Overseas Investment Benefits Local Economy

10 new investment projects were started by overseas businesses in Swindon and Wiltshire during the 2013/14 financial year, creating 186 new jobs and safeguarding 962 existing jobs.

The results were released last week as part of UKTI’s report on Foreign Direct Investment (FDI) during 2013/14.

There was a strong performance on a national level too, as the UK attracted the most inward investment projects since records began in the 1980s. In total, 1,773 investment projects were set up by foreign businesses in the UK resulting in 66,390 jobs being created, the highest since 2001.

Swindon and Wiltshire’s successes were generated from all over the globe with five originating from Europe, the Middle East and Africa, three from Asia Pacific and two from the Americas.

Barry Dennington, Chair of the LEP, said “The results published on Foreign Direct Investment are very encouraging and prove that Swindon and Wiltshire is an ideal location for businesses looking to grow.

“The performance was extremely positive on both a local and national level, and I’m confident that through a strong working relationship with UKTI, we’ll attract even more inward investment from overseas in the future.”

Cllr David Renard, Leader of Swindon Borough Council, said, “I am really encouraged by these latest figures as they prove that Swindon and Wiltshire is seen as an attractive place for firms looking to invest.

“The economic recovery is well underway here in Swindon with multi-million pound regeneration schemes in full swing and these new investment projects are further evidence that we are continuing to head in the right direction in terms of reducing unemployment and safeguarding existing jobs across the area of the Local Enterprise Partnership.”

Leader of Wiltshire Council, Cllr Jane Scott OBE, said, We’re delighted with the recent figures on inward investment. It is indicative of the progress made by Swindon and Wiltshire in the past year and proves that the economic recovery is taking shape in our LEP area

“In Wiltshire, we are seeing the real economic benefits of working with our significant employers, the majority of which are multi-national groups. Their decisions to remain and grow in Wiltshire show the confidence they have in the economic future of our LEP area.”

UKTI’s full report on Inward Investment can be found at www.swlep.biz