Salamanca Group welcomes Chancellors ‘investment zone’ announcement


Salamanca Group are delighted that the Government has announced a portfolio of investment zones in the Growth Plan 2022, naming the Group’s principal investment, Gravity, as a destination for economic growth in the UK.

Gravity is a 616 acre enterprise zone in Somerset and is a strategic destination for international investment in the UK, and is at the forefront of enabling an accelerated response to tackling climate change. The Gravity site is in a ‘ready state’ and is primed for a rapid response. The ambition is to host large-scale advanced manufacturing – a gigafactory – creating up to 7,500 higher-value jobs and supply chain opportunities for businesses across the South West.

This strategic refocus on enterprise zones and their modernisation with ‘freeport thinking’ is exactly what is needed to attract international business and transformational investment into the UK to create a forward-facing and clean economy. Somerset and Sedgemoor District have been a key pioneer in economic development and delivery and we are excited about responding to this new opportunity to deliver a new clean growth revolution.

The adoption of the Gravity Local Development Order has enabled us to provide the flexibility to host 1.1 million square metres of commercial floorspace, as well as accommodating up to 750 homes for the workforce. We are working collaboratively with potential occupiers and Bridgwater and Taunton College on plans to create a talent to meet occupier needs.

Martin Bellamy, Chairman at This is Gravity & Salamanca Group, said “This announcement is of great significance to the UK. It demonstrates the economic reality that the UK must be highly competitive in a global market place to thrive and progress. We are immensely proud that Gravity will play a leading role in the UK’s transition towards a clean growth economy. We look forward to working closely with Government and stakeholders to bring a UK Gigafactory into reality.”

Claire Pearce, Director – Planning & Economic Development at Salamanca Group and This is Gravity, added “This announcement marks a transformational step change in the UK’s economic growth plans and aligns with the Gravity smart campus ambition to create 7,500 high value jobs in a future facing industry at the heart of the South West.  We are delighted with the focus on delivery and stand ready to work with Government to turn plans into action on the ground”.


About Salamanca Group

Salamanca Group is a privately-held Merchant Banking business, home to experts in global investment and advisory, with a focus on real estate. Salamanca Group’s real estate team has operated across the globe, purchasing land, developing sites and buying businesses related to the sector. The Group’s focus is on large projects in the UK having divested many of its overseas assets. The Group works with clients to enable their business, protect their assets and grow their capital.