The Swindon and Wiltshire Growth Deal will help to create up to 1,500 jobs, allow up to 2,000 homes to be built by 2021 and generate up to £70 million in public and private investment.
Find out more about Growth Deals across the country.
Almost £13 million has been confirmed in the first year, and an ongoing commitment from the government will see more than £116 million of funding delivered from 2016 to 2017 onwards.
The Deputy Prime Minister Nick Clegg said: “I’m delighted to be finalising this historic deal bringing real change to Swindon and Wiltshire.
“This significant growth deal will enable a whole host of jobs to be created, see scores of homes built and transport improved. All of this is a major boost to the economy in the south-west.
“Growth Deals are about local areas leading their own growth, giving more power to people in the regions so we work together to build a strong economy and a fairer society.”
A package of road schemes around the Eastern Villages development – a new urban expansion to the east of Swindon
speeding up the delivery of 8,000 new homes by 2026 to meet local housing needs
A new science park at Porton Down, which will provide facilities for research, development and advanced skills training for companies specialising in life sciences and healthcare
A range of transport schemes to help people and goods move more easily around Swindon and Wiltshire’s key growth zones, including Wichelstowe, where the signing took place today
The Swindon and Wiltshire Growth Deal is part of a £12 billion long-term programme to revitalise local economies. The deals are the latest example of the British economy being rebuilt from the bottom up, and sharing the benefits of the recovery around the country.