Up to 2,000 new jobs are to be created in Warwickshire thanks to an ambitious £250 million automotive sector project.
The Motor Industry Research Association (MIRA) is planning a massive expansion at its testing and design facility on the A5 near Nuneaton and the county border with Leicestershire.
The multi-million pound investment will create a new technology park, including building modern, environmentally-sustainable office space and state-of-the-art workshops, as well as a dedicated business campus.
Bosses at MIRA hope the project will attract high-quality companies to the area over the next ten years and generate jobs requiring a variety of skill levels.
The plan’s focus is the development of a new engineering centre and an improved technology park, within MIRA’s existing 750-acre site.
Experts believe the £250 million investment would enable the business to build on its reputation for engineering excellence and lay the foundations for growth over the next 30 years.
Commercial director of MIRA Technology Park Terry Spall said: “Whilst our work is at the cutting edge of what is possible using technology, we have many buildings, including our main office block, that date back to the 1950s and despite improvements over the years they are environmentally inefficient and far from ideal.
“We have achieved 30 per cent growth over the past year, recruited 70 new staff and our current technology park - which is home to 32 world-class companies - has reached capacity.
“We are now in danger of missing business opportunities as a result, which places a serious constraint on our ability to grow further.”