City Region prominent in foreign investment ranking
The Sheffield City Region Local Enterprise Partnership (LEP) has placed fifth in a UK ranking of foreign investment potential.The results were released by the Financial Times fDi Magazine, which tasked a team of investment analysts and experts to assess the performance of the UK’s local enterprise partnerships.
The report, which analysed the effectiveness of the 39 LEPs in attracting foreign direct investment, places the City Region ahead of most other ‘core cities’ including Manchester, Nottingham and Birmingham.
Local Enterprise Partnership Chairman James Newman said, “The LEP is committed to an inward investment strategy which will stimulate economic growth and create long-term employment.
“Whilst I was surprised to see the LEP didn’t take the top spot in this league table, our relatively high rank reflects the strength of collaboration between the private and public sector and the importance of this to attracting overseas investment.
“Sheffield City Region has very compelling offer to foreign investors. Our recently established Inward Investment Team is working hard to capitalise on the strength of this offer.”
David Grey MBE, LEP Board Member and Group Managing Director of Sheffield-based manufacturing group OSL Group Holdings Ltd, said:
“It is clear that that our City Region can offer an unbeatable package to foreign investors and that makes the work of fine-tuning our sales proposition and targeting our communications more important than ever.
“The LEP’s highly skilled Inward Investment team is now in place and is taking on the challenge of ensuring that we exploit our strengths.
The value of this team’s role is vital to the LEP achieving its vision of economic growth for the City Region.”
The study was created by an independent collection of key economic criteria by fDi Benchmark across the 39 approved Local Enterprise Partnerships.
This information was set under six categories: Economic Potential, Skills and Education, Cost Effectiveness, Quality of Life, Infrastructure and Business Friendliness, Promotion Strategy.