Stoke-on-Trent has been recognised as one of Europe’s most promising places for inward investment, economic growth and business expansion.

The city was picked as one of the top 10 in the European Cities of the Future Awards for Micro Cities.

The awards recognises cities with a population of less than 250,000, and Stoke was picked for its strong transport links and business connections across Europe.

Stoke is home to a number of business headquarters including Michelin, FedEx UK and Phones 4U.

Stoke-on-Trent City Council cabinet member for economic development, Cllr Mark Meredith, said: “This is fantastic news for the city as it recognises Stoke-on-Trent is punching above its weight not only in the country but Europe despite its relatively small population.

“As part of the city council’s Mandate for Change we are committed to bringing investment and opportunities to the city and this award recognises the fact that our city is definitely open for business.”

Stoke is under-going a £1.5bn regeneration project, with major retail and office led developments in the city centre.

Cllr Meredith added:  “Stoke-on-Trent has long been known as the World Capital of Ceramics with major brands such as Dudson and Steelite based here in the city.

“However, the city is also growing its business base in key sectors such as advanced manufacturing and environmental technologies with the city encouraging links with leading businesses such as Siemens.

“It is an interesting time for the city and the city council, along with its partners, are committed to creating a red carpet approach which supports investment and shows Stoke-on-Trent is open for business.”

The Foreign Direct Investment magazine organises the awards, and look at criteria from cost effectiveness of office space, number of graduates and universities, through to population growth and spend on research and development.

Other cities recognised include Basel and Genk in Belgium, and Reykjavik in Iceland.

Business leaders in Stoke, including Duncan Mathieson, managing director of Realis, have welcomed news of the award.

Mr Mathieson said: “I have long been convinced of the potential of Stoke-on-Trent.  All the fundamentals are right and I believe it is on the brink of real economic renaissance.

“As a result, we have remained firmly committed to our scheme at a time when many other retail-led regeneration projects have fallen by the wayside.  It is great to see the city gain the recognition it deserves.”