Cheshire East Council has successfully bid for a total of £81.5m from Government through the Local Growth Fund.
As well as transforming and improving Cheshire East's infrastructure, the funding will help bring jobs and investment to Alderley Park.
The Deputy Prime Minister has this morning announced the following:
• Congleton Link Road has received £45m for infrastructure and delivery during the period 2015/2017
• Poynton Relief Road has More than £16m for infrastructure and delivery over 2016/2017
• £20m injection into the collaborative Greater Manchester and Cheshire Life Sciences Investment Fund to bolster research and development into ground-breaking life sciences.
• A commitment to work with the Council to support the expansion of science and innovation across the Borough
• A commitment to work with the Council to invest in a new train station at Crewe.
The bid is part of the Cheshire and Warrington 'Growth Deal' which in total has received £142m to improve connectivity and deliver growth across the region.
It will improve town connectivity, such as between Congleton and Chester, Macclesfield and Manchester, and will give a welcome boost to the life science sector across the sub-region.
The Life Sciences Investment Fund will provide much-needed investment funding to high-growth small to medium sized business across Greater Manchester and Cheshire.
Although not exclusively focused on the AstraZeneca Alderley Park campus, this Fund will be instrumental in encouraging new start-ups and spin outs following AstraZeneca's relocation to Cambridge by 2016.
Council Leader Councillor Michael Jones said: "This is all part of putting residents first. This is a major move forward under my leadership and heralds the beginning of some very exciting times for Cheshire East.
"We bid for it, we achieved it and now we bring it forward as a major project of investment that will bring jobs and wealth to the local economy, as well as better connectivity.
"This funding will secure around 400 jobs at Congleton, as well as many more at Alderley Park.
"It will also take one hour off the journey times from Junction 15 to Poynton, as well as remove heavy traffic, including lorries, from Poynton, Congleton and Holmes Chapel.
"We believe in putting residents needs first and this is just one example of how we are focusing on this promise and delivering on it."
Rt Hon George Osborne MP said "Today we are announcing a £40 million Life Sciences investment fund to support start-ups and expanding businesses, bringing jobs and investment to cutting-edge facilities like Alderley Park.
"As the Chancellor I am passionate about backing science, and as the MP for Tatton I am delighted that we are able to support science and new jobs right here in Cheshire.
"Local companies are leading the way in biotech, medical and diagnostic innovations - and I am pleased that their potential has been recognised in this way. This funding will ensure that Alderley Park remains one of the very best places for science in the UK."
Out of a total of £71.1m funding allocated to transport from 2015/2016, £61.4m is allocated for Poynton and Congleton.
Comments
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Must be a worry that the government has to make such an investment.
They tax in excess, then think that they can nudge the economy in a particular direction. Decent inventions will always find investors. Just ask any US VC fund. We have them too! Government cash should not be necessary in a free market. I never took money from any government - too much hassle. Always too busy to get involved with them. They don't understand.
Alderley Park tenants will sink or swim based on their creativity. Without a unique product or service stream, then the businesses will fail. No amount of government money will hide this, just delay the inevitable....
All in all, rather disappointing.