West Midlands Combined Authority has announced that its nationally leading regeneration programme is delivering benefits in employment, housing and sustainability after new transformation work has been completed.
Using almost £24 million worth of funding from the combined authority, a former Coventry aerospace industrial site has been transformed into a business park that will provide almost 500 new jobs. Alongside the 65 acres that are taken up by the business park, 500 new homes have also been granted planning permission on other parts of the site.
The funding for the project has come as part of the council’s leading regeneration programme that follows a ‘brownfield first’ approach. This sees investment being used to unlock derelict industrial sites for new homes and businesses that can bring further investment and employment for local communities.
Spaces that were previously used as company playing fields on the site are being set aside for open space for the new local community, with the homes that are being delivered being both affordable and energy efficient.
West Midlands Mayor Andy Street said:
“It's wonderful to see how this WMCA investment has been able to breathe new life into this large and landmark site. This new business park is yet another example of how we're successfully regenerating these sorts of derelict industrial sites.
"By working in close partnership with the private sector, our investments lead to affordable and energy efficient homes and business premises, create new jobs for local people and help to protect our precious greenbelt for generations to come.”
Communities will see the benefits of further employment opportunities as new businesses come into the area and supporting the growth of the regional economy.
Cabinet Member for Jobs, Regeneration and Climate Change at Coventry City Council, Cllr Jim O’Boyle, also commented:
“This is a real win, win – Meggitt has relocated with some support from us and now this new business park is set to be the home to new businesses providing new jobs for local people.”
Image credit: iStock
