MIRA, one of the UK’s leading automotive engineering facilities, has been awarded Enterprise Zone status, significantly boosting its bid to become Europe’s most advanced, independent transport development facility.
The announcement has generated additional momentum for MIRA’s plans to expand and develop its West Midlands facility, enabling it to create more than 2,000 jobs over the next 10 years and provide R&D operations for businesses across the globe.
“Securing Enterprise Zone status for MIRA Technology Park (MTP) means a great deal to this development, crucially, it significantly enhances our international competitiveness,” said George Gillespie, MIRA Chief Executive Officer. “One of the core aims of the MTP is to help attract inward investment from international transport and automotive businesses, as well as creating thousands of jobs for our region. Becoming an Enterprise Zone makes the MTP a very commercial and compelling location – particularly for overseas companies looking to establish a European research and development centre.”
Construction work has already commenced on the first MTP building which, once complete, will cover 87.5 hectares, providing an ideal platform for transport technology businesses to establish their R&D operations. Further work on the rest of the MTP facility is scheduled to begin early next year, with the phased upgrading of key infrastructure and construction of the first of the new R&D centres.
Commenting on the development’s Enterprise Zone status Councillor Stuart Bray, Leader of Hinckley and Bosworth Borough Council, said “I am delighted to hear that the MIRA Technology Park in Hinckley has become an Enterprise Zone – one of only 11 in this second phase. This is fantastic news for the local economy as it will transform economic prospects across Hinckley and Bosworth and the surrounding area, attracting new businesses, bringing fresh investment and creating more jobs. I welcome this announcement and would like to pay tribute to everyone at MIRA, the LEP and the Borough Council who supported this bid.”
To find out more about the R&D investment in UK automotive click here.