The final stretch of Millennium Way in Braintree opened to traffic on Monday, opening up the eastern area of the town.
The £1.3 million, half-mile stretch of road was funded by landowners, Wyebrook Developments, in a community gain deal negotiated by Braintree District Council.
It has lain unfinished for almost a decade through lack of funding.
Head of forward planning, Paul Munson, said: "This is an important part of the overall strategy for East Braintree and will further stimulate the regeneration process.
"We hope it will bring new employment opportunities to Braintree and help protect existing jobs."
The road will provide access to the new Freeport shopping village, scheduled to open in the autumn, he added, and also open up over 20 acres of new business land.
The road will relieve traffic problems along Cressing Road and other residential areas, providing a short cut to the town centre from the bypass through Chapel Hill and Lakes Road and improve access to and from existing businesses to the A120, he said.
At the opening ceremony chairman of Braintree District Council, Fred Card, and Essex County Council chairman, Joan Beard, joined guests from across the community to travel along Millennium Way on an open topped bus to the town centre.
When the retail village opens, a free bus service will run to and from the town centre along the road, while work will soon begin on a new shoppers' railway halt next to the site.
The road will also feature a pedestrian footway and cycleway.
A 30-strong team of road builders have used 13,000 tonnes of sand and stone for the foundations, 5,000 tonnes of crushed concrete for the sub-base and 6,000 tonnes of tarmac topping.
Pictured, left: Braintree Council chairman, Fred Card county council chairman, Joan Beard, cut the tape with Tim Rix, managing director of Wyebrook, watched by invited guests.
Converted for the new archive on 19 November 2001. Some images and formatting may have been lost in the conversion.
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