Local Enterprise Partnership Bristol assured as foreign investors favour West Midlands

The analysis, based on the attitudes of 500 international decision makers, found that automotive and energy companies were especially keen on the region.

The results are very positive with figures predicting an optimistic 2013 with expansion and growth taking place in the Midlands.

Ernst & Young’s UK Attractiveness Survey earlier this year showed there were 58 new foreign direct investment (FDI) projects in the region in 2011 compared to 91 the previous year, but these created 6,738 jobs, almost 3,000 more than 2010.

Sara Fowler, Ernst & Young’s senior partner for the Midlands, said: “The Midlands has some outstanding capabilities such as the Manufacturing Technology Centre which is an unparalleled facility for driving new technologies and innovation but more still needs to be done to raise awareness of the Midlands as a global destination of choice.

While the UK remains Europe’s top destination for foreign direct investment (FDI) based on figures from last year in terms of actual projects, Ernst & Young has warned it could lose its crown to Germany within two years unless action is taken.

The survey reveals that 42% of investors say they lack the knowledge needed to choose a specific location in the UK, suggesting more needs to be done to market regions.

With LEP’s expected to play a more centralised role in 2013 it looks likely that the right marketing to get foreign investors to the area is achievable.

The UK retains attractive qualities for investors, particularly its quality of life, culture and language, stable political environment and infrastructure. The survey also found 86% of investors were confident the UK would overcome its economic challenges.

With such optimistic results 2013 is set to be a good for the West Midlands.

Source: The business Desk