With investments from more than 150 companies, creating almost 4,000 jobs, 2017/18 was a hugely successful year for Sheffield City Region’s inward investment team.
Targets were exceeded for both foreign inward investments and in UK-owned investment projects – the latter particularly in Doncaster, which is becoming increasingly renowned for its outstanding logistics opportunities.
Key to economic growth was strong collaborative working with local authorities, as well as the city region’s two universities and other partners.
Chris Scholey, chair of the Sheffield City Region (SCR) Trade and Investment Advisory Board, said; “These figures demonstrate what those of us in our city region have known for some time. We are world-leading in areas such as advanced manufacturing and health technologies, and are increasingly attracting investment from companies based in the UK and across the world.
“There are several reasons for our successful and sustained growth. These include our position as a super-connected city region at the heart of the UK; our excellence in logistics and our straightforward, can-do attitude.
“Our inward investment experts work with businesses to make their move here as seamless and streamlined as possible. I am glad that their hard work has seen real, tangible results that will create jobs and contribute to wider economic growth.”
The new figures, which went before the SCR Trade and Investment Advisory Board at its meeting yesterday (Thursday 24 May) show that investment from foreign companies was spread across a range of sectors, with the food and drinks sector accounting for the largest amount of projects in total.
Domestic investment comprised around 80 per cent of total investment in the SCR, with 125 companies creating 2,508 of the total 3,857 new jobs.
Manufacturing and engineering sectors continued to dominate the domestic investment projects in 2017/18, accounting for 22 of the 125 inward investments. The remainder of the projects were spread across a range of sectors.
Mr Scholey added: “In terms of both foreign and direct investment, we are achieving good jobs growth. We are proactively showcasing the SCR on an international level, at events such as MIPIM Cannes and by hosting the Horasis China Meeting here in the city region – and this ambitious approach is paying dividends.
“Next week, for example, we’ll be heading to Poznan in Poland with businesses and partners from across the city region, to form potential trading relationships and demonstrate the excellent offer that the SCR has to investors.
“As well as retaining our focus on the USA and Europe, we are also increasingly focusing on other potential source markets, most notably India. I hope that our straightforward, bold and enterprising outlook will continue to attract businesses here and result in even greater success in 2018/19.”