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Newcastle dominates as North East records 26 FDI deals in 2016

EY’s latest UK Attractiveness Survey has revealed that the North East recorded 26 foreign direct investment (FDI) projects in 2016, 38% of which were first time investments in the region from international investors.

Newcastle continued to dominate the region in terms of attracting FDI, securing seven projects in 2016, followed by five in Sunderland and three in Newton Aycliffe.

FDI into the region was dominated by manufacturing and financial & business services with 15 and nine projects respectively.

The majority of investment in the region originated from North America (NAFTA) with 10 projects, making the North East stand out from the rest of the North of England where investment from the EEA (European Economic Area) dominated FDI.

In the NE, the EEA generated eight FDI projects, from Sweden (2), Ireland (2), France, (1), Germany (1), Norway (1) and Spain (1).

On an individual country basis, the USA was the biggest investor in the North East with ten projects, followed by Japan with five projects. In all FDI in the North East was generated from 11 different countries across the globe.

Sandra Thompson, incoming North East Senior Partner at EY said: “The work that has taken place to position the North East, 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.”

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