Yorkshire looking less attractive

The number of foreign direct investment (FDI) projects locating in Yorkshire fell in 2011, according to a survey which analyses inward investment.

Ernst & Young’s annual UK Attractiveness Survey shows that the region attracted 20 FDI projects last year, down a third on 2010, creating 545 jobs. Yorkshire ranked tenth by number of FDI projects, out of 12 UK regions.

The picture is mirrored across other English regions outside London and the South East, which all saw double-digit decline in projects.

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David Buckley, Ernst & Young’s Yorkshire senior partner, said: “The fall in the number of FDI projects in Yorkshire is, to a large extent, reflective of other regions across the UK. However, these findings must act as a wake-up call.

“The number of FDI projects attracted to Yorkshire is down 33 per cent and the region has attracted less foreign investors than our regional neighbours in recent years. In times of austerity it is ever more important that we are an attractive location for FDI, to drive employment and business growth.”

He added: “Perhaps not surprisingly, foreign investors tell us that we need to focus on: R&D and innovation, developing education and skills and creating a strong economic environment to be more attractive. But there is no silver bullet.”

One of the largest projects, by jobs created, to locate in Yorkshire was German-owned sweet manufacturer, Haribo, creating 286 jobs at a new factory in Normanton. West Yorkshire secured the most number of investments in 2011, namely 12, followed by South Yorkshire, which attracted three.