The Greater Cambridge Partnership (formerly Cambridge City Deal) is a government investment in infrastructure and housing to sustain the skills that will support the continued growth of technology firms around Cambridge.
The deal, agreed between government and Greater Cambridge, will accelerate the delivery of homes and create many thousands of new jobs in Cambridge.
Between 2015/16 and 2019/20, government will provide Greater Cambridge with £100m of investment into transport infrastructure and, depending on the economic impact of these local investments, Greater Cambridge will be able to access up to an additional £400m over 10-15 years. This investment will sit alongside the other £500m that Greater Cambridge has pledged to enable growth in the area.
The scale of the investment by government is testimony to how important Cambridge is to the UK economy.
Cambridge is a city on the move, known worldwide for its community of dynamic businesses and brilliant people. It’s highly innovative, with more patents per head than the next five most innovative cities combined.
Cambridge’s business and science parks host many of the world’s leading corporations and innovation companies. Silicon Fen continues to expand rapidly as the city attracts commerce from around the world.
Total employment in Cambridge and South Cambridgeshire was approximately 184,000 in 2011. But in the next 20 years, total employment in Cambridge and its service hinterland is projected to rise to approximately 221,000 - a growth of 20%. This is one of the strongest employment projections in the UK.
The population of Cambridge City is expected to rise by 24.5% by 2031 and the South Cambridgeshire population by around 30% by 2031. This means there will be demand for around 35,000 additional dwellings in the 20 years to 2031.
How Cambridge is ranked in the UK:
3rd highest UK city population growth 2014-2015 at 1.9%
1st for projected GVA growth in 2017 at 1.4%
One of the few cities making a net contribution to the UK treasury
3rd highest UK city housing stock growth 2015-2016 at 1.4%
Total employment is projected to rise by c.20% (c.37,000 more jobs) by 2031 (Source:Cambs CC)