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TIN news:   A road improvement scheme worth £13.3m in North Lincolnshire has secured approval, which will lead to the creation of thousands of jobs and homes in the region.
The M181 Lincolnshire Lakes project will lead to the creation of over 6,000 new homes and up to 4,000 jobs by 2028, with up to 1,500 homes and 1,500 jobs estimated by 2021.
Out of the £13.3m, Highways England’s Growth and Housing Fund will provide £8.6m while the remaining amount will come from North Lincolnshire Council.
"This is a good example of Highways England working with local partners and developers to provide road improvements, value for money and economic growth."
The £100m Growth and Housing Fund provides financial contributions towards road improvements. This is the second award since the fund was established earlier this year under the government’s 2015 Road Investment Strategy.
UK Transport Minister John Hayes said: “This exciting project is an important part of our £15bn road investment strategy to deliver better journeys and help people get about and get on.
“The new junction on the M181 in North Lincolnshire will help the local economy to grow, delivering 4,000 jobs, 6,000 homes and opportunity for people in the area.
Highways England chief executive Jim O’Sullivan said: “The £100 million Growth and Housing Fund is a key means by which Highways England is strengthening its contribution to local communities and economies, and I am delighted we have been able to make this significant award.”
“The Lincolnshire Lakes project will unlock the development of two strategic sites, directly enabling the delivery of thousands of jobs and homes over the next 12 years.
“This is a good example of Highways England working with local partners and developers to provide road improvements, value for money and economic growth.”
Under the scheme, a new roundabout  will be created from where the M181 will meet the M180, offering easy access to new homes and business properties.
Construction on this stretch is expected to commence early next year.

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