Marches sees 40% boost in overseas investment

The Marches region secured a significantly increased level of investment by overseas businesses during the year 2016-17 resulting in the creation of 832 new jobs, figures have revealed. 

The report, published by the Department for International Trade, also shows that the 21 investments, up from 15 in the previous year, safeguarded a further 320 jobs in the Herefordshire, Shropshire and Telford & Wrekin region.

The Marches LEP directly supported 15 of the investments, including an investment by automotive manufacturer Magna for a new facility being built in Telford (pictured left).  This alone will create up to 295 new jobs.

Gill Hamer, director of the Marches LEP, said: “To see a 40% 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-à-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.”