Region urged to take Sheffield’s lead in attracting inward investment

Published 2nd September 2013 at 10:43am

THE rest of Yorkshire could follow Sheffield’s lead in attracting inward investment following the city’s special mention in a major Government report, according to business advisory firm Deloitte.

Sheffield City Region, home to one of the UK’s leading Enterprise Zones, has been highlighted in a national report by UK Trade & Investment (UKTI) for attracting foreign investment, particularly within the automotive industry.

Since April 2012, the Sheffield City Region Enterprise Zone has attracted 15 new occupiers and created 228 new jobs, pushing it to the forefront of the UK’s industrial and entrepreneurial development.

According to Deloitte, Sheffield is leading by example as is the professional and financial services hub in Leeds which is also featured in the report. The services sector accounted for the highest number of projects receiving inward investment.

Deloitte suggests the rest of the region can learn a lot from these success stories.

Nick Marsden, international and corporate tax partner at Deloitte in Leeds, said: “Sheffield has rapidly become a coveted area for inward investment. It is a top choice for foreign investors wishing to strategically grow their assets here in the UK. The growing ‘Made in Sheffield’ brand is something to be proud of and is a testament to the region’s hard-working business people.

“Yorkshire has core sector strengths in advanced manufacturing and engineering, creative and digital industries and business services, all of which have been identified in the report as being boom areas for the country – the region is clearly playing a part in improving the economy of the nation.”

Kate Powell, director of South Yorkshire at Deloitte, added: “Sheffield is going from strength to strength and is worthy of the report’s praise – it ticks all the boxes. It’s at the heart of key road and rail networks and there are two excellent universities here – talent is right on the doorstep.

“Businesses need to keep this up and look to attract further investment to the City Region to grow economic activity and jobs further.”