Latest news-in-brief from the county and region...

More details on JLR £15bn electric future

Jaguar Land Rover released details on the value of investment and how it will impact key UK sites in the coming years. The move is part of a £15bn global investment by the car giant in electric vehicles over the next five years. The firm announced its new Jaguar models would be assembled at the company’s plant in Solihull with its existing engine manufacturing centre in Wolverhampton transformed into a hub for building electric motors. It said it would be renamed the Electric Propulsion Manufacturing Centre and produce electric drive units and battery packs for JLR’s next generation vehicles.

https://www.bbc.co.uk/news/articles/c6pn2vrd6leo

 Aston Martin makes senior appointments around industrial and electrification leadership

Gaydon-based motor manufacturer Aston Martin Lagonda has hired Vincenzo Regazzoni to the newly created position of Chief Industrial Officer, overseeing all manufacturing operations. It has also announced the appointment of Giorgio Lasagni as Chief Procurement Officer. Both held  senior positions at Ferrari and Maserati.

https://www.businessinnovationmag.co.uk/aston-martin-strengthens-industrial-and-electrification-leadership-with-new-senior-appointments/

Contechs in pole position with new appointment

Contechs, the automotive design and engineering consultancy with a base in Warwick, has added to a recent string of high-profile senior appointments, with Jonathon Neale as Strategic Growth Non-Executive Director. The former McLaren Group Chief Operating Officer and McLaren Racing F1 Chief Executive Officer brings 35 years’ experience working with global leaders in high performance and F1.

https://www.businessinnovationmag.co.uk/contechs-signs-former-mclaren-f1-chief/

Coventry University electrifies JLR workforce

Jaguar Land Rover has teamed up with Coventry University to upskill its workforce in electric vehicle development. The university has provided a pilot training scheme with JLR to build skills within its workforce to develop systems underpinning electric vehicles. This pilot has led the way for the university to continue its training courses for more than a thousand workers from January 2023.

https://www.insidermedia.com/news/midlands/jlr-partners-with-coventry-university-on-upskilling-drive

 Allelys Heavy Haulage secure funding from Lloyds Bank to grow

Studley based Allelys Heavy Haulage Ltd, who specialises in the transport of heavy items like train carriages, is expanding its fleet of heavy lift cranes with the help of a finance package from Lloyds Bank. Established in 1959 and with a current workforce of more than 160 people, Allelys has seen a recent uptick in demand for its services. The company has become better known in recent years from due to featuring on its own Yesterday  TV series, Train Truckers.

https://www.businessinnovationmag.co.uk/allelys-heavy-haulage-looks-to-grow-with-support-from-lloyds-bank/

Games developer grows revenue to £40m

Revenue neared the £40m mark at a Leamington Spa-headquartered developer and publisher of mobile video games during its latest financial year, new documents have confirmed, with the company boosted by its first acquisition and the launch of a technology hub in Portugal. Kwalee is behind several prominent titles such as Draw It, Shootout 3D, Jetpack Jump, Rocket Sky!, and Bake It and Line Up: Draw the Criminal.

https://www.insidermedia.com/news/midlands/revenue-nears-40m-at-game-developer

West Midlands to grow screen industry skills base

Training opportunities to help people secure jobs in the screen industry are set to open up in the West Midlands following the award of £1m towards a new BFI Skills Cluster. Funding from BFI’s National Lottery Skills Fund has been secured by Create Central and will be topped up with more than £1.6m creative skills support funding from the West Midlands Combined Authority (WMCA). It aims to fill skills gaps in the screen industry and develop clear pathways for people, especially those from disadvantaged and under-represented backgrounds, for a long-term career in film and television production and the wider creative sector.

https://www.insidermedia.com/news/midlands/west-midlands-selected-as-bfi-skills-cluster

 Major universities establish ‘Midlands Mindforge’ to invest in local start-ups and spin-outs

Aston University and the University of Warwick have joined six other research-intensive Midlands universities to form an investment company for early-stage technology business. Midlands Mindforge plans to raise up to £250 million from institutional investors, strategic corporate partners, and other qualifying individuals.  The Midlands Innovation partnership also involves the University of Birmingham, Cranfield University, Keele University, University of Leicester, Loughborough University, and University of Nottingham.

https://www.insidermedia.com/news/midlands/midlands-universities-launch-250m-investment-vehicle

 Medtech company raises £3m to develop world first patch to treat the symptoms of menopause

University of Warwick spinout Medherant has raised almost £3 million to develop a testosterone patch for women suffering adverse symptoms from the menopause, in a funding round led by Mercia Asset Management. If trials are successful, Medherant’s product would become the only testosterone patch available worldwide.

https://www.businessinnovationmag.co.uk/medherant-raises-3m-to-develop-worlds-first-testosterone-patch-for-menopause/

Three good reasons to dine out in Warwickshire, according to the latest list of Michelin Star restaurants

The annual Michelin Star guide is a welcome friend to diners who are looking for somewhere to enjoy that special meal. The star ratings range from one star which implies high quality, two which signals excellent with three stars indicating exceptional cuisine. Salt, Stratford-upon-Avon, The Royal Oak, Whatcote near Shipston-on-Stour and The Cross, in Kenilworth, all feature on the list.

https://www.businessinnovationmag.co.uk/full-list-of-michelin-star-restaurants-in-the-west-midlands-2023/

Construction Begins for first Warwickshire Property Development Group Scheme at Southam

Sucham Park is a 42,000 sq ft industrial scheme and will deliver nine new commercial units to support a wide range of businesses at Holywell Business Park, which forms part of the established Kineton Road Industrial Estate in Southam. Warwick-based MCS Group has been appointed as the construction partner for the scheme and work is expected to be completed in winter 2023.

https://www.businessinnovationmag.co.uk/work-underway-on-first-construction-project-from-warwickshire-property-development-group/

SME industrial development scheme comes to Exhall

Construction work has started on a major multi-let industrial development in Exhall. Brought forward by Barwood, in partnership with Deeley Construction, the scheme will develop 78,000sqft of accommodation to Exhall, close to J3 of the M6, on a development known as Exhall Gate. It will provide industrial space in units ranging from 2,000 sq ft to 27,500 sq ft, ideal for SME businesses.

https://www.insidermedia.com/news/midlands/work-starts-on-multi-let-industrial-development

Unfilled Vacancies still a break on economic growth

The latest figures from the ONS showed that the unemployment rate has crept to 3.8 per cent but that there are still more than one million job vacancies in the UK economy. The labour market remains tight and is dragging on economic growth, according to Coventry and Warwickshire Chamber of Commerce.

https://www.businessinnovationmag.co.uk/unfilled-vacancies-still-a-major-headache-for-business-coventry-and-warwickshire-chamber-of-commerce/

Coventry top UK city in UK for entrepreneurial growth

Coventry has seen the launch of more businesses over the last year relative to its population than any other UK city, according to analysis from Instant Offices. When taking population and year-on-year growth into consideration, the nation’s capital was no match for the Midlands, as Coventry topped the list of the UK’s largest cities with Birmingham in close second.

https://www.businessinnovationmag.co.uk/coventry-ranks-highest-in-uk-for-entrepreneurial-growth-finds-instant-offices/

Challenges facing rural small firms reviewed in new FSB study

Small firms in rural areas face a unique set of challenges that will continue to stunt their growth unless policymakers step in to make serious change, a new Federation of Small Businesses (FSB) report shows. The Growth Belt: Supporting Rural Small Businesses highlights the way rural businesses are struggling against a backdrop of mounting energy costs, poor transport links, and unreliable broadband.

https://www.businessinnovationmag.co.uk/rural-small-firms-present-new-ideas-to-become-economic-growth-belt-against-backdrop-of-inequalities-fsb/