Yorkshire Post Reports Huge Increase in Business Investment in the Region
Business investment in Yorkshire has witnessed significant growth in the last few years, with a notable increase in both foreign and domestic investments. The Yorkshire Post recently reported a 240% increase in foreign direct investment (FDI) projects in the region, which is the highest in the UK. Additionally, domestic investment has risen by 16%, indicating a strong confidence among regional businesses in Yorkshire’s prospects.
The post-Brexit transition period has led to a surge in demand for regions outside of London and the Southeast, with Yorkshire emerging as a frontrunner due to its strategic location, supportive business environment, and highly-skilled workforce. Furthermore, the region’s accessibility to various modes of transportation and excellent infrastructure, such as the HS2 high-speed railway line and the £60bn Northern Powerhouse Rail project, is increasingly attracting companies seeking to expand their operations.
The rapidly-growing digital sector in Yorkshire has also contributed significantly to its growth as a business hub. According to Tech Nation’s 2021 report, Yorkshire and the Humber sustained the most significant number of digital tech job roles outside of London, employing over 50,000 people. This emphasizes the region’s innovative and dynamic nature and highlights its potential as an ideal hub for investment in emerging technologies.
The recent investments in Yorkshire span multiple sectors and nations. For instance, The City of York secured a significant portion of the nearby Heslington East campus for commercial use. Moreover, the US-based Goodwin PLC has opened offices in Leeds, investing in the fast-growing legal service and technology sector. Lastly, Signature Aviation, a global aviation services company, invested a considerable amount in the expansion of operations at Leeds Bradford Airport.
In conclusion, Yorkshire’s surge in business investment is notable, reflecting its growing economic importance as an attractive destination for both domestic and foreign investors. The region’s business capabilities are poised for further growth as the Government invests in infrastructure and digital capabilities. Yorkshire’s future is bright, and it will be exciting to see how it continues to contribute to the UK’s economic development.
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