Silverstone complex to create 8,400 jobs
More than 8,400 jobs are set to be created in Northamptonshire after Silverstone Circuit submitted major redevelopment plans for the motor racing site. The planning application includes three hotels, business and technology parks and an education campus. Silverstone Holding's managing director hailed the move as "the most important initiative the company has taken in its 60-year history".
Motor racing site Silverstone presented its comprehensive outline planning application to Aylesbury Vale District Council and South Northants District Council for approval.
The plans comprise a 1.3m sq ft business park; 674,488 ft technology park; retail facilities; three hotels and a museum of motor sport.
An education campus spanning 373,055 sq ft is also included alongside an outdoor stage, kart track, bridge and tunnel to improve pedestrian traffic.
Silverstone said the development will create about 8,400 permanent jobs in the firms and activities attracted to the site, plus an average of around 550 construction jobs each year throughout the development phase.
At least 4,800 of these jobs are likely to be entirely new to the area, the company stated.
Stuart Rolt, chairman of the British Racing Drivers’ Club, said: “The submission of this planning application is a big step forward in releasing the commercial potential of Silverstone and its 760 acre estate.
"The timing of this planning application is closely linked into the process we are currently undergoing to seek potential investment from third parties that will enable us to move forward with our plans more rapidly.”
Richard Phillips, managing director of Silverstone Holdings, added: "This is the most important initiative that Silverstone has taken in its 60 year history. Things have changed dramatically since the early days.
"Approval of this planning application will help maintain Silverstone’s position as a leading global centre for sport, leisure, education and technology and support its vision of becoming a World leading motor sport destination."
Bloombridge has been appointed as Silverstone's planning and development manager on the project.
In 2009, Silverstone announced it would stage a series of developments to the site in a bid to become a world-leading motor sport venue.
Earlier this year, Silverstone’s multimillion-pound pit and paddock complex, named ‘The Wing’, was constructed as part of plans to regenerate the track.
