The plan's focus is the development of a new Engineering Centre and an improved Technology Park, within MIRA's existing 750 acre site, as part of a £250 million investment that would enable the business to build on its unrivalled reputation for engineering excellence and lay the foundations for growth over the next 30 years.
Commercial Director, MIRA Technology Park Ltd, Terry Spall explains: "Whilst our work is at the cutting edge of what is possible using technology, we have many buildings, including our main office block, that date back to the 1950's and despite improvements over the years they are environmentally inefficient and far from ideal.
"We have achieved 30% growth over the past year, recruited 70 new staff and our current Technology Park - which is home to 32 world-class companies - has reached capacity. We are now in danger of missing business opportunities as a result, which places a serious constraint on our ability to grow further."
Employing 450 staff - predominantly engineers and technicians - MIRA is the largest local employer and its vision to build modern, environmentally sustainable office space integrating state-of-the-art workshops, as well as a dedicated adjacent business campus, could attract more high-quality companies to the site and generate jobs requiring a variety of skill levels.
MIRA has now entered into discussions with partners, including Hinckley & Bosworth Borough Council and local residents to refine its plans - which also incorporate cycle paths and sports facilities accessible to the community, as well as the additional lakes and trees - before planning permission is sought.
Commenting on what the development could mean to the area Councillor Stuart Bray, Leader of Hinckley and Bosworth Borough Council, said: "MIRA's plans represent a huge boost for jobs in Hinckley and Bosworth borough as well as being really good news for the regional economy too. MIRA's commitment to expand their operations in this area show a great vote of confidence in their existing workforce and the potential of people who live in this area, recognising their contribution towards making MIRA a world-leader in advanced engineering."