Once a thriving harbour and home to heavy industry in the 19th century, Hayle fell into disrepair as the local economy declined. Today, Hayle is primarily a shell fish port but also provides winter berthing for the St Ives fishing fleet. The area has been in need of revitalisation for many years.

The current regeneration project aims to restore the harbour infrastructure, much of which is Grade II listed, secure the future economic health of the harbour as a maritime facility, enhance employment opportunities and act as a catalyst for social growth within the town. A major masterplan has been developed for the area.

The project will provide a permanent floating harbour with navigation lock, tidal flood defence, marina, fisherman's harbour and a mixed use development comprising a large residential development, shops, hotels, commercial and business facilities.