News / Slider / Uncategorized / January 22, 2015

£100 million boost for local economy

The £108.5 million Oxfordshire Growth Deal, announced last summer, has now been formally signed by the Minister for Universities, Science and Cities, Greg Clark MP. It will create thousands of new jobs, provide much needed housing and will generate more than £200 million in pubic and private investment.

Nicola joined the Minister, leaders of the Oxfordshire Local Enterprise Partnership and the County Council at Abingdon & Witney College to welcome the signing of this landmark deal. For the first time ever, infrastructure, housing, and other funding is being brought together in a single pot, and put directly into the hands of local authorities and businesses to invest with their knowledge of what is needed in their area to maximise their potential economic growth.

The deal includes:

  • Investment in substantial measures to reduce the risk of flooding, ensuring businesses continue to operate, roads and railways remain operational and people can be confident that their homes and businesses won’t be damaged.
  • Joint investment with the University of Oxford in a new Centre for Applied Superconductivity to bring university professors and entrepreneurs together to collaborate on exciting developments in fields as diverse as computing, cryogenics, x-rays and MRI scanning and electricity storage.
  • Investment with the both City of Oxford College and Abingdon and Witney College in state-of-the-art skills centres enabling local people to be trained in vital skills in science, engineering and technology, preparing them for future employment.
  • Significant investment to improve transport links including roads, cycling networks and parking – linking Oxfordshire’s world class universities with businesses and helping people get to where they need to be faster.
  • Continued investment into Oxfordshire’s Growth Hub, Oxfordshire Business Support (OBS) which helps local businesses access the support and make the connections needed for growth.

Nicola says The Growth Deal is great news for all local people, bringing together key investments in major projects such as transport infrastructure, our growing skills sector and flood defences, that will make such a difference across the county.

Our local economy is going from strength to strength, and this will ensure we keep this momentum going as Oxfordshire remains ahead of the game on employment and business growth.

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