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FT ranks Reading one of Europe’s top-25 business centres of the future
Reading has been ranked among the top-25 European business centres of the future for foreign direct investment (FDI) in the bi-annual report produced by the Financial Times.
The bi-annual fDi European Cities and Regions of the Future 2016/17 ranks cities of all sizes across Europe against a number of business criteria to assess the attractiveness of each location for future investment. It places Reading 21st, making it the third-ranking UK 'city'.
Reading was named in the FDI’s Top-25 European Cities and Regions in the previous two rankings (2012 and 2014) and has retained its status in 2016. In this year’s awards, Reading was also named the second-most-business-friendly small city in Europe, based on factors such as the number and proportion of companies in high-tech and knowledge-based industries; the jobs created by investment; the foreign direct investment; ease of doing business; and the number of FT global companies located in the city.
Overall, Reading was ranked in six categories in this year’s awards:
2nd
7th 7th
8th 9th 21st
Small European Cities of the Future – Business Friendliness
Small European Cities of the Future
Small European Cities of the Future – Human Capital and Lifestyle
Northern-European Cities of the Future
Small European Cities of the Future – Economic Potential
Overall ranking of European Cities of the Future
The awards were based on measures such as economic potential, labour force, education, lifestyle, connectivity, digital networks, business friendliness and cost effectiveness.
Sue Brackley, economic development manager for Reading UK CIC, the organisation which submitted Reading’s application to the 2016 Awards, said: “These awards recognise Reading’s compelling offer to business and investors – a base in the UK’s top-performing knowledge economy alongside major blue-chip
THE BUSINESS MAGAZINE – THAMES VALLEY – MARCH 2016
companies; access to a workforce that is nearly 50% university-educated; Grade-A real-estate options with two million sq ft of new offices being built around the new station; excellent transport connectivity; and world-class research.
“Equally important for business is the vibrant urban environment, heritage and cultural scene and surrounding beautiful countryside, which makes Reading such an attractive place to live and work.”
A measure of Reading’s success is the current international investment, with Winnersh Triangle business park owned by Patrizia (Germany) and Green Park business park owned by Oxford Properties (Canada), and with many of the residential units in Chatham Place having been bought by international investors. There is also a proposed investment by Thailand in an international convention centre at Reading FC.
In addition, large UK companies such as M&G Real Estate, Benson Elliott (Stanhope partner, Station Hill), Brockton Capital (with Landid, Thames Tower), Titan Properties, Berkeley Homes, Standard Life, Legal and General, Aberdeen
Asset Management, McKay Securities, Kier Property and many more are investing massively in Reading.
This investment has attracted major businesses to relocate to Reading, with the most recent example of inward investment being this month’s announcement that both Bayer and Thames will be relocating to Reading’s Green Park, increasing business occupancy there to 92%.
Reading UK CIC is the economic-development company for Reading which promotes inward investment into Reading, markets it to business, ensures the labour market has the skills necessary to support business needs and provides business investment support and intelligence.
Foreign direct investment (fDI) is a direct investment into production or business in a country by an individual or company of another country, either by buying a company in the target country or by expanding operations of an existing business in that country. These awards rank Reading as a leading European location for business investment.
Details:
fdiintelligence.com
NEXT EDITION NEXT EDITION In the April issue of The Business Magazine
• Commercial Property We look at the latest deals from the region, and the ever-growing focus on business parks
• Teambuilding There’s no ‘i’ in ‘team’ is the focus of this feature which explores avenues to better co-working
• Technology: social media This will assess the usefulness of social media in business. Which social media are embraced by the corporate world? And what are the options, expectations and rewards of each for your line of business?
• Focus on Oxford & Oxfordshire Latest developments from this fast-changing region
www.businessmag.co.uk
To participate in these features email
Peter Laurie at
peter@elcot.co.uk
or
Tamsin Napier-Munn at
tamsin@elcot.co.uk
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