The proposed Coventry-Warwick Giga Park incorporating the Coventry airfield site as well as the neighbouring Segro Park and Whitley South are sites where bespoke funding and incentives could be made available for businesses choosing to set up there.

Having recently joined the West Midlands Combined Authority (WMCA) as a non-constituent member, Warwick District Council is central to plans for developing these three sites. Coventry Airport has been earmarked for the creation of a gigafactory for battery production, further enhancing the green energy sector.

It’s been agreed that Warwick District Council can invest up to £90.2m over 25 years of the business rates generated from the Segro Park and Whitley South sites in local growth initiatives across the district, offering the Council increased financial certainty for the future.

Councillor Ian Davison, Leader of Warwick District Council commented: “The Council has committed substantial resources into making the investment zone a success. An electric battery gigafactory and a surrounding cluster of green manufacturing industries would be a massive help in transitioning the country to a low cost, low carbon economy.

"We must now develop local growth initiatives that maximise benefits for local residents. I am therefore pleased that all the Council’s political group leaders agree with the Memorandum of Understanding (MoU) with partners West Midlands Combined Authority (WMCA), Coventry City Council and Warwickshire County Council (WCC) so that we can move forward with these ambitious and exciting plans.”