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PRIVACY
Economic Development

More foreign investment in Greater Birmingham than any other region

The number of foreign direct investment (FDI) projects in the Greater Birmingham trumped the 37 other regions, data for the 2014 financial year shows

The refurbished Five Brindleyplace, soon to be the home of Deutsche Bank which is one of the city's best foreign investment stories of recent times

There were more foreign investment projects in Greater Birmingham last year than any other English region, new data reveals.

The number of FDI - foreign direct investment - projects in the Greater Birmingham and Solihull LEP , to 77, which trumped the 37 other regions, data for the 2014 financial year shows.

The region also created the most jobs – a total of 4,841 – a 98 per cent increase on the previous year, compared to 3,350 at its nearest challenger New Anglia LEP.

The 77 foreign investment success in Greater Birmingham demonstrates support for the region's traditional strengths like advanced manufacturing and the automotive industry and backing for fast-growing new industries like digital media and IT services.

The data is revealed in a º£½ÇÊÓÆµTI report, which states: "Greater Birmingham and Solihull saw the biggest increase in 13/14 with project numbers increasing by 57 per cent from 49 in 2012/13 to 77 in 13/14.

"Black Country, Lancashire and New Anglia all saw large percentage increases in FDI projects with an additional 14, 19, and 13 projects respectively as compared 2012/13. Three LEPs saw their project numbers decrease this year as compared with last year."

The number of new jobs created in the Greater Birmingham area rose to 4,841 from 2,439 in 2013, with significant investment and jobs coming from the advanced manufacturing sector.

led the charge with a £1.5 billion investment in its Solihull site as part of plans to develop an all-new technically advanced aluminium vehicle architecture.