Member Article

Manchester secures foreign direct investment becoming third most successful city in UK

In 2014 Manchester secured 19 foreign direct investment (FDI) projects moving its place from fifth to third most successful city in the UK in attracting FDI according to a survey by EY.

Manchester was bettered only by London and Belfast and the North West region as a whole attracted 47 FDI projects in 2014.

Despite the North West total being a 16% decline on the 56 projects it attracted in 2013, the 47 projects for 2014 was still above its ten year average and ahead of results in 2012 and 2011.

The UK retained its leading position in Europe for FDI.

The total volume of projects in the country rose by 11% to 887 in 2014, the largest national total since the survey began in 1997.

North West Senior Partner at EY, Simon Allport, said: “The North West’s performance in attracting FDI in 2014 held up well in comparison to the 10-year average, albeit the volume declined compared to 2013, which was a strong year.

“The region’s performance in 2014 and its long-term FDI success are underpinned by a compelling offering for investors that includes national and international transport links, a skilled workforce across a number of sectors and a globally integrated business services industry.

“Manchester’s strong FDI performance in 2014 is a credit to the city’s leadership and the way they work to support businesses, and the impact of Manchester’s world class academic institutions on the talent pool, alongside other factors.”

This was posted in Bdaily's Members' News section by Sophia Taha .