Foreign Investment in UK: North West

Business, Innovation and Skills written question – answered on 15th July 2010.

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Photo of Esther McVey Esther McVey Conservative, Wirral West

To ask the Secretary of State for Business, Innovation and Skills what support his Department has made available to attract inward investment to (a) Wirral West and (b) the North West in the last three years.

Photo of Mark Prisk Mark Prisk The Minister of State, Department for Business, Innovation and Skills

The information requested is as follows:

Under the current economic development structures in England, the Department for Business, Innovation and Skills allocates budgets to regional development agencies. The agencies determine what assistance to provide to business, subject to the terms of the accountability and financial framework and their delegated financial authorities. RDAs' investments have been guided by the regional economic strategy and their corporate plans.

North West( 1)

UK Trade and Investment (UKTI) is the Government Department that leads on work to attract high quality foreign direct investment (FDI) into the UK in partnership with economic development agencies, and other Government Departments, across the country. This delivers a high standard of service throughout the investment process. Full use is made of the UK's global network of embassies, high commissions and consulates. Significantly assisted by that work, over the last few years, the Northwest has been the most successful UK region, outside of the South East, for attracting FDI projects.

The total number of FDI projects for the financial years 2007-08, 2008-09 and 2009-10 was 511 (see table). In 2009-10, despite the current economic climate, there were 179 FDI projects in the North West, estimated to involve nearly 13,500 jobs-over 7,000 of those being new, the remainder safeguarded. The public sector were involved in nearly 70% of these projects.

( 1) Source:

UKTI and NWDA

Total North West
Number/£
2007-08
Total Projects 156
Associated Jobs 14,444
Public Sector Involved(1) 93
Grant Ass-projects 17
Grant Ass-total (£) 14,554,700
2008-09
Total Projects 176
Associated Jobs 11,436
Public Sector Involved 111
Grant Ass-projects 11
Grant Ass-total (£) 9,048,400
2009-10
Total Projects 179
Associated Jobs 13,486
Public Sector Involved 125
Grant Assisted Projects 25
Grant Assistance (£) 38,143,000
(1) Public Sector Involved, Grant Ass-projects and Grant Ass-total (£ million) figures provided by NWDA

Wirral West(2)

Records show no FDI projects over the past three years for postcodes CH48 and 47, which are in Wirral West, and none in the shared constituency postcodes of CH41 and 49.

( 2 ) Source:

UKTI

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