“This agreement could be worth up to £500 million over 15 to 20 years, dependent on the economic impact of the investments and, in addition to Greater Cambridge’s own plans, could deliver over £1 billion of infrastructure investment in the Greater Cambridge area.
“Cambridge has an abundance of successful businesses and start-ups and access to a large pool of skilled employees but there is a growing need for investment in transport infrastructure to support high quality economic and housing growth over the coming decades. It is fantastic to see recognition coming to Cambridge for the amazing ecosystem of successful large, small and start up businesses that operate here. Together with the Higgins report earlier this week, it is further evidence of the growing recognition of the linkage between well planned infrastructure and growth.
“The Cambridge deal is the latest step in the Government’s City Deal programme, which is gradually devolving more power to local city regions. Following the precedent set by the deal with Manchester last year, the Cambridge deal puts central Government money on the table, in recognition that the whole country benefits through greater tax revenue if major city regions drive their own economic growth.
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