Global appeal as region attracts £135 million in foreign investment
More than £135 million has been invested in the region from overseas in the last year.
That is according to latest Foreign Direct Investment figures (FDI), which show how much has been invested in The Marches area - which covers Shropshire, Telford & Wrekin and Herefordshire.
According to the statistics, there were 20 new FDI projects in the region - with eight of those coming to Telford.
In addition, Telford has created 81 per cent of new jobs through the projects (840 jobs out of a total of 1,041) and has received a total investment sum of £59,175,000 which accounts for 44 per cent of the total investment in The Marches.
The Telford investments include three from North America, four from Europe and one from Latin America and the Caribbean.
Telford & Wrekin Council bosses believe it is in pole position to attract new foreign investment through the authority’s link-up with Harper Adams University and the Department of International Trade and Ni.Park in Newport, which is attracting global agri-tech businesses.
Research shows more overseas investors are looking at sites outside of London and the South East.
In 2020-21, The Marches area recorded 14 new FDI projects in the last year, with Telford winning four out of the 10 single site schemes and securing nearly half of the 220 new jobs created.
Two of those projects include Provisur at Ni.Park and Nofence which is based at the Agricultural Engineering Innovation (Agr-EPI) Centre at Harper Adams University.
US-founded business Provisur, which has headquarters in Chicago, is a global food processing manufacturing firm which is delivering the pressing and slicing side of its business operations from Ni.Park because of its central location and agri-tech links within the food industry.
Norwegian firm Nofence, which secured support through Telford & Wrekin Council’s Enterprise Telford programme, has devised a fenceless grazing system which uses solar-powered GPS collars to train animals to stay in a specific area, which is being widely used by businesses in the UK and across Europe.
Aaron Hale, Provisur account manager slicing, UK & Ireland, said: “We looked at a number of possibilities for the UK base but the unit at Ni.Park was shortlisted because of its central location, the excellent units it offers on site and its links with Harper Adams University.
“The company believed that being located in the Midlands in the heart of the UK was the best solution, which is why we opted for this base.”
Councillor Lee Carter, Telford & Wrekin Council’s cabinet member for neighbourhood services, regeneration and the high street, said: “Our ability to attract new investment from overseas in what has been exceptionally difficult economic conditions over the last few years, shows how highly regarded our borough is.
“Our central location, ready to go and affordable land and great business support offer have been cited by investors and are the main reasons for our continuing success.
“Telford is well positioned to take advantage of this great opportunity and we can demonstrate our green credentials to FDI investors and a collaborative business community that operates across our key sectors of agri-tech, digital, advanced manufacturing, food and automotive.”
