Foreign Investment in UK: Yorkshire

Business, Innovation and Skills written question – answered on 24th November 2010.

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Photo of Julian Smith Julian Smith Conservative, Skipton and Ripon

To ask the Secretary of State for Business, Innovation and Skills what proportion of Government-supported inward investment in respect of Yorkshire was attributable to (a) UK Trade and Investment and (b) Yorkshire Forward in the latest period for which figures are available.

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

For the financial year 2009/10, which is the last period for which full figures are available, a total of 147 foreign direct investment projects was recorded by UKTI in the Yorkshire and Humber region. A total of 93 were assisted by Yorkshire Forward, UKTI or a combination of the two. This breaks down as follows:

(i) UKTI and Yorkshire Forward jointly: 27;

(ii) UKTI alone: 11;

(iii) Yorkshire Forward alone: 55.

HM Government currently fund the work of the regional development agencies (RDAs) through the RDAs' Single Budget, which is administered by the Department of Business, Innovation and Skills. UKTI is one of the Government Departments which contributes to the RDAs' Single Budget. UKTI's contribution is specifically intended to fund the foreign direct investment work of the RDAs, including Yorkshire Forward, as part of the UKTI-led national foreign direct investment effort.

UKTI's estimated contribution to Yorkshire Forward in the financial year 2009/10 was £2,183,000, 13.31% of the total of £16,401,000 paid by UKTI into the RDAs' Single Budget during this period.

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