Sheffield has been ranked as one of the Top 10 Small European Cities in terms of its prospects for attracting inward investment and achieving economic development and business expansion.
The accolade comes from leading provider of foreign direct investment intelligence, fDi, in its latest research report, European Cities and Regions of the Future 2012/2013.
Sheffield is ranked sixth in terms of its strategy for attracting foreign direct investment and eighth in terms of its overall prospects - behind four cities from continental Europe and Bristol, Liverpool and Manchester from the UK.
The city is also ranked eighth overall among the Small Cities for its infrastructure, ahead of Leeds and Cardiff, but fails to get a ranking for being “business friendly” or for human resources.
“The best small city of the future is Bristol in the UK, scoring particularly well in the business friendliness category, due in part to its concentrated high-tech and knowledge-based sectors,” says the report.
Sheffield City Council leader Julie Dore said: “We are delighted to see Sheffield’s credentials as a leading location for business investment to be reflected in the fDi rankings.
“We continue to invest in the City’s future, and to create an environment to encourage and support business and economic growth.”
James Newman, chairman of the Sheffield City Region Local Enterprise Partnership, said: “There is no doubt at all of the huge economic potential of the Sheffield City Region.
“Although we are well aware of the City Region’s attributes and attractiveness for potential investors, it is excellent that this has been reflected in the fDi European Cities ranking.”