MP Julian Huppert has welcomed an historic agreement between the people of Cambridge and Peterborough and the government building on the success of the Cambridge City Deal to deliver more than £70 million in further investment to the region.
The deal negotiated with the Greater Cambridge and Peterborough Local Enterprise Partnership brings in £71.1 million and the promise of supporting jobs and businesses.
It will create a new innovation centre at the growing Biomedical Campus next to Addenbrooke’s Hospital to provide business space for small firms.
And it will help up to 5,000 jobs, allow more than 7,000 homes to be built and bring in up to £40 million in private and public investment across Cambridge and Peterborough.
Julian said: “The government has already agreed the £1 billion Greater Cambridge City Deal which will bring in much needed investment for transport infrastructure and affordable housing. This deal adds to that, investing in the region as a whole, creating new jobs, improving transport links and supporting businesses.
“The new innovation centre at the Biomedical Campus will provide space for small businesses to grow and thrive which is so important for our city.
“This is extremely good news for Cambridge and will help to drive growth in the area and build on the city’s success. By delivering this deal, the government has listened to the people who know Cambridge and recognised that our city needs investment to continue to be successful.”
The Growth Deal builds on the Greater Cambridge City Deal, negotiated when the Liberal Democrats ran Cambridge City Council.