Warwickshire leads the Midlands region for FDI Investment
“Warwickshire remains a 'go to' area in the UK for FDI investment, as we have the skills and talent sought by overseas companies, as well as access to supply chains and connectivity."
The Warwickshire (and Coventry) area remains among the fastest growing regions in the country as a location for foreign investment.
Data released by the Department for International Trade has revealed that the area attracted 45 foreign investment projects in the year 2021/22, maintaining the trend of recent years. The previous year recorded a figure of 50 projects, a 10% jump in projects that year compared to a decline of 12% for the UK over the same period. This year, numbers for the UK were up 3%.
Key local sectors featured strongly in the data, with 15 of these projects related to software and games development, ten related to automotive and future mobility, and five to e-commerce and logistics.
Analysis of the data shows that the Coventry & Warwickshire area is the highest performing area in the Midlands per capita, where the number of projects is compared to the local population. This year the area scored one project per 26,000 people, with the next comparable LEP area coming in at one project per 31,000, and elsewhere as low as one in 71,000.
Earlier this year, Foreign Direct Investment (FDI) Intelligence Magazine recognised the strength of the local area, placing Coventry & Warwickshire in the top ten for three categories in its annual FDI European Cities and Regions of the Future Awards 2022. The area was named second for Foreign Direct Investment strategy, seventh for economic potential and ninth for overall winner.
The Coventry and Warwickshire area has seen 19,519 jobs created from 347 foreign direct investment (FDI) projects over the last eight years (to 2022).
Warwickshire County Council Portfolio Holder for Economy and Place, Cllr Martin Watson,said: “Warwickshire remains a 'go to' area in the UK for FDI investment, as we have the skills and talent sought by overseas companies, as well as access to supply chains and connectivity. Our inward investment service provides an excellent soft-landing support for business, and I would encourage potential investors to reach out to us for support.”
For companies considering investing in the UK and the Midlands area, more information on the Coventry & Warwickshire area can be found at www.investcw.co.uk