FOREIGN investors are impressed with what Coventry and Warwickshire has to offer.
Data from the Department for Business and Trade reveals the region as the best performing area in the UK and Northern Ireland for foreign direct investment (FDI).
Per capita, which takes account of the local population size and the number of projects, Coventry and Warwickshire was the top location, with one project per 21,464 per population.
In terms of overall projects landing in one location, the city and county were placed fourth, behind Greater Manchester, Birmingham and Solihull and Leeds.
Coventry and Warwickshire attracted a total of 53 foreign investment projects in the pas financial year, maintaining the trend of recent years. The previous year saw 50 projects.
Key sectors for Coventry and Warwickshire included 22 projects for automotive and future mobility, and eight digital creative and software, four e-commerce and logistics projects and four medtech projects.
Coventry and Warwickshire also saw a strong performance around employment, with 2,717 jobs new and safeguarded jobs, placing it fifth for most new jobs by area in the UK.
Earlier this year, FDI Intelligence Magazine recognised the strength of the region, placing Coventry and Warwickshire in the top ten for three categories in its annual FDI European Cities and Regions of the Future Awards 2024.
Coventry & Warwickshire placed second for FDI Strategy, and was awarded top-ten placings for Economic Potential and Business Friendliness.
The rankings benchmark European cities and regions according to their economic, financial, and business strengths.
Invest Coventry and Warwickshire’s local investment strategy stood out due to the strength of its support to businesses in establishing themselves in the area, close collaboration with local partners and unique offer to inward investors, which this year included Accenture, BMW, GM, Polestar, TATA, Tencent and Visteon among recent new investors into the area.
Over the past decade, Coventry and Warwickshire has seen 25,431 jobs created or safeguarded from 447 foreign direct investment projects.
Warwickshire County Council economy spokesman Coun Martin Watson said: “We are delighted to see that Coventry and Warwickshire continues to be such an attractive destination for foreign investment, with so much of it led by technological businesses – we continue to have the skills and talent sought by overseas companies, as well as the sites and connectivity.
“Our new strategic economic plan and sector growth plans will help support and develop the offer of our local economy. The County Council’s inward investment service provides an excellent soft-landing support for business, with help in finding properties, accessing funding and attracting talent or filling skills gaps. The support available is comprehensive, and I would encourage potential investors to reach out to us if they are thinking of investing in the area.”