More than ever Warwickshire is a magnet for foreign investment

Warwickshire has further strengthened its position as a leading location for new inward investment, creating thousands of jobs in the process.

New figures from UK Trade & Investment (UKTI), now part of the Department for International Trade (DIT), has revealed that over the last 12 months more than 3,600 new jobs were created in Coventry and Warwickshire by attracting foreign investment to the UK.

This continuing appeal for overseas investors is great news for the county's entire business community.

And the expansion of existing investors continues to contribute greatly to the foreign investment footprint of Warwickshire, demonstrating the commitment to the area of major employers like Jaguar Land Rover, Brose, Zhejiang Geely and Holland and Barrett.

Health food giant Holland & Barrett are currently expanding their headquarters in Nuneaton and their chief executive officer Peter Aldis is not at all surprised that Warwickshire remains a magnet for foreign investment. Holland & Barrett's Barling Way base, and Warwickshire as a county, offers the company everything it needs, he insists.

“We are proud to be a longstanding major employer in the Coventry and Warwickshire area," said Mr Aldis. "We are fortunate to be located in an increasingly vibrant, creative and hardworking commercial hub which possesses everything a business needs as the basis for domestic, as well as global, growth: infrastructure, a well-served central location and a skilled workforce. 

"We have worked hard to build and broaden our business in the past few years and are now managing a truly international brand from our global headquarters in Nuneaton, managing an extensive network of stores in markets as diverse as China, Sweden, the Netherlands and India.

"We remain true to our local roots and continue to expand our business quite literally with a major extension to our Nuneaton headquarters to accommodate the increasing staff-numbers we need to keep pace with growth. 

"Leading local businesses do however need to play their part in helping to drive further opportunities for commercial development in their area, which is why we are pleased to be an active supporter of the new West Midlands Combined Authority which has real ambitions to make this area a great location for businesses of all sizes to develop - ambitions we share and can hopefully contribute to.”

Holland & Barrett are far from alone in identifying the region as a great business base - with the message spreading across Europe and further afield. During 2015/16 in the Coventry and Warwickshire Local Enterprise Partnership (CWLEP) area, there were 47 successful Foreign Direct Investment (FDI) projects which led to the creation of 3,621 new jobs and safeguarded a further 1,206.

Of the projects, 57 per cent were expansions and 21 per cent new investments, while there were 21 recorded successes in the automotive sector. UKTI and Coventry and Warwickshire Local Enterprise Partnership (CWLEP) partners, including Warwickshire County Council, supported 35 of the projects over the last 12 months.

The new figures show a significant increase from the 33 FDI projects in 2014/15 which created 2,928 new jobs and safeguarded 180 jobs.

Jonathan Browning, chairman of the CWLEP, said he was delighted that almost 700 more jobs have been created by companies from overseas investing in Coventry and Warwickshire in comparison to the previous year.

“The figures show Coventry and Warwickshire is performing well and even accelerating on an already strong level from last year,” he said. “This new foreign investment into the area is very positive news and shows how well all the local authorities and organisations involved are working together.

“It shows that our area continues to head in the right direction and contribute strongly to the UK remaining the number one investment destination in Europe.

“The region has a strong record of performing well in advanced manufacturing, engineering and automotive and the report shows we remain particularly strong attracting national and global businesses in these sectors. This means we are creating highly-skilled, desirable jobs.

“The CWLEP, Coventry City Council, Warwickshire County Council, along with UKTI and its partners, have been involved in helping to secure these investments and the latest report clearly shows these partnerships are resulting in hugely positive results which benefit the region’s businesses and people.”