Derby is set to receive £2.6m of additional funding to contribute to the A52 Wyvern Transport improvement scheme.
The funding, administered by Highways England, is part of a wider commitment by Derby City Council, D2N2 LEP and developers of the Derby Triangle site to carry out the £14 million highway improvement scheme, to help address traffic congestion concerns, provide improvements for pedestrians and cyclists, and unlock up to 3,000 jobs in the city.
Councillor Martin Rawson, Cabinet Member for Regeneration and Economy said:
“The A52 is a vital link for local journeys and to the strategic highway network. It is good to be working with Highways England and D2N2 LEP to address local and regional issues and with developers to unlock the Derby Triangle site”.
Highways England is making a £12.45 million contribution towards a number of schemes across the country from its Growth and Housing Fund, with private sector developer contributions and other public funding making up the rest. The improvements, worth a total of £75m will create opportunities around Derby and Daventry in the Midlands, Oldham in the North West, Durham in the North East and Taunton in the South West.
The £100 million Fund was set up as part of the government’s £15 billion investment in roads and provides financial contributions towards the cost of road improvements that are needed for new developments, which promise timely delivery of homes and jobs.
Jim O’Sullivan, Highways England Chief Executive, said:
“As the improvements we’re announcing show, England’s strategic road network is vital for economic success by connecting businesses and people and supporting the Government’s agenda of employment and growth. The improvements are essential to accommodate the extra journeys the developments will create, and we will continue to use our Growth and Housing Fund to unlock further development sites around the country.”