The Government has announced a £500m investment for new homes, infrastructure and business space for the Oxford to Cambridge Growth Corridor.
The announcement highlights how these investments will build on government’s commitment to deliver East West Rail and aims to cement the Ox-Cam Corridor’s status as a global innovation hub.
The funding package includes up to £400 million of initial government funding for development in Cambridge with affordable homes, infrastructure and business expansion. A government consultation is planned to establish a new centrally led development corporation to support the growth of Cambridge.
In Oxford, the Cowley Branch railway line will reopen, which the Government says will support the creation of up to 10,000 new jobs and homes in Oxford.
The announcement is seen as the Government’s latest commitment to regional growth which will help turn the Oxford to Cambridge Corridor into Europe’s Silicon Valley.
Further details on the announcement is available here.