The Government has announced a £500 million investment, designed to help turn the Oxford to Cambridge corridor into Europe’s Silicon Valley.
The money includes £120m towards the reopening of the Cowley branch line in Oxford.
The investment is expected to help fund affordable homes, infrastructure and business expansion and build on the pledge to deliver East West Rail, which will strengthen links between Oxford and Cambridge, Milton Keynes, Bedford and beyond.
Andy Williams, chair of the Supercluster Board, said: “Today’s announcements mark a significant step towards unlocking the full potential of the Oxford to Cambridge Growth Corridor – an essential component of the UK’s growth ambitions.
“Building on investment in East West Rail, the package for Greater Cambridge and the reopening of the Cowley Branch Line in Oxford are exactly the kind of joined‑up interventions that will help our region of 3.5 million people compete on the global stage.
“With a potential prize of up to £78 billion in cumulative economic growth by 2035, we have no time to waste. We can and must now go further and faster.
“By realising the potential across the cluster, we can boost UK science and innovation and drive sustainable, long‑term prosperity across the region. We look forward to working closely with Lord Vallance and his team to deliver on this shared ambition.
Sarah Haywood, managing director of 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, science infrastructure and businesses to the city centre, our universities and beyond.
“The line will help to realise the full potential of East-West Rail – facilitating connectivity, collaboration and employment across the Oxford to Cambridge corridor.
“It is a great example of Government investment unlocking private sector support, cementing the region as a World-class science super-cluster.”
Dan Thorp, chief executive of Cambridge Ahead, said: “We welcome the Government’s backing for the Cambridge Growth Company, and wider Ox-Cam corridor – these are major interventions that will create better conditions for good growth to happen.
“Cambridge generates national wealth and, crucially, fuels innovation clusters in other cities and regions. Companies born in Cambridge, and those attracted here from around the world, create jobs in all corners of the UK. As Cambridge grows, the benefits are felt across the UK.
“Cambridge can only play its national growth mission role if major local infrastructure and housing constraints are addressed. As Lord Vallance said recently, we’d be ‘mad not to’ maximise the potential of this region.
“Today’s announcement represents a transformational opportunity for UK productivity, generating returns felt from Bristol to Blackpool.”
Image: BryceIII, CC0, via Wikimedia Commons
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