Key benefits
Only UK Gigafactory site with Investment Zone Status
Part of the West Midlands Investment Zone which means significant tax incentives and breaks for investors for up to 10 years*. These include:
- Stamp Duty Land Tax Relief
- 100% Business Rate Relief on newly occupied premises
- 100% first year Capital Allowances for expenditure on new plant and machinery
- Zero rate employer national insurance contributions for 36 months for each new job created
- Enhanced Structures and Buildings Allowance
- Investment Zone status provides investors with additional support in the areas of supply chain and skills development as well as innovation and R&D.
For more information about the site and potential incentive packages, please contact our team.
*up to 10 years from 1st April 2024
Only UK Gigafactory site with Investment Zone Status
Additional UK Government incentives
The UK Government has outlined announced additional measures to encourage investment in strategic manufacturing sectors, including;
Automotive Transformation Fund: An additional £2bn to support the manufacture and development of electric vehicles, including batteries in the UK
Green Industries Growth Accelerator: £960 million to support clean energy manufacturing, and will support the expansion of strong, home-grown, clean energy supply chains across the UK, including carbon capture, utilisation and storage, electricity networks, hydrogen, nuclear and offshore wind
Investment Opportunity Fund: £150 million to support Investment Zones and Freeports across the UK to secure business investment