Ambitious economic plan to attract billions of pounds to the West Midlands to take a step forward
The West Midlands Investment Zone aims to bring in billions in investment and create thousands of new jobs v.1
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The first phase of an ambitious plan aimed at attracting billions in investment and creating tens of thousands of new jobs across the West Midlands is set to take a step forward.
Members of the West Midlands Combined Authority (WMCA) Board are expected to approve the full business case for the £23 million Coventry and Warwick Gigapark when they meet on Friday (January 10).
The 2.5 square metre Gigapark is based at Coventry Airport and consists of four sites – Whitley East, Whitley South, Greenpower Park and SEGRO Park.
Anchored by a new battery gigafactory and associated businesses and technologies, the site will get tax incentives, business rates retention and £23m investment for land remediation, infrastructure and connection to power grids.
It is part of the 25-year Investment Zone which is focussed on driving growth in advanced manufacturing, green industries, health-tech and underlying digital technologies and aims to bring in £5.5 billion investment and create more than 30,000 new jobs.
