The grant has been awarded by the Business Growth West Midlands team at Coventry City Council with funding from the UK Shared Prosperity Fund – after receiving support from the Coventry and Warwickshire Chamber of Commerce.
Futura Design, which is headquartered on Stonebridge Trading Estate, said the money has helped to fund nearly half the cost of a new state of the art paint booth to help with the development of new colours and finishing of high-end automotive prototypes.
As a result, the company is now able to meet the rising demand for its paint development and finishing services from major names such as Jaguar Land Rover, Bentley and Aston Martin, as well as emerging electric vehicle manufacturers.
The latest investment follows the firm expanding its footprint with the opening of a purpose-built design centre in Leamington Spa earlier this year which is set to increase its modelmaking capacity, as well as the growing paint and colour development services. The new facility will include a Color, Material, Finish (CMF) suite, a polishing/inspection tunnel and a viewing garden.
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“This additional paint booth means we now have more capacity, while also being able to recruit additional staff – and is a key part of our growth plans, alongside the new design centre to ensure we are at the forefront of emerging technologies,” Daniel Abel, Director at Futura Design, said in a statement.
“Electric vehicles are soaring in popularity, and this is reflected in the demand for prototypes, and is an area we are gearing up to support over the coming years, while also supporting other sectors such as aerospace, marine and public transport.”
Councillor Jim O’Boyle, Cabinet Member for Jobs, Regeneration and Climate Change, added: “This is a great example of how collaboration between local organisations can boost our economy. Like many companies in the city – Futura Design is making a name for itself in a rapidly growing sector. The green industrial revolution is here and it’s great to see another local company leading the way and using a grant to grow and create new jobs for local people.
“This is a really important new sector and that’s why our emerging Climate Change Strategy and our work in partnership with E.ON is so important. This is not only where there will be new jobs, it’s also where we can work to ensure a just transition across the city and tackle inequalities.
“Our expert team offers financial and non-financial support, and I would encourage any local business looking to grow to get in touch so find out more about the full range of support.”
