The University of Cumbria's Lancaster campus is to receive investment of £2.5 million.
The money from the Lancashire Enterprise Partnership means the University can now go ahead with its plans to build a new teaching block on the Lancaster campus.
Police are growing increasingly concerned for the welfare of a 16-year old girl who is missing.
Emily Thompson, who is a boarder at the Wings School in Milnthorpe, didn't return from a school trip to Lancaster with on 21st June.
Emily is described as white, 5ft 6", of slim build, with long, dark brown hair in a ponytail and speaks with a North East accent. She was last seen wearing a light blue hooded top and dark-coloured jeans.
A second girl was missing but has now returned to the school.
Anyone with information is asked to contact Kendal Police on 101 or Crimestoppers Anonymously.
The Virgin Trains service between Lancaster and Carlisle has returned to normal.
However, travellers can still expect some delays of up to 30 minutes.
There's disruption on Virgin Trains between Lancaster and Carlisle due to flooding between Oxenholme Lake District and Penrith.
Delays of up to 60 minutes can be expected.