Lincolnshire investment hotspot draws in £170m from abroad Magazine

Lincolnshire investment hotspot draws in £170m from abroad Magazine

Greater Lincolnshire has been revealed as an investment hotspot by attracting more than £170m in foreign business investment last year – a 20% up on the previous year.

The private sector money was used to fund 18 projects, which helped create 447 new jobs and safeguarded a further 100. The sectors to benefit most were food and drink, renewable energy and advanced manufacturing, all of which are a priority for the Greater Lincolnshire LEP. The investment came into the county from the USA, Europe, Singapore, Japan and China.

Among the success stories were USA-owned agri-food business Alltech, Japanese-owned aerospace company NMB Minebea, and Chinese-owned rail and automotive manufacturer Dynex.

Cllr Colin Davie, Executive Member for Economic Development at Lincolnshire County Council, said: “Lincolnshire has become an investment hot spot, offering a wide range of opportunities to both developers and investors. These figures underline that global businesses recognise our potential.

“We’re home to a host of innovative companies with exciting career opportunities, and offer access to most of the major markets in England and beyond. Our thriving universities are creating a growing talent pool, while our connectivity and access to ports are unrivalled.

“Significant infrastructure schemes are bringing new opportunities, and we have a wide range of employment land, hotel sites, three specialist food enterprise zones and housing land identified for development.

“Quite simply, we are a place to grow, and I expect we will become even more attractive to investors over the coming years.”

Pat Doody, Board Director at the Greater Lincolnshire LEP, added: “We’re pleased with these latest figures for Greater Lincolnshire, which goes to show that our support for international business is starting to pay off, through our collective investment in partnerships, Team Lincolnshire and investment programmes. We work closely with the teams at the Department for International Trade and the Midlands Engine investment hub, combing our expertise in funding, skills, recruitment, expansion and relocation.

“And we also ensure businesses are well connected by holding a range of events, including the Manufacturing Conference on Friday 15th September and LEP Business Live, which will be taking place on Friday 20th October.”

“The UK attracted more foreign direct investment projects than ever before this year, and, overall, the UK is still the number one destination for inward investment in Europe, with the technology, renewable energy, life sciences and creative industries all seeing an increase in the number of projects. In Greater Lincolnshire we are already seeing some exciting and interesting investments for next year and look forward to supporting the businesses around our patch to maximise their successes.”

Any businesses looking to become a part of Lincolnshire’s international story can get support from the Business Lincolnshire Growth Hub, which offers a wealth of experience, offering expertise in investment and growth, business intelligence, regeneration projects and commercial property management.

Tags: Finance

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