Friday, July 5, 2019

News: Companies continue to invest in the SCR

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More than 3,000 new jobs were created in the Sheffield city region (SCR) last year through domestic and foreign investment.

Approximately two thirds of those jobs have been created through 130 domestic investment projects, while a total of 1,010 new jobs have been created through 40 foreign direct investment (FDI) projects.

The 2018/19 figures are broadly similar to the previous financial year, when 3,857 new jobs were created across 152 different projects.

Dan Jarvis, mayor of the Barnsley, Doncaster, Rotherham and Sheffield Combined Authority, said: "It's good to see continued job creation and inward investment here in the Sheffield city region.

"With high-profile investments from companies such as McLaren and Boeing in recent years, increasing opportunities for cutting-edge collaborations between our world-leading universities and businesses, and an ambitious plan to improve our transport network, our region is an increasingly attractive place to live, work and invest.

"These new figures also indicate that we have held up well against the national picture, which has seen a 14% decrease in FDI projects, primarily due to uncertainty over Brexit.

"But while we're doing well, we can and should be doing better. To grow our economy on the scale that is required, we need a commitment from the new Prime Minister to devolve more powers, responsibilities and funding to regional decision-makers.

"Only then will we have the power to ensure investment is made where we know it will make the greatest impact."

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Beckie Hart, director at CBI Yorkshire and Humber, added: "These figures show that the Sheffield city region remains extremely attractive to investors, and are testament to the strength of the region's offer to investors. We are a hub for technology, research and innovation.

"I look forward to continuing to work closely with Mayor Jarvis as he drives forward his economic vision to help unlock more jobs, investment and prosperity for the region as a whole."

Of the FDI investment last year, 40 projects have together created 1,010 jobs. Recent foreign investment into Rotherham includes Luxembourg-based United Caps announcing plans to invest some €20m in a new production facility in Dinnington. Rotherham-based Glassolutions Installation business of the Saint-Gobain Group was acquired by CoBe Capital, a global private investment firm.

Of the domestic investment, 66 of the total 130 new projects are in Doncaster, with 42 in Barnsley, 10 in Sheffield and four in Rotherham. A total of 2,300 new jobs have been created through those projects, 776 of which are in Doncaster and 774 in Sheffield.

SCR Invest website

Images: United Caps

2 comments:

RichGods July 5, 2019 at 12:59 PM  

Yet again, Rotherham gets the least

Anonymous,  July 5, 2019 at 1:10 PM  

Yes, but remember Rotherhams economy is performing far better than the others any how👍

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