News: Rotherham continues as a leading location for foreign investment
Figures released by the regional development agency, Yorkshire Forward show that Rotherham has helped to attract a record number of overseas investors to the region in the last 12 months.
The global economic downturn has failed to dampen Yorkshire and Humber's position as a leading location for foreign investment, with the latest figures showing the region attracted a record 147 overseas investors in the last 12 months, the highest ever.
Yorkshire Forward and local authority partners were directly involved in 60% of the investments, some of the largest the region has seen in recent years, creating or safeguarding over 3,000 jobs and attracting over £165m of private-sector investment.
The United States was the region's top investor for the second year, followed closely by Japan and Germany. And despite challenging trading conditions, the Advanced Engineering, food and drink and environmental technologies sectors remained the top sectors for investment in the region.
According to the 2009/10 figures, South Yorkshire has proved the most popular location for investment, attracting 43% of the total business investments. North Yorkshire 9%, West Yorkshire 33% with the Humber attracting 23%.
Investments in Rotherham include Swedish-owned Sandvik Medical, spending £7.5m on developing the Sandvik European Centre of Excellence and Dutch-owned Pegler selecting Manvers in Rotherham for a £7m warehouse development.
Foreign investment also came in the form of acquisitions such as Elite Tooling being acquired by Tivoly, the largest manufacturer of cutting tools in France and the third largest cutting tool manufacturer in Europe.
Recently announced investments in Rotherham include Boccard UK, a French company involved in the nuclear energy and construction industries selecting Rotherham as a base for its Northern division and TEKS, a hi-tech French company locating its UK base on the Advanced Manufacturing Park.
In December, the US-based National Business Incubation Association (NBIA) awarded the borough "Soft Landing Zone" status, recognising RiDO's four managed business centres as well as their knowledge and expertise to deliver a comprehensive package of support that will maximise the chances of a foreign inward investor succesfully entering a new market.
Theresa Lindsay, Assistant Director of Business at Yorkshire Forward said: "Despite the global downturn, it is clear that the Yorkshire and Humber offer has continued to attract national and international major investments from world-class industry names, with the highest rates of investment into the region in the last decade.
"These investments have created and safeguarded thousands of high value jobs, particularly in advanced technology, which puts the region at the forefront of development in key growth sectors."
"In a climate where businesses, now more than ever, are balancing the need for capital investment against the uncertainties of the global economy, the results endorse the strength of our region as the place to do business."
"Every £1 spent on overseas activity is delivering well over £11 of basic tax revenue to the Government, and this figure increases significantly if you take into consideration the revenue from additional spending into the economy that is created from new jobs."
Yorkshire Forward website
Rotherham Investment & Development Office
Images: corusconstruction.com
The global economic downturn has failed to dampen Yorkshire and Humber's position as a leading location for foreign investment, with the latest figures showing the region attracted a record 147 overseas investors in the last 12 months, the highest ever.
Yorkshire Forward and local authority partners were directly involved in 60% of the investments, some of the largest the region has seen in recent years, creating or safeguarding over 3,000 jobs and attracting over £165m of private-sector investment.
The United States was the region's top investor for the second year, followed closely by Japan and Germany. And despite challenging trading conditions, the Advanced Engineering, food and drink and environmental technologies sectors remained the top sectors for investment in the region.
According to the 2009/10 figures, South Yorkshire has proved the most popular location for investment, attracting 43% of the total business investments. North Yorkshire 9%, West Yorkshire 33% with the Humber attracting 23%.
Investments in Rotherham include Swedish-owned Sandvik Medical, spending £7.5m on developing the Sandvik European Centre of Excellence and Dutch-owned Pegler selecting Manvers in Rotherham for a £7m warehouse development.
Foreign investment also came in the form of acquisitions such as Elite Tooling being acquired by Tivoly, the largest manufacturer of cutting tools in France and the third largest cutting tool manufacturer in Europe.
Recently announced investments in Rotherham include Boccard UK, a French company involved in the nuclear energy and construction industries selecting Rotherham as a base for its Northern division and TEKS, a hi-tech French company locating its UK base on the Advanced Manufacturing Park.
In December, the US-based National Business Incubation Association (NBIA) awarded the borough "Soft Landing Zone" status, recognising RiDO's four managed business centres as well as their knowledge and expertise to deliver a comprehensive package of support that will maximise the chances of a foreign inward investor succesfully entering a new market.
Theresa Lindsay, Assistant Director of Business at Yorkshire Forward said: "Despite the global downturn, it is clear that the Yorkshire and Humber offer has continued to attract national and international major investments from world-class industry names, with the highest rates of investment into the region in the last decade."These investments have created and safeguarded thousands of high value jobs, particularly in advanced technology, which puts the region at the forefront of development in key growth sectors."
"In a climate where businesses, now more than ever, are balancing the need for capital investment against the uncertainties of the global economy, the results endorse the strength of our region as the place to do business."
"Every £1 spent on overseas activity is delivering well over £11 of basic tax revenue to the Government, and this figure increases significantly if you take into consideration the revenue from additional spending into the economy that is created from new jobs."
Yorkshire Forward website
Rotherham Investment & Development Office
Images: corusconstruction.com
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