Cornwall could be in line to get their own European-funded lending for businesses bank.
The bank will be set up with around £100 million available to lend to businesses that are set up in the area or anything that would expand into the county.
It will be funded by the £500 million that Cornwall is expected to get over the next 6 years to improve its economy.
But first the scheme must be accepted by the EU and the UK.
It said in a statement: “Tens of millions of pounds would be earmarked for non-grant business funding that would be repayable and create a self-sustaining business investment fund beyond the life of the programme.
“This would recycle investment in the local economy in perpetuity and is seen as a key move away from a grant culture to a more entrepreneurial economy.”
Chairman Chris Pomfret said: “Our message to ministers is that Cornwall and the Isles of Scilly have an excellent track record when it comes to investing public money wisely, but we would like the flexibility to make sure we can get the job done.
“We’re at the roadmap stage right now. Once we have agreement early next year on our final investment strategy we can work up the detailed projects that will create growth and jobs over the next seven years.”