Annual investment figures from UK Trade and Investment (UKTI) for 2013 to March 2014 show that the UK attracted 14% more projects than last year (2012 to 2013). This is supported by external independent sources, such as EY, who have confirmed that the UK remains the number 1 destination in Europe for foreign direct investment projects.
The UKTI inward investment report also shows 66,390 new jobs were created, the highest since 2001. In total 1,773 investment projects were set up by foreign businesses in the UK during the 2013 to 2014 financial year. In Scotland, there were 122 projects creating 5,374 new jobs.
Since 2010, UKTI has recorded 6,172 inward investment projects which are estimated to have created more than 220,000 jobs. Over the same period UKTI has recorded 412 projects in Scotland creating almost 21,000 new jobs.
The announcement was made ahead of the Commonwealth Games Business Conference in Glasgow this Tuesday and Wednesday which will showcase to the world’s business and political leaders all that the UK has to offer.
Prime Minister David Cameron welcomed the announcement. He said:
The report shows that the benefits are spread throughout the UK with England, Scotland, Wales, Northern Ireland and London all recording increases in the number of investment projects landing and new jobs created."
Northern Ireland in particular recorded a significant increase in investment projects compared to 2012 to 2013 – 32% – while Wales registered an 18% increase in the number of investments and Scotland received a 10% boost.
Individual investments in Wales and Scotland, on average, had the largest impact in terms of creation or safeguarding of jobs (132 and 87 jobs per project respectively). Each investment in Northern Ireland is associated with 77 jobs, while projects landing in London are estimated to have created or safeguarded on average 44 jobs per project.
The number of investment projects landing in England (excluding London) also increased by 11%, reaching 840 projects.
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