Exceptional foreign direct investment for Sheffield City Region

Sheffield City Region has seen an “exceptional” rise in foreign direct investment in the past year, say the LEP.

The growth body say the 271% increase in foreign direct investment is the largest in the UK this year, and has contributed to an estimated 631 new jobs.

James Newman, Sheffield City Region Local Enterprise Partnership (SCR LEP) chairman said: “I am delighted at the substantial improvement in inward investment successes over the last year in our region.

“I congratulate the talented Economic Development teams of our Local Authorities for turning these projects into live successes on the ground.

“UKTI has also upped its game over the last year and I hope this will continue. It is vital we continue to grow our business base and increase job numbers to ensure our local economy keeps growing.”

Martin Kimber, chief executive of Rotherham Borough Council said: “It is a credit to the Local Authority teams who landed these investments.

“I am delighted at this increase and look forward to seeing them prosper in SCR.”

David Grey MBE and Sheffield City Region LEP Board member added: “Foreign direct investment is a vital part of building a re-balanced economy in SCR.

“This is a great start and the SCR Inward Investment team are working hard to build a strong pipe line for the future.

“We look forward to building on this success to maintain and improve this competitive position.”

Ellen Cutler, SCR director of Inward Investment added: “The region has much to offer the foreign investor; incredible R & D facilities, an established supply chain, the number 1 Enterprise Zone in the UK for modern manufacturing, strong expertise in a variety of sectors and universities producing a highly skilled workforce.

“The aim of Sheffield City Region is to sustain this upward trend.”