12 February 2021
Awarded Enterprise Zone status in March 2017, Silverstone Park has become a haven for high tech companies wanting to further grow their businesses.
Working with Buckinghamshire Thames Valley Local Enterprise Partnership, Silverstone Park was awarded Enterprise Zone status.
The new status helps to support business growth for companies based at Silverstone Park, removing barriers to expansion and enterprise, and encouraging growth for advanced engineering and manufacturing, and related supply chain activities.
Spanning 131 acres, Silverstone Park is located within the Aylesbury Vale Enterprise Zone and boasts more than 2.1 million sq ft of development land, offices and industrial units, including an Innovation Centre featuring the UK’s only dedicated sub-contract inspection Metrology Facility.
Developer MEPC’s vision for Silverstone Park – to create a global destination for engineering and innovation, and an aspirational environment supporting businesses with their growth strategies – has now become reality.
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Enterprise Zones are designed to encourage and support business growth for companies located within them. Placed at the very forefront of the Government’s long-term economic plan, Enterprise Zones were established in 2012 to assist businesses with their growth strategies by offering improved access to essential facilities, including: superfast broadband; tax incentives; discounted business rates.
Through its support of local enterprise, the Government is creating environments in which businesses can thrive, whilst supporting the local economy and creating jobs at the same time.
Between April 2012 and March 2016, Enterprise Zones across the UK enabled many successes:
As a result of these successes, 48 Enterprise Zones have now been created across the UK, offering businesses in the following sectors access to world-class infrastructure and first-class growth incentives:
Located at the heart of the Silverstone Technology Cluster, Silverstone Park is a haven for high-tech engineering and innovation, and a world leader in its sector.
Providing a high-quality environment and access to the Cluster’s specialist supply chain and skills pool, its growing number of businesses operate in areas such as aerospace/aviation, automotive, defence, marine, medical devices, motorsport, space exploration, electronics and software development.
Silverstone Technology Cluster was identified following a report commissioned by Silverstone Park developer MEPC and partners Barclays and PwC.
The report identified 3,500 companies within a one-hour radius of Silverstone Park specialising in precision engineering. It also revealed that this high concentration of related businesses is not just co-locating but is actively benefiting from relationships within the Cluster and the specialist skills pool that exists here.
By designating Silverstone Park an Enterprise Zone, businesses operating within the advanced engineering and manufacturing sectors can gain access to benefits that support and accelerate growth and expansion.