North West tops inward investment league

THE NORTH West continues to be the most popular region for foreign investors anywhere in the UK outside of London and the South East.

New figures inward investment figures measuring foreign direct investment (FDI) in the region showed that it attracted 179 investment projects last year, creating or safeguarding 13,486 jobs. This represents three more projects than a year ago, and 23 more than in the previous year.

It is the fourth consecutive year that the North West has attracted more direct investment than anywhere outside the South East. A total of 7,084 jobs were created and 6,402 were safeguarded as a result of new investment.

The figures were announced at a summit of overseas investors organised by UK Trade & Investment and addressed by Prime Minister David Cameron.

“Attracting and retaining inward investment is hugely important for our economic recovery,” said Mr Cameron.

“We are determined to deliver the pro-business environment investors need; getting the deficit down to create certainty and stability, cutting business taxes, delivering flexible employment and cutting red tape and regulation.

The North West Regional Development Agency’s chief executive, Steven Broomhead, described the foreign investment results as “impressive”.

“The successful figures reaffirm the NWDA’s strategy, focus and investment into FDI activity. I am proud of the work of our investment teams across the Northwest and overseas for these uplifting set of results.

 “For every £1 The NWDA spends on FDI, nearly £30 will be generated for the Northwest as our work matures. I am delighted that our relatively modest investment is delivering a much bigger return and is creating thousands of jobs for people in the North West.”