6 Reasons Why Locating In The West Midlands Investment Zone Could Benefit Your Business
Driven by three key sites – Birmingham Knowledge Quarter, Coventry & Warwick Gigapark and Wolverhampton Green Innovation Corridor – the Investment Zone is set to become a huge economic lever for the region over the next 25 years, further consolidating its place on the international stage as a leading destination for inward investment.
Here are six reasons why locating in the West Midlands Investment Zone could benefit your business:
1) Financial Incentives
Focus your resources on product R&D, develop your talent, and grow your business by taking advantage of a range of investor incentives as a result of locating in key sites within the West Midlands Investment Zone.
From full business rates relief for up to five years for companies in newly occupied business premises to a 100% first-year capital allowance on expenditure and machinery, you’ll have everything you need to concentrate on what matters – gearing your business up for success.
That’s not it either. Receive full stamp duty land tax relief for land and buildings bought for commercial use or developed for commercial purposes, enhanced structures and buildings allowance at a 10% straight-line reduction per annum and an increased employer national insurance contribution from £9,100 to £25,000 for new, eligible employees in the first three years of their employment.
What are you waiting for?
2) World-Class R&D Infrastructure
Did you know the West Midlands is the UK’s fastest-growing tech sector, is recognised as a UK leader in emerging technologies and is home to over 100 incubators, accelerators and testbeds that support our market-leading strengths in advanced manufacturing?
All three key investment zone sites are closely linked to our region’s globally renowned universities and world-class R&D assets – giving your business access to state-of-the-art facilities, highly trained talent and industry-leading expertise.
From the University of Wolverhampton’s School of Architecture & Built Environment and Aston University’s Institute for Membrane Excellence to Birmingham City University’s STEAMhouse and University of Birmingham’s Health Innovation Campus, there are abundant state-of-the-art research facilities for multiple industries including cleantech, digital technologies and life sciences.
Coventry & Warwick Gigapark, in addition to its proximity to Coventry University and the University of Warwick, is situated right next to the UK’s flagship centre of excellence for battery technologies – the UK Battery Industrialisation Centre (UKBIC).
3) Deep Pool of Talent
You’ve got proximity to R&D hubs, now reap the rewards of the talent produced by the region’s best-in-class universities.
Every year, these universities produce 60,000 graduates, continuously supplying a deep and diverse talent pool of over 1.1 million residents qualified to degree level or higher.
We recognise the demands of business; that’s why we offer industry-leading courses educating over 86,000 STEM students. We are the birthplace of the Industrial Revolution and countless inventions that have shaped the world – we’ve always had a flair for innovation. Our mindset for disruption continues today.
Our talented people want to stay here too. 55% of graduates choose to stay in the West Midlands, while the region has attracted more talent moving from London than anywhere else in the UK.
4) Established Supply Chains
As well as being attracted by the region’s talent, the world’s leading brands are also choosing to locate in the West Midlands due to its diverse, end-to-end supply chains.
Each of our three key investor sites is ideally situated next to established clusters and supply chains, offering superb opportunities to quickly develop your suppliers and customer base.
Take Coventry & Warwick Gigapark for example. Automotive, future mobility and EV battery manufacturers can take advantage of proximity to global brands such as Jaguar Land Rover, TATA Technologies and Polestar.
There’s further scope for collaboration too, with Leamington Spa’s gaming cluster nearby, offering unrivalled opportunities to converge serious gaming technologies to produce unprecedented new products and services.
5) Unrivalled Connectivity
The talent is here. So is the R&D and the supply chain. That’s without mentioning the attractive investor incentives. Is that everything?
No.
Situated at the heart of the United Kingdom, the West Midlands Investment Zone offers superb connectivity to the rest of the country, with 90% of the country’s businesses accessible within just four hours. We’re at the centre of the UK’s motorway network and we have excellent rail connectivity offering swift travel across the country.
Significantly, Birmingham Knowledge Quarter is set to be located adjacent to the UK’s new high-speed railway HS2, which will halve journey times between London and Birmingham to just 49 minutes. Curzon Street station, HS2’s main terminal in the region, will be the first intercity terminus built in Britain since the 19th century.
It’s not just transportation that we lead in either. The West Midlands is recognised as the UK’s best-connected region for 5G.
6) Best-In-Class Investor Support
Now you know these benefits exist, it’s important you’re able to access them swiftly and effectively.
That’s why West Midlands Growth Company – the West Midlands’ investment promotion and destination management organisation – is here to provide investors with best-in-class investor support, enabling your company to hit the ground running.
We’ll help you with:
- One-to-one business sales and support
- Immigration support and DIT working VISA connection
- Support for key employees and their families moving to the area including familiarisation visits
- Commercial property search and assistance including viewings
- Free PR support to amplify your brand with our global press contacts, maximising press attraction
- Supply chain introductions and external support programmes
- Business network introductions and speaking opportunities
- Detailed local economy data reports
- Links to local and national government via the West Midlands Growth Company
- Recruitment assistance and salary insights
- Free skills hub recruitment support
- R&D opportunities via funded university projects or regional challenges
- Ongoing quarterly account management
- Invites to regional relevant sector activities and networking events
- Introductions to our commercial network of more than 100 leading companies who can help you to establish smoothly and maximise the benefits of your investment
Turbocharge your business growth via the West Midlands Investment Zone
The West Midlands Investment Zone offers a wealth of opportunities for innovative, ambitious companies seeking to establish and scale rapidly in the UK market. Immerse your business in the UK’s fastest growing tech sector; a transformational hub offering unprecedented collaboration with some of the world’s finest universities, access to established industry supply chains and exciting investor incentives.
This is where breakthroughs begin. It starts here.
More about the West Midlands Investment Zone
