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Leeds City Region continues to climb the FDI league table

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24 May 2016

“I’m delighted with the findings of the latest EY Attractiveness Survey. In its simplest terms it highlights that the region is a world class destination for foreign direct investment (FDI) and is more attractive to investors than ever before.

“This year’s figures show how over the last 12 months the City Region attracted 5.6% of foreign direct investment into the UK, and that over the last three years it has grown levels of FDI at a faster rate than the country as a whole. This good growth is a result of the combined efforts of our City Region’s Local Authorities and the LEP, who together have galvanised the City Region’s offer to international investors, resulting in projects such as Haribo’s new plant in Wakefield and Hallmark’s relocation and investment in its UK headquarters in Bradford.

“EY’s report also emphasises the crucial role Leeds as a city and the wider City Region play in the Northern Powerhouse; with Manchester and Leeds identified as the first and second choice English core cities for international investment outside of London.

“I feel it’s important to highlight that these statistics only take into account foreign investment. Alongside this, the City Region has seen investment and expansion from domestic businesses including Legal & General Homes into Selby, as well as Sky and Burberry into Leeds South Bank. This shows that we are not just a destination for investment but an environment where businesses can flourish and grow.

“The survey findings vindicate the City Region’s ongoing work to increase its international profile. Looking to the future we are implementing an international business plan, which will extend our global reach and generate more knowledge driven growth and ultimately play a critical role in rebalancing the regional and national economy.

“I look forward to reviewing this report again in 12 months’ time and sharing further success on our core objective of growing the region’s economy.”