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South Yorkshire Takes Foreign Investment Crown

posted 5 Jun 2013, 02:06 by RiDO Rotherham
South Yorkshire has overtaken West Yorkshire as the most attractive location for foreign investors in the region, according to a new report by Ernst & Young.

Yorkshire was one of only a handful of English regions to show an improved performance in the number of foreign direct investment (FDI) projects secured during 2012.

During 2012, Yorkshire secured 21 FDI projects, creating 380 jobs, according to EY's annual attractiveness survey.

Bucking the usual trend for the region, South Yorkshire secured the most projects, with nine, followed by West Yorkshire (six) - which typically takes the top spot - North Yorkshire (four) and Humberside (two).

Yorkshire attracted investment from ten manufacturers, eight finance and business services companies, two retail and hospitality investors, and one transport and communications project.

The region attracted investment largely from the traditional locations of the US (four projects), Germany (four) and France (two); but also three from India.

Yorkshire, the North East, North West and the West Midlands were the only English regions to show an improved performance in the number of FDI projects secured, compared to 2011. The other five including, London, South East, East of England, East Midlands and the South West all suffered a slump.

David Buckley, EY's Yorkshire senior partner, said: "English regions clearly suffered in the battle to attract inward investment last year. It appears that the closure of the regional development agencies may have started to undermine their performance.

"Now represented by local enterprise partnerships, English regions need greater focus and support to attract inward investment, or risk damaging the UK's overall performance. In comparison, countries such as France and Germany have a much more balanced regional spread of projects."