Paving the way for more investment into Lancashire
The heart of Lancashire is achieving its aims towards becoming the fastest growing and commercially dynamic location in the UK. The Preston, South Ribble and Lancashire City Deal is a once-in-a-lifetime £434m funding programme that is helping to transform the local area. Supporting the creation of 20,000 jobs and 17,000 new homes, City Deal aims to increase the size of the local economy by £1billion.
With our enhanced road networks, new strategic development opportunities and the HS2 hub planned for the city, we’re going to see some exceptional transformational benefits to our economy. There’s never been a better time to invest in Lancashire.
The deal was signed in September 2013 and is a ten year programme to advance the area at an exponential rate. It is being delivered in partnership with the Lancashire Enterprise Partnership (LEP), Lancashire County Council, Preston City Council, South Ribble Borough Council, Homes England and is supported by Central Government.
Across the City Deal area, hundreds of new homes a year are being built to house our growing workforce. These new communities will be supported by more school places, new open green spaces and health provision. A range of housing is being built to suit all budgets, and it’s not surprising that we’ve been crowned the best place to live in the UK, twice.
Improving our road networks
New roads are being constructed and we’re improving other junctions and areas to add capacity now and into the future. James Towers Way (Broughton Bypass) was recently completed and the Penwortham Bypass (now named John Horrocks Way) is now open. The Preston Western Distributor will include a new junction on the M55 to access the national motorway network, and we are widening the A582 to improve access to commercial centres, housing and employment areas.
New employment sites
A number of employment zones with excellent connections across the North West and further afield are being developed including our major new strategic site at Cuerden just off the M6 and M65. These will open up a range of development opportunities, which will spark further investment in the area and generate thousands of high quality jobs.
Investing in our urban centres
City Deal has already transformed some of our urban centres, creating vibrant public spaces for residents and visitors to enjoy. Preston was recently named “most improved city for growth” by PWC in their Good Growth for Cities report and with a HS2 hub station coming soon, the location is perfect for business as well as leisure.
Be part of the growth journey that’s taking place here. To find out more about investment opportunities:
Download our City Deal Brochure.
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