Foreign investment boost in Coast to Capital region
13 August 2014
Coast to Capital, the Local Enterprise Partnership for West Sussex, Brighton & Hove, Lewes, Croydon and the Gatwick Diamond, has welcomed the news that hundreds of jobs were created in the region through investment by foreign-owned companies during the last financial year.
According to a new report by the Government's UK Trade and Investment agency, 28 projects by overseas companies were started in the region during 2013/14, which created 387 new jobs and safeguarded a further 1,040 positions.
The investments came from across the globe and the strong performance in the Coast to Capital region helped the UK achieve the highest number of inward investment projects since records began in the 1980s. In the Coast to Capital region, the projects were spread across a range of sectors including Software and Computer Services, Biotechnology and Pharmaceuticals plus Mechanical Electrical and Process Engineering.
Ron Crank, Coast to Capital chief executive, sees the results as very encouraging and more proof that the region is seen as an attractive place for overseas businesses looking to invest. "These results are a testament to the hard work we and our Area Partnerships have been doing with UKTI to promote the Coast to Capital region as an investment destination" he said. "It also shows that our strategy to attract investment in the region by creating one of the most business-friendly environments in the UK is the right one."
Malcolm Brabon, Growth Development Manager at Coast to Capital added: "The impact of each investment is important as it not only brings new jobs, it improves our position in a highly competitive global marketplace. However, there is more work to be done. We hope to attract investments that create a greater numbers of jobs and to attract investment from emerging markets such as the ASEAN countries. I'm confident that as our working relationship with UKTI continues to go from strength to strength, we'll secure even more inward investment from overseas in the future."