Construction of a new West Midlands business park is under way which is set to create 200 jobs in the region.
The regeneration of the former Coventry site of aerospace company Meggitt has now been backed by an £8.8 million investment by the West Midlands Combined Authority.
The site, off Holbrook Lane, had been home to Meggitt until the company, whose customers include aviation giants Airbus, BAE and Boeing, started moving operations and staff to new headquarters in nearby Ansty two years ago.
Five acres of the former facility is being transformed to create a new Holbrook Business Park which is expected to generate around 200 jobs once completed.
The business park is being built by Chancerygate and will have 17 light industrial units while another part of the 65-acre former development site will contain 500 new houses.
West Midlands Mayor Andy Street said: "It's heartening to see that the former home of one of our most successful companies will once again be providing quality jobs for local people.
"Throughout the pandemic, the combined authority has continued to invest in the regeneration of brownfield land and it is these investments that not only create new jobs and energy efficient, affordable homes for local people, but also reduce the pressure to build on our irreplaceable greenbelt."
Despite most of its operations being moved to Ansty, Meggitt has kept a small carbon brake facility at Holbrook Lane and the company's sports fields are being retained as open space.
Chancerygate development director Mark Garrity added: "We are very pleased that work is under way at Holbrook Business Park.
"The initial phase of a high-quality urban logistics development will support the strong demand for industrial space in the West Midlands.
"We look forward to delivering a scheme that will serve the needs of businesses in the region, as well as create new jobs."
Access to funding was provided by Frontier Development Capital.
