Telford continues to be perfect location for foreign direct investment
Telford is once again proving to be a prime location for overseas investors – backed up by the latest Foreign Direct Investment (FDI) results.
Figures for 2022-2023 show that Telford won a 71% majority of successes in the Marches area.
These investments, which total £37m, have helped to create and safeguard 431 jobs with global businesses from sectors Telford is renowned for including advanced engineering and food and drink.
Multiple projects from the USA top the list of countries choosing Telford as the place to do business from.
Telford & Wrekin Council’s Invest Telford team remains steadfast in its commitment to supporting businesses and nurturing collaborations that drive economic growth and promote sustainable development across the borough.
Working closely with the Department for Business & Trade (DBT) and particularly with the Key Account Management (KAM) programme has resulted in 50% of the new investment into the Marches.
Research continues to show overseas investors are looking at sites outside of London and the South East and Telford is seen as a prime location in the Midlands region with excellent transport links.
Telford now has over 120 foreign-owned businesses from 25 countries across a range of industries.
Telford and Wrekin is also in pole position to attract new foreign investment through the council’s link-up with Harper Adams University and the Department for Business & Trade and Ni.PARK in Newport which is attracting global agri-tech businesses.
TAFE, ranked as the third-largest tractor manufacturer globally and the second largest in India, has selected Telford as the home for its new Research & Development Centre, TAFE Advanced AG Solutions.
Mallika Srinivasan, Chairman & Managing Director of TAFE, said: "We established the Research & Development Centre in Telford with exceptional support from Invest Telford, Harper Adams University, and the Agri-EPI Centre.
“Our collaboration with Harper Adams University has been key to driving sustainable farming practices, and we look forward to continue working closely with them."
Delivery giant UPS has invested £2.5m in its small package network by creating a new facility at Hadley Park which opened in April – bringing more than two dozen jobs to the area.
Rick Fletcher, managing director, UPS UK, Ireland & Nordics said: "Our new location in Telford represents more than an investment in UPS and our capabilities – it's an investment in our customers and in the resilience of our business.
"We're pleased to be a trusted name for small and medium-sized businesses in the area and this is the latest step in adapting our network to best serve their needs."
Innovative New Zealand dairy product company MilktechNZ Ltd has also tapped into the global agri market and continues to grow after opening a new UK base at the AgriEPI Centre in Newport.
Brent Crothers, Sales Manager for MilkTechNZ, said: “Working from the Agri-Epi Centre means that we are working alongside like-minded businesses all with the goal of improving farm performance and productivity.”
Councillor Lee Carter (Lab), Telford & Wrekin Council’s cabinet member for place (the economy & neighbourhood services) said: “It has been another excellent year for Telford with FDI investment for single-sites landing well above the average.
“Our ability to attract new investment from overseas in what remains a tough economic climate shows how highly regarded our borough is.
“Telford is very much a place built on innovation and is a vibrant mix of local start-up businesses working alongside major international businesses that have chosen to locate and grow here.
“Our central location, ready-to-go and affordable land and great business support offer have been cited by investors and are the main reasons for our continuing success and we are delighted that Telford continues to go from strength-to-strength.”
The Invest Telford business team offer businesses fast, responsive and bespoke solutions to help organisations to achieve their business goals – from new start-ups and relocations to expansions and growth plans.
To find out more about why Telford is a prime location for investors and the support that’s available for businesses, visit the Invest Telford website.
Photo: Mallika Srinivasan, Chair & Managing Director of TAFE, with Telford Mayor Cllr Arnold England
