The GIC connects key assets at the University of Wolverhampton’s Springfield Campus, Science Park, and the i54 advanced manufacturing business park – the country’s most successful Enterprise Zone.
It will introduce new commercial and business opportunities for development, incubation space, grow-on space for SMEs and space for larger use – all helping to create and safeguard jobs for local people.
The GIC has already secured £20million Local Regeneration Fund (LRF) capital funding from UK Government and a further £7million through West Midlands Investment Zone status, to help unlock transformational business support and skills programmes.
The council’s Cabinet will meet next Wednesday (December 10) to agree a plan that will see the LRF grant assigned to projects managed by the university and the council.
It will support the further development and expansion of the university’s facilities at the Springfield Campus to maximise opportunities for Research and Development, commercialisation and collaboration and engagement with businesses in the fields of engineering and construction.
The council will make improvements to lighting, wayfinding, highways and the underpass to provide safer and more accessible walking and cycling routes between Springfield Campus and the city centre – also encouraging further investment in housing and employment.
Extra substation capacity at University of Wolverhampton Science Park will enable the transition of space from offices to laboratories and the potential for more companies and jobs at this location, also supporting the transition to net zero.
Councillor Chris Burden, City of Wolverhampton Council Cabinet Member for City Development, Jobs and Skills, said: “The Green Innovation Corridor will drive the Green Industrial Revolution, building upon Wolverhampton’s sustainable construction, green credentials and circular economy for transformation that will create quality jobs and training opportunities for local people.
“The council and university have an extensive track record of working together with developers and investors to deliver transformative regeneration projects and we are already in active discussions with businesses seeking to locate at GIC and be part of a community of innovators.”
Dr Pete Cross, Chief Operating Officer, University of Wolverhampton, said: “The next phase of the Green Innovation Corridor will accelerate Wolverhampton’s position as a hub for sustainable innovation. By expanding our research capabilities and creating spaces for collaboration, we will enable businesses to develop cutting-edge solutions in green construction, advanced manufacturing and engineering. This investment is about driving growth, nurturing talent and ensuring that Wolverhampton leads the way in the transition to a net zero economy.”
The £7million West Midlands Investment Zone funding has been allocated to the first phase of GIC, for which a hybrid planning application has been put forward for the redevelopment of four brownfield sites, collectively known as Six Mile Green, located close to University of Wolverhampton Science Park.
It comprises detailed plans for ground remediation, site clearance, service infrastructure and enabling works and outline plans for new buildings providing around 20,000sqm of mixed use commercial floorspace.
If the plans are approved, then WM Investment Zone funding will be used to carry out preconstruction works by March 2027, which will support prospective developers by providing development-ready sites for design and build construction.
