In 2009/10 there were 84 inward investment successes in the West Midlands and another four knowledge-based investments. These investments created over 1,500 new jobs and safeguarded another 4,300.
Of these 88 successes, Advantage West Midlands were involved with just under half but this assistance helped create over 60% of the new jobs.
Some of these inward investments were high-profile including Kraft’s acquisition of Cadbury in Bournville, Birmingham affecting nearly 3,000 employees at their head office as well many more around the country.
Other investments in the news included the acquisition of Birmingham City Football Club by Far Eastern businessman Carson Yeung’s Grandtop International, the continued expansion of the ex-Longbridge car plant by SAIC of China where a new engine test facility is to be built and the taking on 50 skilled engineers by Indian Tata Group’s Jaguar Land Rover.
Some other notable inward investments included:
- Expansion of Japanese tool-maker Makita‘s manufacturing facility in Telford, which created 70 jobs
- Expansion of TK Maxx‘s distribution depot in Newcastle-under-Lyme, Staffordshire, which created 100 jobs
- FourStar from the Netherlands is to open a new UK headquarters in Birmingham employing over 250 people to provide employment and skills training to the unemployed
Two other investments from the United States also catch the eye. Remotec in Coventry, a subsidiary of Northrup Grumman, expanded its facility designing and manufacturing robotic bomb disposal units.
But it’s the opening of a new computer games design studio in Digbeth, Birmingham by Microsoft-owned Rare Games that’s hoped will give a boost to games design in the Midlands. 90 new games designers will be employed there.
Analysis of West Midland inward investment
Further analysis of the inward investment figures show that, with 88 investments, 2009/10 saw the fewest number of investments in the West Midlands since 2005/06 when investment numbers were still recovering from the falls in global investment since 2001. This highlights the fact that the global economic crisis began to seriously affect investment decisions.
Filed under: Data, Economy & Labour Force, Employment, Enterprise, Research, West Midlands | Tagged: Data, economy, employment, fdi, investment, inward investment, statistics, West Midlands | 3 Comments »