The government has unveiled plans to establish a development corporation in Greater Cambridge, aiming to accelerate growth, create jobs, and deliver thousands of new homes.
A public consultation launched today will gather feedback from residents, businesses, and local authorities on how such a body could shape the future of the region.
Ambitious Growth Plans for Cambridge and Beyond
The proposed development corporation is designed to unlock nationally significant growth along the Oxford–Cambridge corridor.
By assembling land, regenerating key sites, and attracting investment, it could support thousands of high-paying jobs across construction, bioscience, education, and hospitality.
The corporation would also aim to improve transport links and deliver affordable housing to meet the needs of local communities.
Housing and Planning Minister Matthew Pennycook said:
“This government is determined to realise the full potential of Greater Cambridge to the benefit of its existing communities and the country as a whole.
The centrally-led development corporation we are proposing would provide us with the necessary powers, authority and access to finance to unleash ambitious and high-quality sustainable growth.”
Building on a Proven Track Record
Development corporations have been used successfully elsewhere, such as the London Legacy Development Corporation, which helped regenerate Stratford and delivered the 2012 Olympics.
Officials hope a Greater Cambridge body could follow a similar model, driving development and long-term prosperity for the region.
Chief Secretary to the Treasury James Murray added:
“A new development corporation will help us build more homes, create more quality jobs close to home, and raise living standards for working people across the area.”
Hundreds of Millions Already Committed
The consultation builds on up to £400 million already pledged by the government to kickstart development in Cambridge and surrounding towns.
This includes funding for transport projects, affordable homes, and the University of Cambridge Innovation Hub.
Part of this funding has also been allocated to a Water Efficiency Programme to address water scarcity while new infrastructure is developed, alongside £15 million for lab space to support science start-ups.
Local Leaders Back the Proposal
The Cambridge Growth Company, chaired by Peter Freeman, has been working with local partners to remove barriers to growth.
Freeman says a future development corporation could strengthen these efforts by providing long-term leadership and investment certainty.
“Greater Cambridge has an incredible track record for delivering good quality and sustainable growth,” Freeman said.
“A development corporation will give the tools, certainty and investment ability needed to deliver an infrastructure-first approach.
We’re looking at better transport, reliable water supply, more public spaces, more jobs, and more genuinely affordable homes.”
Consultation to Shape the Future
The eight-week consultation seeks views on several key issues:
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Whether a development corporation should be established
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Its objectives and planned activities
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The areas it would cover
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Planning powers for housing and employment space
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Engagement with local leaders and communities
Residents, businesses, and local authorities are encouraged to participate and share their expertise.
The government hopes that the feedback will help shape a body capable of guiding Greater Cambridge’s growth for decades to come.
Next Steps
If approved, the development corporation would provide a centrally-led structure with the authority and resources to oversee large-scale regeneration, secure investment, and ensure that growth in Cambridge and its surrounding towns is sustainable, inclusive, and economically transformative.
