Coventry & Warwick Gigapark Investment Zone
The Coventry and Warwick Gigapark Investment Zone (CWGIZ) is a key strategic zone of nearly 250 hectares straddling Coventry City & Warwick District.
The CWGIZ area consists of four sites: Greenpower Park, SEGRO Park Coventry, Whitley South and Whitley East. 183 hectares are available for tax incentives such as full business rates relief for five years, capital allowances, stamp duty land tax relief, structures and building allowances and an elevated employer national insurance contributions threshold. In addition, there will be support available to develop the supply chain and skills as well as innovation and R&D for advanced manufacturing and electrification activity.
Collectively, the vision for the CWGIZ is to act as the key catalyst for driving the growth and modernisation of the West Midlands’ battery technology, automotive and wider future mobility sectors.
There is a market opportunity for an anchor investor and operator at Greenpower Park, specialising in battery manufacturing and/or related future mobility supply chain activities.
The supporting sites are expected to then attract further investment and through linked CWGIZ activities, catalyse growth opportunities for businesses operating in advanced manufacturing supply chains regionwide.
The CWGIZ has the benefit of being adjacent to a critical mass of academic R&D, automotive technology and logistics including the UK Battery Industrialisation Centre, University of Warwick, Coventry University, global automotive OEMs and proximity to the ‘golden triangle’.
The West Midlands has one of the largest automotive research clusters in Europe, including R&D facilities for JLR, TATA, Lotus and Polestar, accounting for 60% of UK automotive R&D, highlighting the truly unique proposition that the Coventry & Warwick Gigapark offers.
Investment opportunity
The size and scale of the collective sites offer significant opportunity for capital investors and end user occupiers with a focus on advanced manufacturing, future mobility and vehicle electrification activity.
www.investwestmidlands.com/coventry-warwick-gigapark
Investment Zone: Tax incentives
- 5 years full business rates relief
- Full stamp duty land tax relief for land purchased for commercial development or use
- Enhanced capital allowances (100% first year) for expenditure on plant and machinery
- Enhanced structures and buildings allowance: 10% per annum deduction
- Enhanced employers' National Insurance (NI) contributions. Zero rate NI can be applied to the earnings of eligible employees, up to £25,000 per year, for 36 months.
*Available until 30th September 2034
For full detail / clarification visit: www.gov.uk/guidance/investment-zones-in-england