8.8-million-pound investment will bring 200 jobs to Coventry
There was an announcement of an 8.8-million-pound investment into the regeneration of the former Coventry site of a leading aerospace company Meggitt. The investment was secured by the West Midlands Combined Authority. Once the regeneration has been completed, it is expected to be a business park.
The investment is a part of the WMCA brownfield first initiative, which is to transform hundreds of acres of land into affordable housing and future job opportunities around the West Midlands. Earlier this year the WMCA had also secured planning permission for 500 new homes on another part of the site.
Andy Street, Mayor of the West Midlands, and chair of the WMCA, visited the Holbrook Lane scheme to see the work underway.
He said: “It’s heartening to see that the former home of one of our most successful companies will once again be providing quality jobs for local people thanks to the WMCA’s cash.
By the WMCA having this initiative it will allow Coventry to grow more as a city and rebuild itself after the pandemic. Statistics from the office of national statistics show that unemployment in Coventry had dropped from 5.1% to 5% from November 2020 to January 2021. From this there is clear evidence that Coventry have improved their jobs policy and the brownfield first initiative will hopefully continue to decrease unemployment.
