The prime minister has announced a shortlist of bidders for the remaining £840m cash pot from the £1.7bn Transforming Cities Fund - first unveiled in the Autumn Budget 2017.
Local authorities in Derby and Nottingham, Leicester City, the North East, Norwich, Plymouth, Portsmouth, Southampton, Sheffield, Stoke-on-Trent and West Yorkshire are in line for a share of the funding.
However the 10 shortlisted city regions will each receive an initial £50,000 'as well as bespoke support from government to co-develop the strongest cases for investment'.
This suggests it is unlikely any of the shortlist will fail to secure a share of the cash ahead of a possible announcement at the early Budget of 29 October this year.
Number 10 said that over the next four years, the funding will be used to improve 'transport links in city regions, linking travel to work areas, increasing access to jobs and helping ensure that businesses have the infrastructure they need to thrive'.
'This funding could go towards upgrades such as new bus routes between residential areas and major employment hubs, smart technology aimed at reducing congestion, or rolling out docking stations for e-bikes,' its statement said.
While the bids are finalised, £60m from the fund will be made available over the next year for 'transport schemes aimed at tackling head on some of the most pressing challenges faced by communities'.
The announcement follows a first round of bidding opened by chancellor Philip Hammond in March this year for £840m. A separate £840m pot from the total £1.7bn fund was given directly to the six mayoral combined authorities in 2017.
Prime minister Theresa May said: 'As part of our modern Industrial Strategy we will fund £840m of upgrades for better, safer, faster transport links.
'These improvements to vital infrastructure will help spread growth beyond London and empower local businesses to create more, better-paying jobs – opening up more opportunities to help people get on in life and be rewarded for their hard work.'
Number 10 added that the projects supported by the Fund would also support its Future of Mobility Grand Challenge agenda. This saw the Government commit to make the UK a world leader in clean technology and reducing greenhouse gas emissions.
Chairman of the National Infrastructure Commission Sir John Armitt urged ministers to go even further by devolving even more powers and funding to local leaders.
He said: 'I’m pleased to see 10 city regions across the country benefiting from this funding boost, recognising that the need to tackle congestion makes cities a top infrastructure priority.
'The Transforming Cities Fund has been a great first step, and I would now urge ministers to go further and devolve even greater powers and funding to local leaders. That will enable them to devise longer term plans for transport, but also to boost employment opportunities and deliver much needed homes.'
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