Member Article

North West remains attractive proposition as Manchester dominates foreign investment figures

The North West attracted 90 foreign direct investment (FDI) projects last year with Manchester once again coming out on top in terms of investment for UK cities other than London.

The city saw 47 projects last year compared with 20 for Birmingham and 12 Leeds, meaning only the capital saw more big foreign investment projects in the period with Brexit seemingly leaving international investors undeterred about the city’s investment potential.

Elsewhere in the region, Cheshire secured nine FDI projects over the same period while Merseyside saw eight, highlighting Manchester’s predominance in terms of foreign investment flows according to new figures released as part of the latest EY UK Attractiveness Survey.

Bob Ward, North West Senior Partner at EY said that the figures highlighted the fact that the marketing of the Northern Powerhouse brand was staying to pay off, with foreign investors more keenly aware of the region and its potential.

He said: “The work that has taken place to position the North West, and indeed, the whole of the North of England, as a strong investment location in the global marketplace is starting to pay off.

“These figures show that the international investment community sees the potential in the region, with its access to the right skills, infrastructure and strong supply chain networks.”

According to the figures, the majority of FDI in 2016 originated from the European Economic Area with 42 projects coming from the EEA, followed by North America with 27 projects with other initiatives by the likes of Germany, France, Israel, Denmark and Australia.

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →