Cambridge has maintained its position as the ninth most successful city in the UK in terms of attracting foreign direct investment (FDI) projects in 2015, according to new research.
EY’s UK Attractiveness Survey found that Cambridge secured a total of nine FDI projects last year, accounting for almost half of the total number of projects recorded in East Anglia.
Overall, the East of England attracted 21 projects during 2015, an increase of 40 per cent from a year earlier.
Strong growth was reported in the East for projects from the manufacturing sector, with 10 projects attracted to the region from this sector. Manufacturing investment into the region equated to nearly half of the region’s total projects and 46% of the total jobs created in the East of England.
Neil Darwin, Chief Executive of the Greater Cambridge Greater Peterborough LEP, said:
“Cambridge is a net contributor to UK PLC and a world class centre for innovation, technology and business. Ranking as the 9th most successful city for FDI demonstrates its strength overseas and why so many world class companies have already chosen to base themselves here and to expand. We anticipate this trend will continue into the future. We will be seeking to use our newly designated “Cambridge Compass” Enterprise Zone sites to continue to attract new investors into Cambridge area.”
Nick Gomer, managing partner at EY in Cambridge: “2015 has been another year of growth for the East of England, demonstrated by a 40% increase in FDI performance. Cambridge attracted nearly 50% of the total number of projects recorded in East Anglia in 2015.
“The region has seen sustained performance over the last decade – both in terms of attracting new investment projects and creating more jobs – which demonstrates that investors continue to see Cambridge and the wider East region as an attractive destination for foreign investment.”
Across the UK, there was a 20 per cent increase in the number of projects (1,065) attracted last year, the largest number since the survey began in 1997. This growth confirms the UK as Europe’s clear FDI leader.
You can read the full EY report here.