Foreign direct investment projects coming into Yorkshire and the Humber will create more than 7,000 new jobs, according to figures just out.
New government statistics say that’s just part of nearly 80,000 jobs across every part of the UK, Northern England has seen huge gains, with Yorkshire and The Humber landing 103 FDI projects which will create 7,378 new jobs – an increase of 97% on 2021/22 and 423% on 2020/21 – while in the North West and North East, 198 projects are set to create 8,867 jobs.
In just three years, the North West and North East have seen 604 FDI projects landed, leading to 25,872 new jobs.
The Midlands has also seen scores of new projects creating thousands of jobs. In 2022/23, 265 FDI projects were landed which are set to create 11,091 jobs, and in Wales, 47 projects will create 3,062 jobs – up by 71% on the 1,793 in 2021/22.
Minister for Investment Lord Johnson said: “These statistics reflect the sentiment I hear from foreign investors every day: the UK is a great place to invest and a fantastic springboard to start and grow a successful business.
“These figures confirm investors are looking beyond London and the South East as they search for high growth opportunities with highly skilled workforces. These investments are also supporting our strongest industries and creating the jobs of the future, from aerospace and car manufacturing to financial services and tech.”
Inward investment is said to be crucial for growing the UK economy, and the latest statistics back up recent reports from PwC and EY that found investors are continuing to increase their confidence as well as their investments in some of our key sectors.
The automotive sector has seen 76 new FDI projects in 2022/23, leading to 3,807 new jobs – up from 1,786 two years ago – while aerospace projects will create 3,208 new jobs – up from 1,277.
