Bradford ‘one of Europe’s top cities for investment’

BRADFORD has been ranked as the sixth best small city for inward investment in Europe, according to new research.

The city was also ranked 40th in the top 50 'European cities of the future' in the listings.

The rankings were announced as business leaders and dignitaries from the Yorkshire city have travelled to Cannes in the South of France to promote Bradford's regeneration efforts to potential developers and investors at the annual MIPIM property conference.

The placings come after a panel of investment and location experts from across Europe assessed the offering Bradford has for business and investors.

More than 1,000 cities and regions across Europe applied to gain a ranking in the official development index, compiled by FDi magazine and the Financial Times, which has been designed to identify locations with the best potential for economic growth and investment.

Bradford was placed sixth for having the best foreign direct investment offering in the 'small European cities' category and was beaten by Edinburgh, Cardiff, Tallinn in Estonia, Dundee and Cambridge.

It was also ranked 40th in the top 50 'European cities of the future' alongside cities including London, Barcelona, Madrid, Belfast, Hamburg, Dublin and Lille.

The competing cities and regions were rated according to their economic potential, including recent GDP growth, government economic initiatives and priorities.

The panel of judges from companies across Europe also took into account 75 indicators of locations' attractiveness for investment and potential for economic development.

Head of the Bradford district's regeneration, Coun Andrew Mallinson, said: “To be ranked the sixth best small city in Europe for inward investment is a great achievement and reflects the confidence external businesses have in the district.

“Bradford has all the right qualities for creating success – a huge amount of talent, a quality of life that attracts people from all over the world alongside an exciting £3bn regeneration programme.

“This ranking by investment experts supports the hard work underway by many people and groups in the city who are restoring confidence among the development, investment and business communities.”

Cities were rated on inward investment, including the volume and number of inward investments made in the past two years, the most significant investments made in 2007 (including the level of investment and number of jobs created) and the most significant investments of 2006.

The judges also assessed each entrants promotional strategy for attracting inward investment, including recent initiatives, incentives and regulatory changes introduced in the past two years.