Department for International Trade results show 26% increase in FDI
The Department for International Trade has released its annual national inward investment figures for the UK, showing that this year Yorkshire and the Humber saw an investment increase of over a quarter (26%), securing 132 successful foreign direct investment (FDI) projects, creating and safeguarding over 3,800 jobs.
The success of the Yorkshire and Humber region is supported by a strong year for Leeds City Region which has seen a pronounced increase in its levels of FDI over the financial year. The City Region has seen a particular increase in the number of projects from the digital sector, with investments into the region by the world’s leading digital sports content and media company Perform Group and American owned digital marketing agency Fractl, included in the Department for International Trade’s 16/17 results.
Commenting on the report, Kersten England, Chief Executive of Bradford Council and Leeds City Region Enterprise Partnership’s (LEP) lead Chief Executive for Business, Innovation and Growth, said:
“I’m delighted with the results published by the Department for International Trade which show how our region is continuing to increase its share of foreign investment. These figures show that the concerted effort which our City Region has made to promote itself as a key location for business growth within our priority sectors of financial and professional services, digital, healthcare and life sciences, and advanced manufacturing, is working.
“This is just the latest report which recognises our region’s successful approach to attracting investment, with EY’s 2017 Attractiveness Survey highlighting that 70% of the Yorkshire and Humber region’s investment successes took place within our City Region. In fact, our more proactive approach to inward investment has been further vindicated by the recent announcements from Burberry and Covance that they are both making new investments in the region and growing their presence here.”
Marian Sudbury, director of the Northern Powerhouse for the Department for International Trade (DIT) added:
“The Leeds City Region’s approach to attracting foreign investment sets a fantastic example, increasing investment and creating jobs. I am confident the City Region will continue to build on its recent success attracting even more attention for the Northern Powerhouse from across the globe.”