Announcement is latest in a series of funding packages and initiatives to accelerate housing and infrastructure in the Oxford Cambridge arc
The Ministry of Housing, Communities and Local Government (MHCLG) has outlined plans to set up a development corporation to boost infrastructure delivery across the Oxford to Cambridge growth corridor, dubbed “Europe’s Silicon Valley”.
The entity would focus on speeding up major development, including thousands of new homes, as well as regenerating key sites and attracting investment in Greater Cambridge.
Matthew Pennycook, housing minister, 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 in Cambridge and its environs in the years ahead.”
A consultation is currently open for residents, local leaders and businesses in and around Greater Cambridge to share whether they think a development corporation should be established, the area it would cover as well as the planning powers at its disposal to approve new homes, employment space and infrastructure. It will run for eight weeks.
The announcement builds on up to £400m of government funding already committed to accelerate development in the area, including support for new transport links, affordable homes, and the University of Cambridge innovation hub – designed to support the growth of science start-ups.
Part of this funding has been provided for the government’s water efficiency programme to help tackle water scarcity while long-term infrastructure is developed.
The financing package was announced in October 2025 as part of a £500m investment in the Oxford to Cambridge growth corridor.
MHCLG said that a new development corporation could “strengthen” the work of the Cambridge Growth Company, a public-private partnership established by the government as a subsidiary of Homes England in 2024.
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