Northamptonshire County Council infrastructure projects have been given a major boost today with the announcement of a further Government cash injection of more than £20million over the next two years from April 2015.
Schemes that will benefit from the money made available from the Government’s Growth Deal, include the A45 Daventry Development Link, improvements to the A43 north of Northampton and Stanton Cross in Wellingborough involving the housing developer Bovis Homes.
The county council made the bid to the government for the money through Northamptonshire Enterprise Partnership.
Leader of Northamptonshire County Council, Cllr Jim Harker, said: “I’m delighted that this money has been made available to the county and it will allow us to take a significant step forward with these initiatives which are essential in boosting the economy of Northamptonshire.
“This is a further endorsement from the government that our revolving infrastructure fund (NRIF) is bringing results for the county and that Northamptonshire provides good value for money in terms of government investment.
“We’ve seen significant progress in recent years with getting infrastructure projects off the ground and now the economic rejuvenation is starting to gather speed with tangible results all over Northamptonshire.”
How much money has been awarded?
Provisional allocations from April 2016 have also been made for a number of other county council schemes including improvements to travel information involving the use of new-state-of-the-art technology, local bus networks, and improved access to Wootton Hall Park, allowing for housing and education developments.
When added to previous commitments, almost £20m will be available for 2015/2016 for improvements to new road infrastructure with more funds available in 2016/17 and beyond.
The NRIF enables the delivery of infrastructure required to unlock or serve development that will bring about economic or housing growth creating jobs and other benefits
By providing this infrastructure up front, planning risk is reduced, which allows development to come forward more quickly and this releases revenues which enables any public sector borrowing to be repaid.