A consortium of West Country business and academics are hoping to break the land speed record. The Bloodhound Project has the backing of Rolls Royce and the University of the West of England, to name just two.
Chancellor George Osborne has praised the work of the Bristol team behind the project to build the world's fastest car.
Speaking at the Conservative Conference in Manchester, he said the Bloodhound, which will aim to beat the world landspeed record, was an example of the pioneering work still being carried out in the UK.
The next step in developing a rocket-powered car capable of travelling at one thousand miles an hour took place in Bristol today. The team behind the supersonic 'Bloodhound' unveiled their new technical headquarters.
The centre was opened by Science Minister David Willetts, who announced a one million pound grant for the project. Engineers hope the car will easily break the land speed record when they make an attempt in 2015. Jonty Messer reports: