MIPIM has 'tremendous impact' on growth of international investment in Leeds City Region
The Leeds City Region economy has received a significant boost when attending MIPIM over the past five years, new analysis has revealed.
Attendance at the international property conference has generated more than 430 inward investment enquiries and this year alone has led to visits from Chinese investors and representatives of globally recognised brands.
As a direct result of attending the conference, the City Region has been put in contact with more than 100,000 influencers, investors and money managers.
This increased interest in the region from international investors has greatly impacted the financial year 2016/17, with Leeds City Region recording its most successful year to date in attracting foreign direct investment (FDI).
As the UK’s largest City Region outside of London and the South East, Leeds played a key role in increasing business activity in Yorkshire in global professional services organization EY’s 2017 Attractiveness Survey, which named it the only region in the Northern Powerhouse to see an increase in inward investment.
The Department for International Trade’s (DIT’s) annual report also showed that Leeds City Region’s levels of investment increased by over a fifth (22%), securing 100 FDI projects, creating and safeguarding a minimum of 3,000 jobs.
Simon Marshall, joint chief executive at Scarborough International Properties and a sponsor of the Leeds City Region’s attendance at MIPIM, said: “Scarborough International Properties is currently developing the 1.65 million sq ft second phase of Thorpe Park Leeds with our development partner Legal and General Capital and being part of the City Region’s presence at MIPIM over the last three years has been crucial in helping us to raise awareness about the scheme.
“As a business we’ve partnered with a number of local authorities in the past at the conference and still work with many now to promote our developments such as Middlewood Locks in Manchester and Sheffield DC.
“Leeds City Region’s approach to this conference mirrors what many other locations are doing but I believe the strong focus on public private partnership is driving the City Region forward in a progressive and creative way.
“At Scarborough we believe that the success of the City Region in attracting FDI is inextricably linked to the Region’s united front at conferences such as MIPIM.”
Roger Marsh OBE, chair of Leeds City Region Enterprise Partnership, concluded: “This latest analysis shows MIPIM has a tremendous impact upon our success as a region at attracting inward investment.
“I believe it is crucial for us to be part of the conversation at MIPIM and to profile our opportunities to an international audience as if we miss this chance we are doing future generations a disservice, and we will lose out to our competitor city regions in the North, South and West.
“Our attendance is only possible due to the continued and growing funding from the private sector which recognises the huge benefits MIPIM can bring to the City Region’s economy.
“I’m delighted that our region to date has its largest list of private sector sponsors ever ahead of MIPIM 2018.
“I look forward to standing shoulder to shoulder with all of the City Region’s delegates to showcase how the region is already delivering significant returns to investors, continuing to attract major occupiers; and how now is the time to become part of our story.”
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