Herefordshire is to benefit from nearly £39.43m in Government funding for two of its key infrastructure projects over the next three years. This allocation of funding is the culmination of many years of hard work and will allow two strategically important infrastructure projects to proceed.
The Hereford City Centre Transport Package (Inner Link Road) has been allocated £12m. The scheme includes the new link road from Edgar Street to Commercial Road which will open up further development land and deliver much needed jobs and new homes.
The South Wye Transport Package has been allocated £27m. This provides funding certainty to deliver the package of transport improvements to the south of the city including a new link road from the A49 Ross Road to the A465 Abergavenny Road. The package, the details of which are currently out to public consultation, will reduce congestion and support jobs at the Enterprise Zone and development of 1,000 new homes.
The private sector-led Marches Local Enterprise Partnership, made up of business and local authority leaders, has been successful in securing the support from the Government's Local Growth Fund. The Marches Growth Deal brings together different funding streams designed to support local growth in Herefordshire and across the Marches region.
Cllr Philip Price – Cabinet member for infrastructure said, “Recent leaders of Herefordshire Council have all worked to deliver significant investment in Herefordshire’s road infrastructure which will support our economic prosperity. This grant funding for these two schemes is a massive step forward and will put the Council in an excellent position to go further and finally deliver the much needed North/South by pass (Hereford relief road).”
All told, the funding will create some 1500 jobs and allow the development of at least 1500 new homes. I would like to congratulate all who have contributed to this outcome. This is the most significant development for Herefordshire in many years.”
The Growth Deal also sees a number of commitments being made both by the LEP and Central Government to deliver further growth in the region. These include discussions on a potential investment fund for the region and taking a proactive co-ordination role between the local authorities on long term strategic rail and road network planning.
Herefordshire businessman and chairman of the Hereford Enterprise Zone Board, Bill Jackson, said the deal was key to unlocking the potential of the city and its investment prospects.
"This is great news, both for the city and for the businesses which operate here and wish to invest here. The Marches LEP and central Government have recognised the impact that an A49/A456 link road would have on helping to develop the potential of the Enterprise Zone at Skylon Park.
“The South Wye package will reduce congestion thanks to the relief road, but importantly it will unlock potential leading to the creation of hundreds of jobs and homes," he added.
Skylon Park is the designated Enterprise Zone of the Marches LEP. The LEP retains the business rate uplift generated by new companies locating their operations in the Enterprise Zone, providing income for the LEP Board to spend on projects across the wider Marches area.