MIRA motors ahead with £250m development plans

MOTOR industry research body MIRA has announced multi-million pound plans to develop its advanced engineering, research and testing facility at Hinckley with a view to attracting new investment and jobs to the Midlands.

The advanced engineering, research and testing facility is situated on the A5 to the north west of Hinckley – today announced the first details of a business development plan that could create up to 2,000 jobs and attract additional business investment to the region over the next ten years.

The plan’s focus is the development of a new Engineering Centre and an improved Technology Park, within MIRA’s existing 750 acre site, as part of a £250m investment that would see the business build on its reputation for engineering excellence and lay the foundations for growth over the next 30 years. The plan could see the creation of 2,000 jobs to the area during the next decade.

Terry Spall, commercial director, MIRA Technology Park Ltd, 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 1950’s and despite improvements over the years they are environmentally inefficient and far from ideal.

“We have achieved 30% 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.”

Employing 450 staff – predominantly engineers and technicians – MIRA is the largest local employer. It said its vision to build modern, environmentally sustainable office space integrating state-of-the-art workshops, as well as a dedicated adjacent business campus, could attract more high-quality companies to the site and generate jobs requiring a variety of skill levels.

MIRA has entered talks with partners, including Hinckley & Bosworth Borough Council and local residents to refine its plans – which also incorporate cycle paths and sports facilities accessible to the community, as well as the additional lakes and trees – before planning permission is sought.

Cllr Stuart Bray, leader of Hinckley and Bosworth Borough Council, said the plans represented a huge boost the area, helping to stimulate jobs and investment.