West Midlands submits Investment Zones bid for gigafactory - The Coventry Observer

West Midlands submits Investment Zones bid for gigafactory

Coventry Editorial 25th Oct, 2022   0

A BID for the West Midlands Gigafactory and its immediate area to gain Investment Zone status has been submitted to the government.

If the bid is successful it will help secure the £2.5billion investment needed to deliver Britain’s largest consented gigafactory.

The bid has been backed by Coventry City Council and is part of a wider submission made by the West Midlands Combined Authority for Investment Zones across the region.

The West Midlands Gigafactory could create up to 6,000 new jobs as well as protect and create tens of thousands more in the automotive supply chain.

The zone would include the Coventry Airport site and adjacent employment land which could be used to support the battery and automotive supply chain.

The gigafactory site already has outline planning consent.

The site could benefit from tax incentives should it be selected for Investment Zone status by the government.

Council leader Coun George Duggins has described the West Midlands Gigafactory project as a ‘once-in-a-generation opportunity to supercharge UK growth.’

“We have formed a strong partnership to deliver a Gigafactory in Coventry and we have the track record that proves what we can do in the UK Battery Industrialisation Centre adjacent to the gigafactory site.

“By granting Investment Zone status to this existing site, with planning permission attached, it means here in Coventry this is not about ploughing up new areas for speculative investments.

“It also means Ministers can continue to demonstrate their backing for Coventry and wider West Midlands’ world-leading automotive sector.”


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