Lancashire County Council has welcomed a green light from the Government for a City Deal for Preston.
In a statement the County Council said:
"It is superb news for Lancashire that the Government has decided to support the bid.
"Preston has enormous potential as a focal point for economic growth, but this bid is on a vast scale and it is not just the city itself but the whole of Lancashire that stands to benefit. It also complements our existing programmes for job creation and apprenticeships.
"The City Deal will form the basis for large scale investment in transport and housing, and provide the ideal conditions for companies to invest and create employment."
More top news
Cold, windy and wintry weather continues until midweek. Cloudier yet milder weather for Thursday and Friday
Cold & windy. Some nice March sunshine developing for the afternnon but further wintry showers, especially later towards evening/overnight
Further wintry showers evening & overnight. Some settling snow over hills is possible, along with the risk of ice. A tricky morning commute