23 Sep 2022
West Midlands Gigafactory welcomes investment zone proposal
We support the Government’s proposals to introduce Investment Zones across the UK, including in the site for the proposed West Midlands Gigafactory at Coventry Airport, and look forward to discussing the plans in more detail.
An Investment Zone which includes the West Midlands Gigafactory could supercharge growth in our region and across the UK and will begin to make the UK more competitive against our European competitors.
The location around the West Midlands Gigafactory has already been identified as having the potential to support an Investment Zone.
It would make the site even more attractive to global investors and help attract the c.£2.5bn investment required. It would ultimately create up to 6,000 jobs directly, as well as being strategically crucial to the automotive and energy storage industries as we increasingly electrify. The local partnership will continue to build the strong partnerships required, and work closely with Government through the rapid expression of interest process, to develop the opportunity. However, further interventions are also required, which must include direct government investment.