Posted on Thursday 18 June 2015 by Ulster Business
Northern Ireland may be a relatively small economic region but we’re punching above our weight when it comes to sizeable inward investments.
The 48 overseas companies tempted here in the last year created, on average, 83 new jobs, according to a new report from UK Trade and Investment.
In total, that amounts to 4,007 jobs for the 2014-2015 year, and is a much better ratio than any other UK region.
The average number of jobs created per investment project for Wales last year stood at just 50, for Scotland 46 and for England, excluding London, just 42, the report said.
Still, Northern Ireland’s 48 investments are less than those for other regions.
Wales attracted 101 projects last year, Scotland 119, England (excluding London) 905. London itself managed to attract 796 new projects and created 38,157 jobs.
As a whole, the UK received £44bn of FDI inflows in 2014, one third of the total EU in flows.
And when it comes to the accumulated value of inward FDI stock, the UK ranked third in the world with $1.7tr (£1.1tr) worth recorded last year. That’s just behind China at $2.7tr and the US at $5.4tr.
Minister for Trade and Investment the Rt Hon Lord Maude of Horsham welcomed the report.
“These results confirm that we have the right approach. International companies see the strength of the UK as a place to do business. Their commitment to invest in and trust in the UK economy is higher than it has ever been before. The outlook for the UK economy is very positive.”