An American survey names Birmingham as the best place in Britain for business investment — with the West Midland’s city only outranked by Barcelona across Western Europe.
Compiled by US-based business magazine, Site Selection, the publication’s sixth annual Best to Invest rankings saw Birmingham improve its standing by eight places, from tenth in 2012, to overtake London which could only manage a fifth slot in the latest survey. For Western European nations, the UK came in second, behind Ireland.
Read by more than 43,000 senior, decision-making executives around the world, Site Selection’s Best to Invest list focuses on factors such as growth in new facilities, capital investment, economic strength and infrastructure.
During 2012-13, Birmingham secured 41 inward investment projects, the highest in its history, a 52 per cent rise against a national increase of just 11 per cent. At the start of 2014 the city was home to more than 32,000 companies, including nearly 700 international firms. Among its recent accolades was being named “Foreign Direct Investment Destination of the Future 2013” and being recognised as the most attractive UK regional city for quality of life in Mercer’s 2014 survey.
Wouter Schuitemakeris investment director at Business Birmingham, the city’s official inward investment programme. “In the incredibly competitive race for inward investment, these latest rankings confirm Birmingham’s status as one of the most attractive places in the world for firms to set up,” he said. “They are a testament to the close collaboration of the city’s business community in providing the best possible package for potential investors.”
Throughout 2012 and 2013, the city’s investment strategy is credited with safeguarding or creating at least 4,000 jobs and boosting the area’s economy by at least £174m
“It is imperative that we build on this global recognition and continue to hold our own over our national and international counterparts,” added Schuitemake. “With significant infrastructure and transport projects, including the New Street station close to completion, and by strengthening our focus on our key sectors and growth markets, we are confident that we can remain as the country’s most popular investment choice.”
Site Selection’s top ten Western Europe investment cities are: 1, Barcelona, Spain; 2, Birmingham, UK; 3, Dublin, Ireland; 4, Madrid, Spain; 5, London, UK; 6, Vienna, Austria; 7, Erfurt, Germany; 8, Athens, Greece; 9, Limerick, Ireland, and 10, Antwerp, Belgium.
