Hundreds of jobs safeguarded in the Black Country and Marches LEP areas
HUNDREDS of new jobs have either been safeguarded or created as a result of foreign investment into the Marches and Black Country Local Enterprise Partnership areas.
Figures from UK Trade & Investment (UKTI) show that during 2015/16, foreign direct investment was directly attributable to 15 successful projects in The Marches.
Between them, the investments created 408 new jobs and safeguarded a further 877 – an increase on previous years.
Commenting, Gill Hamer, director of the Marches LEP, said: “It is fantastic to see that the number of jobs created and safeguarded through foreign direct investment in to the Marches have increased over the past year.
“Across 15 successful projects, we’ve seen 408 new jobs created and a further 877 jobs safeguarded. This is a significant increase from the 302 jobs created and 250 jobs safeguarded in the previous 12 months and it is encouraging to see investment being made across a wide range of our priority sectors for the region – food and drink; automotive; advanced engineering and agriculture amongst others.
“The inward investment teams at our three local authority partners have worked collaboratively with the LEP and UKTI to secure these investments and without them, it’s unlikely we’d witness such positive figures. It is particularly reassuring to see the number of investments which are linked to business expansion as this underlines the continued attractiveness of the Marches region as an area in which to do business.”
In the Black Country, the UKTI figures suggest FDI has grown 285% over the 2015/16 period and has been responsible for the creation of 1,763 jobs.
FDI projects are said to have grown by 46% increase over the period, equating to 19 projects which are a mix of new investment and existing company expansion.
Investors include Porsche, with its new dealership in Wolverhampton, the expansion of Jaguar Land Rover’s Engine Manufacturing Centre at the i54 business park and Lidl’s new distribution facility Wednesbury.
Stewart Towe, managing director of The Hadley Group and chairman of the Black Country LEP, said: “The figures are testament to the ongoing work that the LEP is doing, through Invest Black Country and partners, to promote the Black 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. Through innovative projects such as our HVM City portal we are increasingly able to share these opportunities internationally.
“The figures continue to highlight that the Black Country, alongside our partners in the Midlands, is fast becoming the investment hotspot in the UK, and a real alternative to London.”
