LEP welcomes continued strong foreign investment into Thames Valley Berkshire
The 2014/15 Inward Investment Annual Report from UKTI recorded 44 successful Foreign Direct Investment (FDI) projects in Thames Valley Berkshire. This matches the successes in the previous year but has generated 1,020 new jobs; over twice as many as in 2013/14. This is borne out by the number of “High Quality”* investments this year, which at 61% is well above the national average and represents the key strengths of the sectors in the Thames Valley Berkshire area. It also positions Berkshire among the top five destinations in the UK for FDI (alongside the city regions of Greater Birmingham, Greater Manchester and Leeds).
Juxtaposed with the recent news that global telecommunications giant ZTE has now officially opened its UK head office in Slough, this further reinforces the credentials of Thames Valley Berkshire as an international destination for business and a globally attractive location.
Tim Smith, Chief Executive of the LEP comments, “This is excellent news and testament to the work done by our delivery partner, the Thames Valley Chamber of Commerce. In a global economy where we are competing against other locations worldwide Thames Valley Berkshire continues to hold its own.
“To further drive economic growth in Thames Valley Berkshire, we are investing £137m of Local Growth Funds, EU Structural Funds and Growing Places Funds. Overall this package will create more jobs, more homes, more private investment and accelerate the development of digital infrastructure, and a new Science Park at the University of Reading. This will all continue to boost the sub region’s appeal to potential inward investors.”
* This is the highest category for projects, whereby three national indicators are met, one being quantitative