£19.4 Million RGF Grant Paves Way for Advanced Independent Transport Technology Facility

 MIRA – the advanced engineering, research and testing facility located to the north west of Hinckley has received £19.4m from the Regional Growth Fund established by the Coalition to boost business growth.

The RGF bid from MIRA was among the top 15% received by government in value terms and among the 119 successful applications announced yesterday as part of a second, much larger, round of spending from the £1.4bn fund.

MIRA was also awarded Enterprise Zone status in August and news of the £19.4m RGF boost is further evidence that the engineering business’ planned £300m expansion and aim to become the most advanced, independent transport technology development in Europe is attracting interest and considerable support at the highest levels.

Commenting on the outcome of MIRA’s bid Chief Executive Officer George Gillespie said: 

“Having met with Nick Clegg MP earlier this year to explain our engineering capabilities, the job creation potential and inward investment opportunities that our expansion represents, I’m very gratified with this result – which will help to create over 2,000 jobs.

“This is an excellent example of government working together with the private sector to encourage growth and investment – which in our case has been critical for the creation of the 155,000sqm MIRA Technology Park development which will incorporate a new MIRA engineering centre and will firmly establish both the region and the UK as a centre of excellence in transportation R&D.”

The RGF money will be used to improve the road infrastructure surrounding MIRA – specifically key junctions along the A5 – improving traffic flow and mitigating congestion at known bottlenecks and accident blackspots as well as accelerating the pace at which the business’ re-development of its 830 acre site is able to proceed by reducing the amount of private investment required.

MIRA has worked closely with both of its neighbouring local authorities throughout the bid process to ensure that they were aware of and prepared for the growth opportunities ahead. On hearing the positive news, Councillor Stuart Bray, Leader of Hinckley and Bosworth Borough Council said:

“I am delighted with this fantastic news which is great for MIRA and great for the Borough. This will help guarantee the delivery of over 2000 new jobs to the area, many highly skilled. It will also secure major, much needed improvements to the A5, particularly at the notorious Redgate, Longshoot and Dodwells junctions.

The Council has worked closely in partnership with colleagues at MIRA on the bid and will continue that work on helping deliver the exciting plans for the new world class transport Technology Park.”

To find out more about MIRA’s development plans visit www.miratechnologypark.com.