UK wins record inward investment in 2007-08 - press release

According to the figures, published by UK Trade & Investment, over 120 new jobs were created each day as a result of this investment from overseas companies, bringing employment and wealth to every area of the country.

John Hutton, Business and Enterprise Secretary, said: “These results are a ringing endorsement of the UK as an international investment destination, demonstrating that our compelling mix of a business friendly environment, political and economic stability, world-class talent, and a strong research and development base, is a powerful magnet for overseas companies.”

Other highlights of the “UK Inward Investment 2007-8” report include:

• Total projects up 10 per cent from 1,431 to 1,573

• 45,051 new jobs created and a further 58,488 safeguarded, bringing the total number of associated jobs to 103,539 (up 32 per cent)

• 653 (42 per cent) of the total were new projects and 436 (28 per cent) of the total were expansions by existing investors

• R&D operations increased by 83 per cent to 251 projects; with high value and R&D intensive projects representing two thirds of the total

• Advanced Engineering projects rose by 61 per cent to 182 projects

• Environmental Technologies projects increased by 22 per cent to 59

• Though we have seen a slight softening in last year's record figure, the US remains our biggest investor - representing some 30% of the total investment projects, and almost 30,000 new and safeguarded jobs

David Miliband, Foreign Secretary, said: "The UK has a global reach and our investment pipelines are spread across the world. Once again, the US remains our biggest investor; but we have also increased investment from a range of key countries including Sweden and Japan, important for the rich research and development investment they bring; Australia, highlighting that the UK is an attractive base for expansion within Europe; high-growth markets such as India and China; and Ireland, Germany and the Netherlands, demonstrating that the UK's economy represents an opportunity for our neighbours too.

Lord Digby Jones, Minister for Trade and Investment, said: “As a passionate advocate of UK business success, I am delighted these figures reflect our continued ability to punch above our weight on the global stage. In a year of international financial uncertainty this impressive performance exemplifies that now, more than ever, the UK economy is synonymous with opportunity and global potential.”

Press contact

For more information please contact Kate Keating in the UKTI press office on 020 7215 4218 or kate.keating@uktradeinvest.gov.uk

Notes to Editors

• 1).UK Trade & Investment is the UK Government's international business development organisation, supporting businesses seeking to establish in the UK and helping UK companies grow internationally. The services offered by UK Trade & Investment bring together a network of business sector specialists and support teams in London, Glasgow, Cambridge, the nine English Regions and in British diplomatic posts in some 100 markets all around the world. UK Trade & Investment works with a wide range of partner organisations in the UK, including other Government departments, Regional Development Agencies and the Devolved Administrations, Business Links, Chambers of Commerce and trade associations. For more information, visit the web site at www.uktradeinvest.gov.uk. For latest press releases, visit the online newsroom at http://www.newsroom.uktradeinvest.gov.uk

• 2).To download the report and other resources related to the UK Inward Investment Report 2007-8 please visit www.ukinvest.gov.uk/investment-report

• 3).The UK Inward Investment 2007-8 report records all inward investment decisions notified to UK Trade & Investment for the financial year 2007-8 by the nine English regional development agencies and the national development agencies in Scotland, Wales and Northern Ireland. It includes new investments, expansions, and acquisitions. Acquisitions were independently validated and verified by the UK development agencies.

• 4).Statistical breakdown

*please note, the published figures have been rounded up, or down, as appropriate to provide meaningful data.

Trends

2007/2008 Results

• 1,573 investment up 10% on 2006/2007

• 45,051 new jobs created up 23% on 2006/2007

• 58,488 safeguarded jobs up 39% on 2006/2007

• Total of 103,539 associated jobs (new & safeguarded) up 32% on 2006/2007

Based on the figures above:

• Everyday 283 jobs are created or safeguarded

• Every day 123 new jobs are created

• Every week 866 jobs are created

• Everyday we attract 4 projects

• Project Type

Project by Operation

Projects by Sector

*Figure revised since publication of 2006/07Annual Report

Projects by Origin

Return to the main report page

Access PDF versions of the full report and sector breakdowns on our UK Inward investment report page.