4,000 homes are to be developed in Oxfordshire by 2021 after a £108.6m investment was given the go-ahead.

Minister Greg Clarke MP signed a local growth deal which will also create 6,000 jobs.

£15.7m of investment has been confirmed for the first year commencing 2015/2016 with a further £92.9 million of commitment through to 2020/2021 which will be used for ten transport, infrastructure and skills projects throughout Oxfordshire and generate up to £208.5m in public and private investment.

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The Oxfordshire Growth Deal is part of a national £12bn long-term programme to revitalise local economies and was announced by the Government in July 2014. The deals are significant for rebuilding the British economy and sharing the benefits locally through the network of 39 LEPs.

Ian Wenman, Vice Chairman of Oxfordshire Local Enterprise Partnership said: "We are delighted to welcome the Minister to our region to formally sign our Growth Deal which, with the support of our partners, will improve economic activity and job creation in Oxfordshire for the foreseeable future."

Councillor Ian Hudspeth, Leader of Oxfordshire County Council said: "Transport will be vital to the future development of the Oxfordshire economy to connect people to jobs. The Growth Deal investment in major projects to improve our road network will help maintain the county's position as a leading area for employment across a wide variety of sectors."

(CD/IT)