The Greater Cambridge Partnership is the local delivery body for a City Deal with central Government, bringing powers and investment, worth up to £1 billion over 15 years, to vital improvements in infrastructure, supporting and accelerating the creation of 44,000 new jobs, 33,500 new homes and 420 additional apprenticeships.
The partnership of councils, business and academia will work together, and with partners and local communities, to grow and share prosperity and improve quality of life for the people of Greater Cambridge, now and in the future.
The five partners are:
It is the largest of several City Deal programmes taking place in the UK and brings key partners together to work with communities, businesses and industry leaders to support the continued growth of one of the world’s leading tourism and business destinations.
The Greater Cambridge city region has achieved growth and success on an international scale, with an enviable status as a global hub of technology and innovation.
With the University of Cambridge at its heart, Greater Cambridge is a world-leading centre for research, innovation and technology which has led to the ‘Cambridge Phenomenon’ – a unique ecosystem of bright minds, commerce and local investment.
The inward investment, brought by the ‘Cambridge Phenomenon’, has created jobs and prosperity in Greater Cambridge.
Lives of millions of people around the world have been transformed through innovations originating from Cambridge, from cancer treating drugs to smart phones.
Greater Cambridge is one of only a handful of city regions which contribute to the UK economy. Its success brings jobs and opportunities for the whole region and beyond and, when it succeeds, so does the whole of the UK.
Add to this the city’s prominent position as a global tourist destination, steeped in history, and the area is seen as one of the most attractive to live in the UK.
The Greater Cambridge City Deal aims to enable a new wave of innovation-led growth by investing in the infrastructure, housing and skills that will facilitate the continued growth of the Cambridge Phenomenon. It acknowledges the region’s strong track record of delivering growth and seeks to support those existing, and new, businesses in achieving their full potential.
To unleash a second wave of the ‘Cambridge Phenomenon’, securing sustainable economic growth and quality of life for the people of Cambridge and South Cambridgeshire.
The Greater Cambridge Partnership, one of a number of ‘City Deals’ agreed by central Government in 2013, is worth up to £500 million in funding to 2030 for transport infrastructure to boost economic growth.
£100m of government funding has been made available for transport improvements until 2020. A further fund of up to £400m will be available if initial investments are successful in supporting economic growth.
The Greater Cambridge Partnership will also generate local funding, for example through Section 106 agreements with developers, and explore private funding opportunities.