Investment Zone funding to create hundreds of cutting-edge manufacturing jobs
Mayor Richard Parker’s plan for the West Midlands to lead the nation in a new era of clean, green, technology-led manufacturing has been boosted by a £7m investment to kickstart Wolverhampton’s pioneering Green Innovation Corridor (GIC).
The Mayor chaired a meeting of the region’s flagship Investment Zone Board on Thursday, December 11 when funding was approved to get four brownfield sites shovel-ready for new investors.
The sites, close to the University of Wolverhampton Science Park, are known collectively as Six Mile Green and sit right in the heart of the GIC.
When fully developed they will host up to 600 high-quality jobs and apprenticeships in clean-tech, sustainable construction, cyber security, and green manufacturing and engineering.
Advanced manufacturing is one of the high growth sectors identified in the mayor’s Growth Plan as having the most potential to turbocharge the regional economy and create thousands of new, highly skilled, well-paid jobs for local people.
Richard Parker, mayor of the West Midlands, said: “Manufacturing remains at the heart of the West Midlands economy, but what we make, and how we make it, is evolving fast.
“Just as Watt and Boulton powered the first Industrial Revolution two centuries ago, the investments we’re making now will help our region drive the next one.
“My Growth Plan sets out our vision for an ambitious, resilient West Midlands economy that’s fit for the future. The Wolverhampton Green Innovation Corridor will at the cutting edge of sustainable, tech-led manufacturing, helping position our region as the best place for forward-looking businesses to invest and innovate.”
The GIC – one of three key Investment Zone sites in the region – is being delivered by City of Wolverhampton Council and University of Wolverhampton. It will connect key assets at the university’s Springfield Campus, Science Park, and the i54 advanced manufacturing business park.
The clean-up of the four brownfield sites, which is being funded through the Investment Zone programme, is expected to attract more than £22m of investment into the city.
Another 100 jobs will be created or supported during construction of 12,000sqm of innovation and commercial buildings that will include space for start-ups, growing companies and larger premises for established firms.
Cllr Chris Burden, City of Wolverhampton Council cabinet member for city development, jobs and skills, said: “The council and university have an extensive track record of working together with developers and investors to deliver transformative regeneration projects and we are already in active discussions with businesses seeking to locate at GIC and be part of a community of innovators.
“The Green Innovation Corridor will drive the Green Industrial Revolution, building upon Wolverhampton’s sustainable construction, green credentials and circular economy for transformation that will create quality jobs and training opportunities for local people. Once planning approval is in place we can set about bringing forward Six Mile Green.”
Dr Pete Cross, University of Wolverhampton chief operating officer, said: “The Green Innovation Corridor demonstrates how collaboration across the West Midlands makes our region a powerful contributor to the UK’s transition to net zero.
“By working with partners and industry and expanding our world-class teaching and research facilities, we are creating the conditions for businesses to thrive, bringing investment, high-quality jobs and apprenticeships to Wolverhampton.”
The region’s Investment Zone is being led by the West Midlands Combined Authority (WMCA). It covers the whole region and is powered through three specific sites – the Wolverhampton GIC, the Knowledge Quarter in Birmingham and the Coventry and Warwick Investment Zone site. All three will benefit from a range of direct funding and in some cases tax incentives.
In addition to 30,000 new jobs and £5.5bn of investment, around £1.5bn of business rates over the zone’s 25-year lifespan will also be retained and reinvested in the region to drive economic growth.
Funding has already been confirmed by the Mayor to deliver the Coventry and Warwick Investment Zone site, anchored by Greenpower Park, the UK’s Centre for Electrification and Clean Energy.
Fully developed, up to 6,000 jobs will be created in battery manufacturing along with other associated electric vehicle and energy storage supply chain businesses.
Birmingham Knowledge Quarter will drive growth in health, med-tech and digital industries across a site stretching from Aston and Birmingham City universities through Duddeston and Nechells.
Earlier this year, delivery partner Woodbourne Group announced a partnership with global real-estate investor Hines, potentially bringing £400m into the Knowledge Quarter, boosting the region’s housing and innovation pipeline.
Investment Zone funding is also delivering:
- A supply chain transition programme offering business support, research and development grants, and leadership training
- An equity fund to support early-stage businesses
- Skills training and routes to apprenticeships to make sure local people can make the most of the new job opportunities