Nearly 6,000 jobs are to be created with multi-million pound schemes to reduce congestion and boost connectivity in Leicestershire.
Highways England has revealed that the road improvement schemes will unlock the development of more than 6,300 homes in the East Midlands.
The improvements, worth a total of £26 million, are hoped to create growth opportunities in Leicestershire and is being developed in partnership with Highways England, Leicestershire County Council and Leicester and Leicestershire Enterprise Partnership (LLEP) – a growth and regeneration partnership.
In the East Midlands, Highways England is contributing £5 million each from its Growth and Housing Fund to schemes at Anstey Lane (A46 / A560) and on the M1 at junction 23 in Loughborough.
The £7.8 million Anstey Lane scheme is expected to create up to 2,378 homes and around 260 jobs while 4,000 homes and 5,600 jobs are expected from the £18.2 million investment at M1 junction 23 – a combination of £3.2 million from local growth fund, £10 million private finance and £5 million from Highways England.
In total Highways England is making a £19.9 million contribution nationwide towards schemes from its Growth and Housing Fund, with private sector developer contributions and other public funding making up the rest.
Highways England chief executive Jim O'Sullivan said: "England's strategic roads are vital for economic success, connecting businesses, people and supporting the government's agenda of employment and growth. All of these improvements and future upcoming announcements will ultimately ensure England's major roads continue to make a valuable contribution to the prosperity of our country."
Nick Pulley, chairman of the LLEP, said: "Through local funding, the Leicester and Leicestershire Enterprise Partnership (LLEP) and Leicestershire County Council have allocated £12 million towards M1/J23 and A512 junction improvements. The M1 J23 / A512 scheme is expected to create up to 4,000 homes and around 5,600 jobs.
"This will unlock significant land for new homes and employment by supporting the new Loughborough and Leicester Enterprise Zone sites in Loughborough – Loughborough University Science and Enterprise Park and Charnwood Campus."
Transport Secretary Chris Grayling said: "We are investing record amounts on improving our roads so motorists can enjoy better journeys. Good transport links are key to our communities, boosting the area's economy and creating jobs.
"These schemes will unlock thousands of jobs for Leicestershire, as well as providing vital housing and junction upgrades – making the area fit for the future."
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.
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