Overseas investment boosting jobs

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Investment by overseas companies created or safeguarded 2,443 jobs in the south west region over the last year, UK Trade & Investment (UKTI) announced yesterday.

The inward investment figures were announced at the UK Trade & Investment Business Summit attended by over 100 of the UK’s leading investors.

In the south west, 1,062 jobs were created, 1,381 jobs were safeguarded and 2,443 associated jobs were created by 79 projects.

Ellen Stallins, head of inward investment at the South West RDA, which works with UKTI to attract companies to the region, said:

“We bring organisations together to ensure that opportunities for inward investment are not missed and make companies aware of the market opportunities in the region. We have had particular success in the aerospace, business services, renewable energy and engineering sectors having attracted companies from all over the world including mainland Europe, USA, Australia, Japan, China and India.

“There is a strong case for the role of the public sector in promoting these opportunities as we are able to take a strategic overview and make sure regional networks which support business growth are working effectively.”

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Chief Executive of UKTI Sir Andrew Cahn said: “Today’s results are a real vote of confidence in the South West, but we must work harder to continue to attract inward investment in what is a very competitive global marketplace.

“Overall, inward investment fell by 10 per cent across Europe, but the UK remains the number one destination in Europe for FDI.

“UK Trade & Investment is committed to attracting high quality investment into the south west, which is so important for the UK’s economic recovery.”