3,500 new jobs created in region by foreign direct investment

Coventry and Warwickshire continues to be a leading location for foreign investment with 3,500 new jobs secured in the region in the last 12 months – an increase of almost 100 per cent.

Recent figures reveal that the region achieved more than 50 successful projects during the 12-month period to March 2018, an increase driven in Warwickshire by investments from the likes of industry-leaders Bharat Forge, Bosch, Clear Motion and Hyundai Engineering.

FDI projects over the last year have led to the creation of 61.8 new jobs created per 10,000 working-age population in Coventry and Warwickshire. This is double the number of new jobs per 10,000 capita in London and more than six times higher than the average in regions outside the capital.

The number of new FDI projects per 10,000 capita in the region over the last year is 0.90 - three times higher than the average region outside London.

The strong figures are testament to the depth and quality of business expertise across many sectors in the region, supported by sustained work on behalf of the business community by Warwickshire County Council and its partners.

Cllr Izzi Seccombe, leader of Warwickshire County Council, said: “There has been a concerted effort from all parties to make sure that we maximise our potential and to ensure that we are selling the undoubted attributes of the area.

“That involves not only the commercial advantages but also the environment and lifestyle we can offer inward investors and their employees.”

The region as a whole is performing strongly with productivity in the Coventry & Warwickshire Local Enterprise Partnership (CWLEP) area having outgrown every other LEP area in the country.

Jonathan Browning, chairman of the CWLEP added: “It is extremely positive that Coventry and Warwickshire continues to perform well in attracting inward investment.

“Against the backdrop of the uncertainty around Brexit, our region has continued to perform strongly and attract major international investment, creating 3,500 new jobs and wealth.

“We are pleased that the combined efforts of the CWLEP, Coventry City Council and Warwickshire County Council, along with the Department for International Trade (DIT) and its partners, are continuing to reap strong results and strengthen Coventry and Warwickshire’s standing as a great location to do business and live."