Working with the Government, Coventry & Warwickshire can create favourable investment conditions. Following detailed discussions with partners, potential investors, and the automotive industry, we have already developed a package of incentives to secure investment in a Gigafactory.
The 265-acre site at Coventry Airport is in a unique position to accommodate the development of a Gigafactory, with a freehold owned by Coventry City Council. The site could accommodate the development of 4.5m sq ft of commercial space and is ready for a Gigafactory. Coventry City Council – on behalf of the West Midlands partnership – has formed a Joint Venture partnership with Coventry Airport Ltd to bring forward proposals for the site immediately.
Our other proposed interventions will complement and add value to existing Government schemes such as the Automotive Transformation Fund (ATF). It would also support the Government’s manifesto commitment to deliver a UK Gigafactory.
Coventry & Warwickshire has already made huge progress in understanding what is needed to secure a Gigafactory investment. We are now mobilising our successful local partnership, created around UKBIC, to make it happen alongside the support of the West Midlands Combined Authority.