The package announced - including an initial £400 million of funding - marks a significant milestone in our work to help Greater Cambridge to deliver the social, environmental and physical infrastructure needed to achieve ambitious economic growth.
The investment recognises Cambridge’s exceptional potential and the strong collaboration between local and national partners that is already driving progress in overcoming the obstacles to sustainable, inclusive growth.
Alongside the government’s announcement, we have published an overview of the positive interventions made, and outlined the way we would like to work with partners to support communities and businesses across Greater Cambridge in the future.
CGC welcomes the government’s intention to consult on establishing a centrally led development corporation as its preferred route to achieving the area’s true growth potential over the long term. This will be subject to a statutory public consultation, where local partners, residents and businesses will have the opportunity to share their views on future infrastructure delivery arrangements for Greater Cambridge and on the priorities needed to ensure its success. The government will publish more information on the consultation in due course.
Peter Freeman CBE, Chair of the Cambridge Growth Company, said:
“This announcement is a very welcome signal of Government’s long-term commitment to Cambridge. It reflects the progress we’ve made together - and the confidence in what this partnership can deliver.
“But there is more to do. We must continue working collaboratively across government, local authorities, business and our communities to turn the ambitions for Cambridge into action, ensuring that Greater Cambridge grows in a way that is sustainable and delivers opportunity for all.”
Todays’ government announcement included a broader package of measures:
- The recruitment of a Chief Executive to lead the next phase of the Cambridge Growth Company’s work;
- The collaboration between government departments, CGC and the Cambridgeshire and Peterborough Combined Authority to explore mass rapid transit solutions for Cambridge;
- Action to accelerate water infrastructure upgrades and expand water efficiency programmes; and
- A £15 million grant for the University of Cambridge Innovation Hub, supporting the next generation of science and technology start-ups.
A Place of National & Global Significance (3.8MB, PDF)