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PRIVACY
Economic Development

Foreign investment boosts West Midlands job market by 11,000

New research shows foreign companies created more than 11,000 roles in the region over past year

(Image: Ben Pruchnie/Getty Images)

Inward investment from foreign companies has created more than 11,000 jobs in the West Midlands over the past year, according to new figures.

The Department for International Trade said the newly released data, which has been broken down by region for the first time, also showed that almost 15,000 roles were created across the whole of the Midlands.

A total of 11,119 new jobs were created across 168 projects throughout the West Midlands region during 2015/16 while its counterpart in the East saw 3,678 roles created in 85 inward investment projects.

Since 2010, 62,475 jobs have been created across the West and East Midlands as a result of overseas investment with big name companies such as Vodafone and Jaguar Land Rover among those creating jobs in the region.

Whereas during 2016/16, German automotive supplier Brose expanded its Coventry site, creating 500 new jobs and making the base its largest in Europe.

International Trade Secretary Liam Fox said: "These upbeat figures show the Midlands Engine is already seizing more opportunities to drive investment into the region and create jobs.

"Through our £5 million trade and investment package, we will support the Midlands Engine to promote their fantastic region to foreign investors and trade partners, reach new markets and boost exports.

"This report shows the vital role the Midlands Engine is playing in rebalancing our economy."