The Cambridgeshire Chamber of Commerce has welcomed the Government’s decision to establish the Greater Cambridge Development Corporation, describing the move as an important step towards delivering the homes, infrastructure and economic growth needed to support the region’s long-term prosperity.

The new Development Corporation will be tasked with accelerating the delivery of thousands of new homes, jobs and transport improvements across Greater Cambridge. Backed by up to £800 million of government investment, the body will bring together land for development, unlock stalled sites and ensure critical infrastructure is delivered alongside housing growth.

The Government says the Corporation will take an “infrastructure-first” approach, helping to address housing affordability, improve connectivity, reduce commuter delays and support Greater Cambridge’s position as a globally recognised centre for science, innovation and enterprise.

The announcement comes as Homes England and Hill Group complete the acquisition of the 700-acre Cambridge East site, which will be delivered in partnership with the Cambridge Growth Company. The development is expected to provide more than 10,000 new homes, at least 3 million sq ft of commercial space and around 9,000 jobs, alongside schools, healthcare facilities, public green space and supporting infrastructure. The project represents one of the most significant growth opportunities in the region and highlights the scale of development that coordinated planning and infrastructure investment can unlock.

Housing Secretary Steve Reed said the Development Corporation would help deliver “more affordable homes, good jobs for local people and infrastructure that supports its communities”, while Chancellor Rachel Reeves described Greater Cambridge as a “powerhouse for regional growth” that is central to the Oxford-Cambridge Growth Corridor.

Commenting on the announcement, Charlotte Horobin, Chief Executive Officer of the Cambridgeshire Chamber of Commerce, said:

“The creation of the Greater Cambridge Development Corporation is welcome progress and reflects the scale of ambition needed to unlock sustainable growth across our region. Businesses have long called for housing, transport and essential infrastructure to be planned and delivered together, ensuring communities and employers can thrive side by side.

“As these plans move forward, it will be essential that the economic benefits are felt across the wider region. Major developments such as Cambridge East demonstrate the scale of opportunity ahead, with thousands of new homes, jobs and commercial space creating demand throughout local supply chains. Growth must create opportunities for local people, strengthen our supply chains and support businesses of all sizes. The investment opportunities arising from new development should provide lasting benefits for communities throughout Cambridgeshire and Peterborough.

“The Local Skills Improvement Plan must be a foundation for future workforce planning, helping to ensure that employers have access to the skills they need and that local residents can benefit from emerging opportunities. Aligning skills provision with infrastructure and economic development will be critical if we are to maximise the potential of this investment and build a resilient, inclusive economy for the future.”

The Chamber looks forward to working with partners, local authorities, businesses and education providers to ensure the Development Corporation supports sustainable economic growth while meeting the needs of communities across the region.