28 Sep Thames Valley Chamber Inward Investment Report 2016/17
Report on another highly successful year for securing Foreign Direct Investment (FDI) into the Thames Valley.
Working closely with the Department for International Trade – Investment Services Team and the Local Enterprise Partnerships the Thames Valley is the home of the UK’s ‘turbo-economy’.
Viewed as one of the most economically vibrant and well connected communities in the UK, the Thames Valley is:-
- Set to have one of the fastest growing economies during 2017-19.
- Reading is set to be the UK’s fastest growing city over the next three years.
- Outside London, top 2 cities with the highest levels of productivity by GVA per worker, are Slough (2nd) and Reading (3rd).
In 2016/17 we recorded one of the highest numbers of FDI projects since recent records began and this year’s results reaffirms our position as one of the most consistently high performing and successful regions for attracting FDI in the United Kingdom.
- 70% of international companies setting up in the UK for the first time are locating within one hour of London Heathrow, showcasing the importance of the Thames Valley and the leading role it plays in the UK.
- The timely delivery of a 3rd runway at London Heathrow with 16 new domestic routes, will bring greater connectivity to international cities and over £200bn in economic benefits across the UK.
- Western Rail Link to London Heathrow, which is estimated to deliver £800m in economic activity, 42,000 jobs and up to a 70% reduction in journey times for the Thames Valley region, will bring 20% of the UK population within one interchange of London Heathrow.
The region continues to provide the property and site options that attract and retain investors. We can now offer two Enterprise Zones (EZs) in Buckinghamshire (centred on Aylesbury) and Oxfordshire (Didcot) as locations offering targeted incentives to companies looking to invest in the EZs.
And finally, we can celebrate the fact that Oxford University achieved the top spot in the University world ranking for the second year in a row. Based on an ethos that is good for the whole Thames Valley: –
“Success in our region is never an accident; it is achieved by a relentless pursuit of excellence, creative brilliance and a deep commitment to our enduring values.”
To read the full Inward Investment Report click here.
Contributor: Nick Hardy