£1m investment plan to upgrade M11 near Stansted Airport
- Credit: Archant
One million pounds is to be spent on upgrading the M11 at Junction 8 over the next five years.
This is part of a £38million investment, awarded to the Greater Cambridge Greater Peterborough Enterprise Partnership (LEP), to support economic growth.
The £1million earmarked for the M11 Junction 8 will be spent on development work to upgrade the interchange, located near Stansted Airport. The upgrade has the potential to significantly accelerate delivery of new homes and enable the development of business land.
Mark Reeve, chairman of the LEP, said: “We have worked hard to secure an additional £38 million of funding from Government to support the growth of our local economy by enabling 15,500 new jobs and allowing 10,000 new homes to be built.
“The upgrading of Junction 8 of the M11 will unlock new homes and open up land for business growth.”
Growth Deal funding will be available to spend between 2015 and 2020, and will be administered by the LEP.
The £38 million allocation is in addition to £71.1 million already secured by the LEP from Government as a part of the Growth Deal process, bringing in well over £100 million the local area over the next five years.