Coventry & Warwickshire Leads UK and Northern Ireland in Foreign Direct Investment, New Data Shows
The Coventry & Warwickshire area is making waves in the world of foreign direct investment (FDI), according to new data released by the Department for Business and Trade. The region has been identified as the best performing location in the UK and Northern Ireland for FDI, surpassing overall UK figures.
In the year 2023-24, Coventry & Warwickshire attracted a total of 53 foreign investment projects, maintaining a trend of consistent growth in recent years. This success can be attributed to key sectors such as automotive and future mobility, digital creative and software, e-commerce and logistics, and medtech. The area accounted for an impressive 20% of UK automotive projects, solidifying its position as a hub for high-tech industries.
Not only has Coventry & Warwickshire excelled in attracting investment projects, but it has also seen significant job growth. In the past year, the area saw 2,717 new and safeguarded jobs, ranking fifth in the UK for most new jobs by area. This employment growth highlights the region’s ability to create opportunities and support economic development.
The release of this data comes on the heels of recognition from FDI Intelligence Magazine, which placed Coventry & Warwickshire in the top 10 for FDI Strategy, Economic Potential, and Business Friendliness in its annual FDI European Cities and Regions of the Future Awards 2024. This acknowledgment further solidifies the region’s reputation as a leading destination for foreign investment and high-tech industries.
Local officials, including Councillor Martin Watson and Councillor Jim O’Boyle, have expressed their excitement about Coventry & Warwickshire’s continued success in attracting foreign investment. They attribute this achievement to the region’s skilled workforce, supportive business environment, and strategic economic plans aimed at fostering growth and innovation.
As Coventry & Warwickshire looks towards the future, with plans for a gigafactory and investments in green technologies, the region is poised to lead in the green industrial revolution. With its strong foundation in high-tech industries and commitment to sustainability, Coventry & Warwickshire is well-positioned to attract new businesses and create job opportunities in emerging sectors.
Overall, the latest data confirms Coventry & Warwickshire as a powerhouse for FDI and high-tech investment, showcasing the region’s potential for continued growth and success in the global market. With its strategic location, skilled workforce, and supportive business environment, Coventry & Warwickshire is a prime destination for foreign investors looking to establish a presence in the UK.