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West Midlands booming for international investment

Region records best foreign direct investment performance in over a decade as nearly 100 new projects were launched during 2015

Birmingham and the West Midlands continue to enjoy large volumes of foreign investment

The West Midlands recorded 92 foreign direct investment (FDI) projects in 2015 - the largest number recorded in a decade.

The figure represented an increase of 46 per cent on 2014 when the region attracted 63 projects, according to new research.

The 2015 º£½ÇÊÓÆµ Attractiveness Survey, published by financial services EY, said this represented the largest market share of º£½ÇÊÓÆµ projects recorded in the West Midlands at 8.6 per cent.

The average market share for the West Midlands over the last decade was 6.9 per cent.

Since 2013, the performance of the West Midlands has seen a large improvement with total project numbers up more than 95 per cent between 2013 and 2015, led by investment into Birmingham which is the fourth most successful º£½ÇÊÓÆµ city (outside London) for attracting FDI.

Of the top º£½ÇÊÓÆµ cities in terms of numbers of FDI projects secured in 2015, the Midlands area had three locations represented - Birmingham (24 projects), Coventry (11 projects) and Solihull (ten projects).

Among those investments during 2015 were projects by Indian-owned Jaguar Land Rover and Geely, the Chinese parent of the London Taxi Company.

Further automotive related investment was created by Brose Fahrzeugteile which launched a new manufacturing plant in the West Midlands.