Nottingham leads the way in foreign investment rankings
The Midlands Engine region has recorded its highest number of foreign direct investment (FDI) projects in the past decade, with an 8% increase in 2017 compared to the previous year – up from 130 to 140.
According to EY’s 2018 UK Attractiveness Survey, the Midlands Engine lags behind London (459 projects), the Northern Powerhouse (235 projects) and the southern region of England (203 projects), but is ahead of Scotland (116 projects).
The figures show that, although the East Midlands remains third from bottom in the number of FDI projects attracted with 43, that figure has risen by 16% – the fifth highest rise of all 12 regions.
Nottingham leads the way for FDI in the East Midlands with six foreign investments in 2017 – up from just 1 in 2016.
UK Region | 2017 Projects | 2016 Projects | % Change 2016–17 |
Greater London | 459 | 446 | 2.9% |
Scotland | 116 | 108 | 7.4% |
North West England | 105 | 90 | 17% |
West Midlands | 97 | 93 | 4.3% |
South East England | 91 | 72 | 26% |
Yorkshire and the Humber | 82 | 80 | 2.5% |
East of England | 59 | 40 | 48% |
South West England | 53 | 38 | 39% |
North East England | 48 | 52 | -8% |
East Midlands | 43 | 37 | 16% |
Wales | 33 | 40 | -17.5% |
Northern Ireland | 19 | 42 | -54.8% |
UK | 1,205 | 1,138 | 6% |
Simon O’Neill, managing partner at EY in the Midlands, said: “The Midlands Engine vision for growth is attractive on the international stage and it’s positive that we are seeing it translate into record levels of investment across a broad spectrum of sectors and importantly creating jobs.
“Although projects recorded in Birmingham were down 34% year on year in 2017, the city still ranks in fourth position in the top 20 inward investment locations in the UK. The fact that Coventry, Solihull and Nottingham also make the top 20 as significant locations attracting serious inward investment is also major cause for celebration.”