Member Article

Record number of businesses move to the North East

More overseas companies are investing in the North East than ever before, newly released figures reveal. 63 firms moved to the North East or re-invested in existing businesses in the region in the last financial year, according to One NorthEast. This is five more than in 2004/05. The regional development agency said these investments will create 4,253 new jobs, safeguarding a further 1,522 posts, with capital expenditure of just over £62m by the investing companies. The rise in the number of investments in the region by foreign investors mirrors figures released this week by UK Trade and Investment which reveal a record 1,220 projects being brought into the country in the last financial year, creating or protecting nearly 90,000 jobs.Simon Goon, One NorthEast Head of Business Development and International Relations, said: “These statistics prove the diversity of the all round offer we have for investors in the North East. “There is our broad business base, commercial property, financial packages, unrivalled quality of life and internationally credible R&D and innovation activities - all powerful incentives for investors looking to move into the UK. “Perhaps the most compelling reason is that it is very easy to do business here, the North East is a very joined up region and One NorthEast sits at the heart of this offer, helping lower barriers to effective and efficient growth.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .