West Midlands hailed as a ‘strategic investment location’

The government has named the West Midlands as a leading region for foreign investment in healthcare and mobility.

The region has been declared a nationally significant location for the two sectors, as part of a major initiative by the Department for International Trade (DIT) to boost Foreign Direct Investment (FDI) in the UK.

Birmingham and Solihull have been exclusively selected as the UK’s top destination for opportunities in healthcare, while Coventry and Warwickshire is among the leading regional locations chosen as a centre of excellence in connected and autonomous vehicle (CAV) modelling and simulation.

The West Midlands has performed consistently strongly in attracting foreign investment, with 2020 marking the fifth year in a row that the region has ranked as the UK’s leading location for securing overseas investment outside of London and the South East.

Global heavyweights such as Lotus Cars, IPG Photonics – the world’s leading manufacturer of high-performance lasers – and US professional services consultancy Alvarez & Marsal are among the region’s most high-profile investors from the last five years.

‘Despite current economic challenges, the West Midlands remains a strategically investable destination for the UK, which this latest government announcement shows,’ said the West Midlands Growth Company’s chief investment officer, Dan Storer.

ringing forward nationally significant innovation in areas such as low-carbon and smart mobility, data-driven healthcare and sustainable construction.

‘We welcome this added impetus from DIT, which will support our inward investment efforts ahead of major opportunities such as the Birmingham 2022 Commonwealth Games.’

The chair of the Greater Birmingham and Solihull Local Enterprise Partnership (GBSLEP), Time Pile added: ‘The impact of the COVID-19 pandemic has brought to the fore the critical role of innovative, data-driven healthcare systems. The Greater Birmingham region continues to be a major proving ground for technologies in this field, anchored by the world-class research capabilities of our universities and powerful alliances that include Birmingham health partners.

‘Government’s endorsement of our digital healthcare ecosystem as a high potential ppportunity will help the GBSLEP in partnership with the West Midlands Growth Company drive further inward investment into this nationally important cluster.’

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