Ambitious plan to help firms and create jobs over six years

Partnership lobbies Government for £500 million

A multi-million bid for government funding has been made which could pave the way for skills training, better transport provision and improved internet links for Peterborough. Bosses of the Greater Cambridge Greater Peterborough E n t e r p r i s e Pa r t n e r s h i p , which oversees the region’s economic development, are calling for a £500 million investment in the local economy over the next six years.

They have drawn up a strategic economic plan to apply for the funding under the Government’s Local Growth Fund.

Partnership bosses say if successful, the funding will pave the way for the creation of 70,000 jobs and 50,000 homes across the region.

Key projects for the city include securing funding for a Peterborough Innovation Laboratory for hi-tech business ideas, a refurbishment of parts of Peterborough Regional College, plus improvements to the A47’s junctions 18 and 20, work on Bourges Boulevard, an improved Southbank Bridge link, Redbrick Farm development plus a Peterborough City Transport Study.

Adrian Cannard, the partnership’s strategy and planning director, said: “Our plan clearly demonstrates the fantastic potential that our area has to create new jobs, at the same time as supporting new homes and infrastructure.

“We have been bold in our ask, but are confident that our plans are robust and will deliver results for our local area.

He added: “It reflects what is really required to develop our local economy further.

“We will now be engaging in tough negotiations with Government to secure the best possible outcome to support new jobs and economic growth in our area over the next six years.”

Grahame Nix, partnership chief executive, said: “We have two of the fastest growing cities in the UK in our area, and now is the time to harness that growth potential and turn it into new jobs, new skills, new homes and new infrastructure that will benefit the whole of our LEP area.

“We look forward to negotiating our Growth Deal with Government and are hopeful of a resolution before the summer recess.”