A hi-tech business is expanding rapidly and creating jobs boosted by business rates relief provided by the Buckinghamshire Enterprise Zone as a Buckinghamshire Local Enterprise Partnership programme.
3C Test which specialises in Automotive Electromagnetic Compatibility (EMC) testing, expanded into new premises in Silverstone Park last year and is benefiting from rates relief for five years thanks to being in the Buckinghamshire Enterprise Zone.
So far, the firm has saved £140,000 which it has re-invested into the business with 15 jobs created and recruitment taking place for 10 more staff to add to the 50-strong workforce.
General Manager Steve Youngman said: “The rates relief has been a godsend. By the time we reach the end of the five years the expansion part of the company will be much more mature in that building.”
3C Test moved to Silverstone Park 15 years ago, taking an industrial facility on the Northamptonshire side of the park. Having increased the full vehicle testing and add, the move to the second facility within the Buckinghamshire Enterprise Zone signalled an expansion into electric vehicle battery Dynamic and Environmental testing.
To create the new test facility, 3C Test’s parent company Applus+ Laboratories invested £4m with a further £2m grant coming from the South East Midlands Local Enterprise Partnership (SEMLEP).
That went into fitting out the 24,176 sq ft building and investing in hi-tech equipment. The facility now includes the EMC, temperature, humidity and thermal shock testing, salt spray and drop test capabilities, shock and vibration testing and an altitude chamber. The combination makes it a unique facility in the UK.
Steve said: “While we know the EMC side of the business, the rest has been like entering a new market, but the rates relief has been a fantastic help. We’ve had to learn a lot, employ staff with a particular skill set and gain accreditation, all during the Covid period.
“But we have a five-year business plan for the new facility which will see us generate the profit required to provide a healthy return on the investment.”
Richard Harrington, Chief Executive of the Buckinghamshire Local Enterprise Partnership said: “3C Test is based at the heart of the Silverstone High Performance Technology Cluster within the Buckinghamshire Enterprise Zone and we are delighted to assist the company in its expansion into new, innovative technologies.
“Advanced engineering is one of the four pillars of our local industrial strategy, and we’re thrilled to be supporting 3C Test with this unique UK facility. Expanding capabilities into a new market and developing an impressive hi-tech facility through lockdown was no mean feat and the company’s growth is incredibly impressive.”
The business rates relief was available to eligible companies who located to the Enterprise Zone by March 2021.
Bucks LEP is a business-led Local Enterprise Partnership which promotes economic growth and prosperity across Buckinghamshire. Buckinghamshire is a significant wealth generator for the UK economy and the commitment of more than £73m in Local Growth Funds is unleashing ambition and creativity in the county. This funding is enabling the delivery of better skills and business opportunities and enhanced digital connectivity to support sustainable economic growth in the county.
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