MIRA Technology Park – the 1.75 million sq ft Enterprise Zone in the Midlands – today announced that it will expand in size, following a speech made by the Prime Minister and Chancellor this morning.
One of MIRA Technology Park's new multi-tenant Technology Centres.
The announcement comes as MIRA Technology Park reveals the latest globally-recognised businesses to be based at the site, with GKN, Continental and Goodyear all taking space within a newly-created, highly secure multi-tenant 27,500 sq ft Technology Centre, which has just been completed at the site.
As part of their speech this morning, the Prime Minister and Chancellor outlined plans to create 300,000 jobs in the Midlands, to deliver £5.2 billion of investment into transport infrastructure and back science and innovation in the region. In addition, the Prime Minister and Chancellor confirmed that – as the UK’s largest automotive Technology Park – MIRA’s Enterprise Zone will expand in size, taking it to a proposed total of two million sq ft.
Also complete and opened today was the 25,500 sq ft bespoke building for Swedish firm, Haldex, which announced it was creating its new European Technical Centre – which will allow the firm to expand its engineering capabilities - at the Midlands-based site at the end of 2013. Together, the four companies represent a total of more than 100 jobs to the Midlands.
The opening of these two new facilities on the Enterprise Zone site was further buoyed this week by a successful HCA Local Infrastructure Fund (LIF) equity deal. Work will now begin on key infrastructure to further expedite the growth of the Enterprise Zone following a ground-breaking ceremony with Robert Napier, Chairman of the HCA. The deal represents £12.9 million of LIF investment into MIRA Technology Park.
George Gillespie OBE, CEO at MIRA, said: “We are delighted to confirm the expansion of MIRA Technology Park Enterprise Zone, which will enable even more companies to take secure space within the Zone. We are seeing a real demand for secure facilities on-site, and the expansion will allow us to further support those companies, which now also includes GKN, Goodyear, Continental and Haldex.
“The MIRA Technology Park story is really gaining traction, and we’re also excited to begin the next phase of the development with the build of key infrastructure starting this month. The site has been purposely created to offer global businesses the ideal location for their R&D operations, in what is fast becoming Europe’s No 1 location for transport technology.”
Upon delivering his speech in Derby this morning, Chancellor of the Exchequer, George Osborne, said: “The Midlands is already known for its strength in automotive research and development. The MIRA Technology Park in Leicestershire is one of the most successful Enterprise Zones in the country, and a huge success for the Local Enterprise Partnerships – having grown over 40% since 2010. To cement the Midlands and MIRA’s position as a world leader in automotive technology, I can announce today that we will extend the Enterprise Zone.
“I’m pleased to confirm today that growth is set to continue – with Continental, GKN, Haldex and Goodyear all moving into new premises on site.”
Bo Annvik, President and CEO, Haldex, said: “Our new UK R&D centre highlights Haldex’s continued strategic intention of providing innovative product solutions, and is a key step in supporting our development that will benefit both Haldex and our customers. At MIRA Technology Park we will develop global platform designs for advanced vehicle braking and stability solutions to the commercial vehicle industry. The new facility is housing a fully equipped state of the art design and simulation centre, full validation laboratory with integrated electromagnetic compatibility (EMC) facilities and a series of garage workshops housing multiple development vehicles. This complete facility integration will provide a unique level of interchange between our teams and will allow shorter development cycles and improve our responsiveness to market needs.”
Robert Napier, Chairman of the HCA, said: “MIRA was the first LIF deal to be completed in the Midlands so it is great to see work starting on site. The work that is being carried out is not only putting the Midlands firmly at the heart of a rapidly growing industry but also contributing towards MIRA’s growing international reputation; the impact on jobs and the economy that this will have will be substantial.”
Today’s announcements mark a significant period for MIRA Technology Park and represents another significant milestone in the £300 million total investment into MIRA Technology Park, and follows the arrival of Aston Martin to the site last month. The luxury British sports car manufacturer has taken space in a new, purpose built 15,800 sq ft building, which will accommodate a key part of Aston Martin’s prototype and vehicle development operations.
Since development began at MIRA Technology Park, a total of 354 jobs have been created. The aim is to create up to 2,000 high technology jobs at the Technology Park and a further 3,000 indirect jobs will be created as a consequence within the Midlands supply chain supporting the Technology Park by 2020. The ongoing development work is also having a very positive impact on the construction sector with an ongoing total of over 170 construction workers involved in creating the infrastructure and new R&D facilities.