. 
 
The Convergence Programme for Cornwall and the Isles of Scilly was announced when the European Union's Member States agreed the EU budget in December 2005. The South West RDA will be the managing authority for the ERDF programme.

Major projects funded by the South West RDA in Cornwall include the Eden Project and the Combined Universities in Cornwall (CUC). The RDA has invested £8 million in Eden and has funded the CUC to the tune of £14 million. The RDA is also working closely with CPR Regeneration, Cornwall's Urban Regeneration Company which is driving the £150 million investment plans for Camborne, Pool and Redruth - the largest conurbation in Cornwall. 
 
The South West RDA's Area Director for Cornwall and the Isles of Scilly is Theo Leijser. The Area Team is based at the RDA's Truro Office.