Existing jobs will be secured, and more jobs will be created after the Silverstone based SportPesa Racing Point F1 Team had planning permission for their new headquarters approved.
On Thursday, 31 October South Northants Council’s (SNC) Planning Committee granted permission for the 15,000 sqm HQ building with workshops, design space, over 600 parking spaces and a helicopter landing pad.
As well as safeguarding existing jobs, it is predicted the new building will create at least 50 more.
Cllr Phil Bignell, SNC’s deputy leader and portfolio holder for planning, said: “The building itself will be a ‘showcase’ building, which is well designed to mark Racing Point’s presence in the Formula 1 world.
“Their ambitions of challenging at the top of the sport means ongoing development of the business and the need for more space for team activities.
“The existing building has outgrown its functional use and historically, some of the team’s development work has been undertaken off-site at a secondary testing site in Brackley.
“A lot more of that work can now be undertaken within the new building.”
Cllr Stephen Clarke, SNC’s portfolio holder for economic growth, said: “Motorsport is part of the high tech sector which accounts for 10 per cent of all employment in the district and it brings real jobs supporting hard working families.
“It makes us very proud to see further investment in the district’s high-performance engineering sector and we hope Racing Point F1 will go from strength to strength and continue to demonstrate the skills and expertise which can be found in South Northamptonshire.”
Following this year’s deal which ensures the British F1 Grand Prix will be held at Silverstone Circuit for at least the next five years, along with this investment, South Northants has confirmed its reputation as an attractive place for motorsport teams and high-tech businesses to operate.