INWARD INVESTMENT
United Kingdom
With new trade agreements in the pipeline post-Brexit, the UK continues to draw investment from around the world. Some of the key locations for inward investment are:
Scotland – Inward investment agency Scottish Development International pitches its offer at the fintech sector in particular. Scotland, it points out, is home to the UK’s second-largest financial services cluster, has a strong tech ecosystem, produces 15,000 tech graduates per year, and offers a competitive cost base. Major players with technology operations in Scotland include J.P. Morgan, Avaloq, Aberdeen Asset Management, and Morgan Stanley. Key centres are Edinburgh, Glasgow, Dundee and Aberdeen.
The Midlands – One of the UK’s fastest-growing and most important areas, the Midlands combines excellent transport links and easy access to London with the benefits of a regional economy. Growth in entrepreneurial activity, a strong housing market, and a skilled workforce have seen it become an increasingly popular location for commercial investment, culture and tourism. The establishment of company HQs and investment from high-profile companies like Deutsche Bank, HSBC, Aviva, Barclaycard, Jaguar Land Rover Finance, and Experian have been integral to the recent transformation of key centres, which include Birmingham, Coventry, Leicester, Milton Keynes, Northampton, Nottingham and Wolverhampton. The planned High Speed 2 rail line is expected to bring further economic benefits.
Leeds City Region – The UK’s largest city region outside London and the South East has recorded its most successful year to date in attracting foreign direct investment (FDI). Leeds City Region played a leading role in the success of the Yorkshire and Humber region, according to EY’s 2017 Attractiveness Survey, having been the only region in the Northern Powerhouse to see an increase in levels of inward investment. The Department for International Trade’s annual report showed that investment levels increased by 22 per cent, securing 100 successful FDI projects and creating and protecting over 3,000 jobs. Key sectors are financial and professional services, digital, healthcare and life sciences, and advanced manufacturing. Fashion brand Burberry and international healthcare company Covance have recently announced new investment in the region.
Kent – Ideally placed for access to London, but with commercial property costs that are up to 60 per cent lower, Kent offers easy access to Europe via the Channel Tunnel and Europe’s largest ferry port, Dover. One of the South East’s biggest clusters of technology-focused businesses is at Kent Science Park, Sittingbourne. Other key sectors are life sciences, manufacturing, creative and digital.
Contact Scottish Development International,
www.sdi.co.uk, Business
Birmingham, www.
businessbirmingham.com, Invest in Nottingham,
www.investinnottingham.com, Leeds City Region,
investleedscityregion.com, Locate in Kent, www.
locateinkent.com
Pays de la Loire, France
The Pays de la Loire region has seen significant development in both the number of foreign companies setting up there and direct investment in local companies from abroad. Its highly skilled labour force is a major attraction. Pays de la Loire has the highest employment figures in
France (excluding Paris), with 66 per cent of the working-age population employed. Its policy of Europewide cooperation holds huge appeal for businesses, and hosting events like the Le Mans 24-hour motor race and the Grand Depart of the 2018 Tour de France cycle race keeps it in the public eye. The region’s tourism sector is booming, with approximately
18 million visitors annually. Pays de la Loire’s 450 kilometres of picturesque coastline are varied, their sandy beaches, lively fishing ports and charming seaside resorts making this France’s best place for inpatriates to work. Pays de la Loire’s capital, Nantes, allows access to all
major European hubs from Western France’s leading airport, with direct low-cost flights to six UK destinations (London, Bristol, Manchester, Birmingham, Southampton and Liverpool). Paris can be reached by TGV high-speed train in under two hours, and the Nantes-Saint-Nazaire Port is connected to 400 ports all over the world.
Historically, the region has always been industry focused,
with a leadership position in shipbuilding (STX), aeronautics (Airbus), food processing (Lactalis) and automotive. In 2016, over 50 per cent of foreign investment was related to industrial production and business services. Birmingham- based transmission leader GKN invested €20 million in its ‘factory of the future’ near Le Mans. Numerous high-tech companies have already established
themselves in the area. Hosting October’s Ocean Energy Europe 2017 show and World Electronic Forum highlights the region’s commitment to boosting innovation in digital industries, the Internet of Things, and offshore energies.
Contact Invest in Western France,
www.invest-western-
france.com
16 | Re:locate | Autumn 2017
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