Figures released show that over 840 jobs were either created or safeguarded across the Marches region during 2017-2018 as a result of investment from foreign businesses.
The report, published by the Department for International Trade last week, highlights that out of 15 investments across the Herefordshire, Shropshire and Telford & Wrekin region in the past year, two-thirds were as part of expansion strategies by foreign businesses – a fact that Gill Hamer, Director of the Marches LEP, believes underscores the region’s enduring appeal. She comments:
“Whilst it is always encouraging to welcome new businesses in to the region, when we see those that have already chosen to invest in the Marches further expand their operations and invest further, it demonstrates the extent to which they appreciate all that the area has to offer.”
The local authority partners of the Marches LEP also secured investment from an additional five ‘multi-region’ FDI projects where the investment was spread across a number of geographical areas of the UK.
Advanced engineering; food and drink; and business and consumer services were all well-represented across the foreign investments that benefitted the region in the past twelve months and Gill Hamer concludes:
“Investment from a broad spectrum of business sectors serves to demonstrate just how diverse the Marches region is. This diversity helps us maintain a competitive edge vis-a-vis other regions where there may be more of an exclusive focus on just one or two sectors and is, I believe, one of our key selling points.
“Of course, without the support and hard work of the investment teams at our three local authority partners, it would be impossible for the Marches LEP and the Department of International Trade to convert our unique proposition in to investment leads which convert in to tangible growth for the region.”