Friday, August 2, 2013

News: Sheffield City Region welcomes increase in foreign investment


The Sheffield City Region (SCR) has enjoyed an exceptional rise in foreign direct investments in the past year seeing a 271% increase, the biggest rise in the UK in 2013.

The UK's 2012/13 Inward Investment Annual Report, published recently by UK Trade and Investment (UKTI), confirms rises in the number of projects and jobs secured compared to 2011/12.

The investment results at the local level in England are also positive with most Local Enterprise Partnerships recording an increase in the number of investment projects in their areas.

The UKTI recorded a total of 26 companies investing in the Sheffield City Region resulting in 631 new jobs and 3,099 safeguarded jobs.

James Newman, Sheffield City Region Local Enterprise Partnership (LEP) chairman said: "I am delighted at the substantial improvement in inward investment successes over the last year in our region.

"I congratulate the talented Economic Development teams of our Local Authorities for turning these projects into live successes on the ground.

"UKTI has also upped its game over the last year and I hope this will continue.

"It is vital we continue to grow our business base and increase job numbers to ensure our local economy keeps growing."

In Rotherham, recent foreign investments include Australian multinational company, Bradken, moving to Templeborough; German engineering company, Moller Group, announcing a significant investment and expansion plan for their subsidiary, Moller UK; and Norwegian steel stockholders, Sverdrup Steel taking commercial space in Rotherham to establish its first overseas operation.

Foreign investment also came in the form of acquisitions with Singapore listed CSE Global acquiring 75% of S3 ID; the ABS Group being acquired by ELG Utica, part of Germany's ELG Haniel Group; leading contact centre operator, HEROtsc sold to Paris-headquartered Webhelp Group; and Prospec, becoming part of the French-based Abeo Group.

Martin Kimber, chief executive of Rotherham Borough Council, said: "It is a credit to the Local Authority teams who landed these investments.

"I am delighted at this increase and look forward to seeing them prosper in SCR."

SCR Invest website


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