By Richard Johnstone | 30 January 2014
Around £95m of public money is to be invested in Oxford to boost local growth, as part of the area’s City Deal, ministers announced today.
Oxford and its surrounding area will receive improvements to both local roads and public transport to better connect the city’s universities with its major industrial and research areas.
Road links to the Science Vale Enterprise Zone will be improved, and the first phase of the new Science Transit public transport scheme will begin, leading to buses and trains running frequently between the universities and these economic areas. The agreement also means work will begin to improve key pinch points on the A34 road.
It is hoped that more than 18,000 long-term jobs will be created as a result of the programme, in addition to the likely 30,000 construction jobs needed for the area’s development.
As part of the central funding deal, £33m will also be used to support innovation and skills, including apprenticeships. Around £40m will be provided from local authorities, and it is hoped that the scheme will unlock £600m of private sector investment in skills and business support to make use of Oxford’s high-tech expertise. In addition, the deal will also accelerate the development of 7,500 planned new homes for families across Oxfordshire.
Signing the pact in the city, Deputy Prime Minister Nick Clegg said it was ‘an unprecedented opportunity to decide how to invest millions of pounds in the region’.
He added: ‘The Oxford City Deal will provide the improved roads and public transport links the area needs to make the most of its world class universities and innovative science facilities.
‘By creating thousands of jobs and hundreds of new apprenticeships, this deal has the genuine power to change the fortunes of many people across the region, ensuring we are building a stronger economy and doing it fairly.’
Cities minister Greg Clark said the funding provided the tools for those who know Oxford best – businesses, local authorities and universities – to use the area’s strengths to create tens of thousands of jobs.
Transport minister Baroness Susan Kramer added that the three transport schemes would connect the area’s innovation and growth centres with universities. ‘This confirms our commitment to support transport infrastructure projects that unlock sites for economic growth, helping to create jobs and to connect people to jobs,’ she added.
Oxford is the 11th of 20 second-tier cities to agree a City Deals with ministers. It follows the initial phase of agreements with the eight core cities in July of that year.
