Council approves £20m green industries funding for Wolverhampton
Councillors have approved £20m of funding as part of its aim to capitalise on Wolverhampton’s role in sustainable construction.
The Wolverhampton Green Innovation Corridor (GIC) is set to drive green industries and skills through a partnership between the city council and the University of Wolverhampton.
Cabinet members approved the capital budget for the scheme, using £20m of Levelling Up funding from the former government to fuel plans.
Initial phases will centre on the Springfield Innovation Hub, designed to be net-zero carbon and situated at the University of Wolverhampton’s £120m Springfield site. Future phases include ‘Six Mile Green’ at Wolverhampton Science Park and Cross Street North.
The long-term vision involves connecting key assets at the Springfield Campus, Wolverhampton Science Park, and the city centre with the advanced manufacturing cluster in the north of Wolverhampton.
A further £7m is expected to be invested through the new West Midlands Investment Zone, which is expected to leverage £5.5bn of private investment and create more than 30,000 jobs.
Funds will be used for land remediation and key infrastructures in the science park, generating up to 750 jobs, and 17,000 sq m of R&D and commercial space.
The West Midlands Combined Authority (WMCA) board met in Wolverhampton in June to approve the 25-year proposals which focus on driving growth in advanced manufacturing, green industries, health tech and underlying digital technologies.
The two remaining projects in the zone are:
The Coventry-Warwick Gigapark at Coventry Airport. Anchored by a new battery gigafactory and associated businesses and technologies, the site will get tax incentives, business rates retention and £23m investment for land remediation, infrastructure and connection to power grids
The Birmingham Knowledge Quarter – running northeast from the Birmingham City and Aston universities through Duddeston and Nechells to Aston. The Quarter will offer tax incentives, business rates retention and receive £9m investment for public realm works and active travel infrastructure to help attract investment
