The Black Country continues to see significant investment from foreign owned companies over the past 12 months according to new figures released by Department for International Trade.
FDI (Foreign Direct Investment) has created a total of 748 new jobs and 269 safeguarded jobs in the Black Country in 2016/17 from 21 projects including a mix of new investment and existing company expansion.
Automotive and financial services saw particular growth in investment for the Black Country in 2016/17 with major employers Rimstock and Charter Court Financial Services respectively leading the way for their sectors.
Stewart Towe, Black Country LEP Chair, said: “The Black Country continues to be recognised as an investment destination and rightly so. Not only are we growing investment in the manufacturing sector but we are seeing a growth in financial services demonstrating that the message that the Black Country is open for business is spreading across sectors.
"It is fantastic that the West Midlands once again leads the way with 151 projects and 6570 new jobs created, higher than any other UK region outside London, testament to the work of the Black Country LEP and our partners across the whole area.”
Published by Department for International Trade, the UK’s Inward Investment Results for 2016/2017 shows that the UK attracted more FDI projects than ever before - 2,200 projects recorded represents a 2% increase on the previous year – and has maintained its position as the number one destination for FDI in Europe. The data also shows that over 107,000 new jobs were created or safeguarded through FDI nationally, amounting to over 2,000 jobs per week across the country.
For further information on investment opportunities in the Black Country visit www.investblackcountry.com
Picture caption: Rimstock, alloy wheel manufacturer based in the Black Country.