Restaurant profits will go to the Fifteen Foundation

Oliver intends to set up a Fifteen restaurant in the Beach Hut Bistro at Watergate Bay, near Newquay.

Objective One and the South West Regional Development Agency are to pump �1m into building work at the restaurant which will open next May.

Cornish students from disadvantaged backgrounds will be trained at the restaurant based on the London format.

The problem is whether the chefs will get jobs in Cornwall Professor Peter Gripaios Tell BBC Cornwall what you think

All profits from Fifteen Cornwall will go to The Cornwall Foundation of Promise, a mirror of the Fifteen Foundation which pays for the youngsters' places on the scheme.

Fifteen Cornwall will sit alongside sister restaurants in London and Amsterdam.

Professor Peter Gripaios, an economics expert at the Plymouth Business School, said: "It seems a big subsidy going to the private sector, and the problem is whether the chefs will get jobs in Cornwall.

"Supply does not always create its own demand and it really needs an expansion in the Cornish economy.

"Now may not be the best time if there is going to be a recession."

I think this is a really strategic investment for Cornwall Stephen Bohane, South West Regional Development Agency

Claire Morgan, from Objective One, said: "Tourism makes up 25% of the economy in Cornwall and agriculture and food takes 25%.

"We cannot guarantee that the chefs will stay here but the jobs will be here if they want to.

"One of the key priorities of Objective is to raise the wealth of Cornwall and the Isles of Scilly.

"We are funding a very good concept that has worked very well in London."

Stephen Bohane, from the regional development agency, said: "Whether or not they get jobs in the county is almost irrelevant.

"They will still get this training and develop good careers. In the meantime it is also raising the quality of two of our most significant industries.

"The linking of Jamie Oliver and the quality he offers with Cornwall is a further step in developing those industries in Cornwall.

"I think this is a really strategic investment for Cornwall. I think it's absolutely great."