Jobs, homes and better transport links for the Oxford Cambridge Growth Corridor
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The government is going further and faster on growth with over £500
million investment for new homes, infrastructure and business space
for the Oxford to Cambridge Growth Corridor Communities and
businesses will be better connected, thanks to the reopening of the
Cowley rail line which will support the creation of up to 10,000
new jobs and homes in Oxford Part of the government's commitment to
regional growth which will help turn the Oxford to Cambridge
Corridor into...Request free trial
Working people will benefit from thousands of new jobs, affordable homes and more opportunities as the Chancellor announces a half a billion pound investment package to deliver growth in the Oxford to Cambridge Corridor and cement its status as a global innovation hub. As part of the government's drive on growth, the ambitious package will unlock the potential of the Oxford to Cambridge corridor - supporting communities and businesses with new jobs, homes and investment. Up to £400 million of initial government funding will kickstart development in Cambridge with affordable homes, infrastructure and business expansion. In Oxford the Cowley Branch railway line will reopen with new stations at Littlemore and Cowley - connecting people to jobs, homes and opportunity. These investments build on government's commitment to deliver East West Rail, which will strengthen links between Oxford and Cambridge, Milton Keynes, Bedford and beyond. The funding comes as world-leading research and development facility, the Ellison Institute of Technology, announces a £10 billion expansion of its Oxford base over the next decade - creating 7,000 jobs and putting Oxford at the forefront of global scientific research. Together this government and private sector-backed boost will help make the Oxford-Cambridge Corridor Europe's Silicon Valley - building on a decade of work that has delivered 43,000 jobs, £27.5 billion of investment and seen the cities ranked as the top two innovation engines in Europe.
The Chancellor of the Exchequer, Rachel Reeves said: “Oxford and Cambridge
are home to the two of the best universities in the world, two of
the most intensive innovation clusters in the world, and the area
is …
Science Minister and Oxford-Cambridge Innovation Champion, Lord Vallance, said: "These investments are
a milestone, not just for the Oxford to Cambridge Corridor, but
for the entire country. We are going to … Housing and Planning Minister, Matthew Pennycook said: “This government is putting its money where its mouth is to realise the full potential of Greater Cambridge. The funding we have allocated will provide the Cambridge Growth Company and a future delivery vehicle with capital needed to unlock key sites, remove barriers to sustainable growth and ramp up housebuilding in the years ahead to the benefit of existing communities in Greater Cambridge and the UK economy as a whole”. The growth package will deliver a wave of investment, including £15 million for the University of Cambridge Innovation Hub to create lab space for science startups to grow and compete on the global stage. This builds on the Oxford–Cambridge Growth Corridor investment prospectus, unveiled at this week's Regional Investment Summit, which outlines opportunities to unlock worldwide investment and comes as the Chancellor prepares to promote British investment opportunities at the Future Investment Initiative Summit in Saudi Arabia next week.
Lisa Flashner, Chief Operating Officer at the Ellison Institute
of Technology said: “We're delighted to hear the Cowley Branch
Line will be reopened to passenger traffic. It's a great example
of what can …
Andy Williams, Chair of the Supercluster Board
said: “Today's announcements mark a significant step towards
unlocking the full potential of the Oxford–Cambridge Growth
Corridor – an essential component of the …
Sarah Haywood, Managing Director, Advanced
Oxford said: " The government's investment into reopening the
Cowley Branch Line is an exciting and important boost to the
Oxford region, connecting communities, …
Professor Roderick Watkins, Vice Chancellor of Anglia Ruskin
University and Chair of the Arc Universities Group, said: “We are
delighted by this announcement, which we see as a blueprint for
universities, … Kathryn Chapman, Executive Director of Innovate Cambridge said: “Cambridge is a magnet for world-class talent, business and investment, driving innovations that will shape the future - from life-saving medicines to quantum technologies. The investment package announced today for Cambridge and the wider Ox-Cam corridor is very welcome. It will remove barriers, unlock growth, and ensure Cambridge and the UK remain at the forefront of global innovation.”
Dan Thorp, CEO of Cambridge Ahead,
said: “We welcome the Government's backing for the Cambridge
Growth Company, and wider OxCam Corridor - these are major
interventions that will create better conditions for … Contact Information Notes to editors
ARC UNIVERSITY The Arc Universities Group (AUG) evolved as a consortium of universities working together, across the growth corridor, towards inclusive and sustainable economic growth in an area of designated national economic significance. Together, the region's universities have a combined turnover of over £5 billion, attracting research income of nearly £2 billion with nearly 17% of all UK spin-out companies. The AUG now operates as part of the Supercluster Board. |