Yorkshire and the Humber records rise in foreign direct investment, says report
YORKSHIRE attracted its highest level of inward investment in almost two decades last year, according to new research.
The latest EY UK attractiveness survey found that Yorkshire and the Humber recorded 98 foreign direct investment (FDI) projects in 2016, which is a 24 per cent increase on the year before.
An EY spokesman said: “A difference in 2016 is that FDI projects were spread more widely across the whole of Yorkshire rather than in just one city region.
“South Yorkshire, in particular, attracted a strong level of FDI projects, with eight locating in Barnsley and six in Rotherham. In West Yorkshire, Leeds led the way, securing 12 projects and Bradford six.”
North Yorkshire attracted 11 projects and the Humber area eight, the report said. Manufacturing projects led the surge in investment in the region in 2016, making up 57 per cent of all projects, followed by financial and business services (15 per cent) and retail and hospitality (10 per cent).
Suzanne Robinson, Yorkshire and Humber senior partner at EY said: “The work that has taken place to position the whole of Yorkshire and the Humber as a strong investment location in the global market place is starting to pay off. These figures show that the international investment community has seen the potential in the region, with its access to the right skills, infrastructure and strong supply chain networks.”
Kersten England, the chief executive of Bradford Council and Leeds City Region Enterprise Partnership lead chief executive for business, innovation and growth said: “I’m delighted the results from the EY attractiveness survey show that Leeds City Region is the driving force behind a strong Yorkshire and the Humber performance - 70 per cent of projects landed in the Leeds City Region and it rated third in England, ahead of the North West. Not included in the report, but further signifiers of momentum, include investments in Leeds from Burberry and Sky, and a commitment to opening a new facility in York by US-owned bio-pharm leader Covance.”