Overseas investment in the Marches rises by a third
The number of overseas investments in Shropshire and Herefordshire increased by more than a third last year, bringing more than 800 jobs to the region.
Figures published by the Department for International Trade shows that there were 21 overseas investments in the Marches area in 2016-17, an increase from 15 in the previous year.
Those investments helped create 832 new jobs in the counties, safeguarding another 320.
The Marches LEP directly supported 15 of the investments, including an investment by automotive manufacturer Magna for a new facility being built in Telford. This alone will create up to 295 new jobs in its initial phase.
Gill Hamer, director of the Marches LEP, said: “To see a 40 per cent increase in the number of foreign businesses choosing to invest in the Marches region over the past year is fantastic and serves to highlight just how much the region has to offer – not just to those already familiar with the area, but to new businesses too as ten of the investments were made by firms completely new to the Marches.
“Nine investments were made by manufacturing companies which demonstrates the continued appeal of the region to these firms.
"It is, however, also encouraging to see that almost a quarter of the investments made were in the establishment of Head Offices, a fact which underpins the region’s attractiveness and competitiveness vis-a-vis other areas.
“Of course, without the support and hard work of the investment teams at our three local authority partners, it would be impossible for the Marches LEP and the Department of International Trade to convert these investment leads in to tangible growth in the region.”
