Black Country sees surge in foreign direct investment

THE Black Country has experienced a sharp increase in the number of jobs created and safeguarded by foreign owned companies over the past 12 months, according to new figures released by UK Trade & Investment (UKTI).

FDI (foreign direct investment) has created and safeguarded at least 850 jobs in the Black Country in 2013/14 and the area has seen a massive improvement in the number of new investment projects, rising to 18 investment projects in 2013/14 from only four projects the previous year.

Stewart Towe, Black Country LEP Chair, said: “Today’s figures released by UKTI are testament to the on-going work that the Black Country LEP is doing, through Invest Black Country, to promote the Back Country as an investment destination. 

“Our sector strengths, coupled to the effort we have put into raising the profile of the area, mean that we are at the head of a growing pipeline of enquiries in the automotive, aerospace and construction technologies sectors.

“David Cameron himself championed the success of the Black Country when he stated recently that ‘Made in The Black Country, sold around the world’ isn’t just a slogan – it’s a reality.

“It is highlighting that the Black Country, alongside our partners in the Midlands, is fast becoming the investment hotspot in the UK, and a real contender to London.

“The Black Country produces some of the most amazing metal products in the world, some of which ensure that buildings stand, cars run and stop and that planes fly and land. Our people are what make our businesses world class, and now we have to make sure that our place comes up to scratch.

“Our challenge is to work with partners to ensure we can continue to deliver quality sites, premises and people for businesses who wish to locate or grow in the Black Country.”

The increase in the number of investment projects in 2013/14 has been supported by a renewed focus on investment activity. Invest Black Country (IBC), the investment promotion organisation responsible for attracting potential investors to the area, has sought to capitalise on the region’s sector strengths.

Wayne Langford, head of Invest Black Country, said: “Not only has the Black Country attracted investment that created or safeguarded over 850 jobs last year, but we have also seen a considerable increase in awareness of the Black Country amongst overseas businesses and agencies.

“This has led to a strong pipeline of potential FDI projects that Invest Black Country is now working with our partners to land.”

Close