The success of the West Midlands’ manufacturing sector has helped drive up levels of foreign direct investment across the region.
Latest figures from UK Trade & Investment (UKTI) show the UK has attracted the most inward investment projects since records began in the 1980s – with manufacturing in the West Midlands receiving a large chunk.
Trade Minister Lord Livingston said: “It’s been an exceptional year for foreign investment with record project numbers creating the highest number of new UK jobs since 2001.”
Jaguar Land Rover led with a £1.5bn investment in its Solihull site. Vax, the household floorcare manufacturer owned by Hong Kong-based TechTronic Industries, was another commitment to the area by placing its new R&D facility in Birmingham’s Colmore Business District.
Stewart Towe, Black Country LEP Chair, said the figures were testament to the ongoing work being done to promote the area as an investment destination. “Our sector strengths, coupled to the effort we have put into raising the profile of the area, mean that we are at the head of a growing pipeline of enquiries in the automotive, aerospace and construction technologies sectors.”