With all the excitement of this weekends (7 – 9 July) Grand Prix at Silverstone, it is easy to forget there is far more going on at Silverstone than just Formula 1.
Buckinghamshire Local Enterprise Partnership’s (Bucks LEP) Silverstone Enterprise Zone, next to the Silverstone Grand Prix Circuit and at the centre of the Silverstone Technology Cluster, is a global destination for innovation, business development, and engineering.
Silverstone Enterprise Zone is attracting businesses of the calibre the Multi-world Champion Mercedes-AMG Petronas Formula 1 Team, David Brown Automotive, Lunaz, Saietta and the Digital Manufacturing Centre. Retained business rates to the value of £6.5m have been invested into a new multi-utility trench to accelerate the delivery of future development.
In addition, Buckinghamshire LEP Local Growth Funding has supported the creation of the Silverstone Sports Engineering Hub (SSEH), an Innovation Centre providing businesses access to the UK’s premier aerodynamics facility for racing cycles (including current Tour de France teams) and sports equipment, which includes two wind tunnels and a sports fabrics R&D centre with other facilities about to be announced.
Rob Lewis, TotalSim and SSEH Director, said: “Tapping into the world class high-tech skills pool around Silverstone enables us to create a unique innovation incubator for companies in sports engineering and services which we predict will have global appeal.”
The Enterprise Zone (Site K at Silverstone Park) is providing up to 99,500 sq.m of new commercial floor space and aims to create over 1,200 jobs. Phase 1 (11,665m2) completed in 2017 and is fully occupied. Phase 2 (23,990m2) completed in 2020. Phase 3 (24,632m2) completed in 2022 with further phases to follow.
Matt Peachey, Head of Enterprise Zone Development for Bucks LEP, said: “The Silverstone Enterprise Zone exists to help advanced engineering, electronics and software businesses around Silverstone with promotion and growth through partnerships. Businesses can benefit from being part of expanding specialised business cluster, which is bringing together specialist expertise and knowledge, and developing indigenous industrial/research strengths.”
Buckinghamshire LEP acts as a facilitator through its close contacts with the businesses at Silverstone and knowledge of their needs and aspirations. By bringing businesses together and igniting conversations across specialist cluster groups, the aim is to deliver mutually beneficial growth.
Matt added: “We know that by making introductions and encouraging collaboration, and addressing shared opportunities and challenges, businesses can help each other drive innovation and prosper.”
Working with our Enterprise Zone partner MEPC, there are currently exciting investment and development opportunities across the Silverstone site. For further information about these business opportunities, please visit: www.bucksez.co.uk or contact Matt Peachey, Enterprise Zone Manager on 07740 511976 or email: matt.peachey@buckslep.co.uk
Silverstone is an international brand and the home to Formula 1, with seven of the 10 F1 teams in close geographic proximity to the circuit. Around 3,500 companies associated with motorsport are based in the area employing around 40,000 people, including around 80 per cent of the world’s high-performance engineers.
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