Derby’s strategy for attracting foreign direct investment (FDI) is the best in the UK, says a new report.
In the category of small cities in the UK, Derby topped the table, and scored second in the whole of Europe, according to fDi Magazine’s European Cities and Regions of the Future report.
The rankings, which are run by fDi Magazine, a division of the Financial Times, are one of the industry’s most prominent benchmarks of FDI competitiveness.
Home to giant international corporations such as Rolls-Royce, Bombardier and Toyota Motor Manufacturing UK, the city’s strategy is heavily influenced by its global facing economy.
John Forkin, Managing Director of Marketing Derby commented :
Over the past couple of years we have been stepping up our inward investment campaigns working closely with partners such as Derby City Council and Derbyshire County Council engaging with countries such as China and India in addition to building on existing investments from Japan and North America.
We are determined to play a key role in contributing to Midlands Engine activities together with the Department for International Trade.
An international awards ceremony will take place at property conference MIPIM (Cannes, Frances) on Tuesday 13th March which Derby will be attending as part of the Midlands UK delegation.
Speaking about the rankings, Martin Rawson, Deputy Leader of Derby City Council said:
This recognition is wonderful and showcases Derby as a truly global business city with industry giants, including Rolls-Royce, Bombardier and Toyota, and their extensive supply chains, based here.
With a highly skilled workforce, investment in infrastructure and public-private partnerships, which support new businesses and investors into the city, Derby is an attractive proposition for foreign direct investment.
In January, the Council began a consultation on The Four Pillars: Derby’s Economic Growth Strategy.
This is a document for the city, shared by our major partners and intended for all those who have a stake in the economic fortunes of Derby.
Structured into local, regional, national and international strands, it builds on Derby’s heritage and reputation as a centre for manufacturing – with the council taking a strategic role in developing skills, improving productivity and fostering innovation to shape our local economy.