Annual Inward Investment figures show 38% increase

The LSEP funded agency Invest Leicestershire has announced significant increases in the levels of investment performance in Leicester and Leicestershire for the year ending 31 March 2006. During the financial year 2005/06, Invest Leicestershire achieved an increase of over 38 per cent on the previous year for new jobs created in the city and county (up to 367 from 266 in previous year).

Invest Leicestershire also helped to safeguard 371 jobs in 2005/06, rising seven per cent from 344 last year. The job numbers are based on actual jobs safeguarded and created in the last financial year, rather than three year projections. These strong figures were also supported by a growth in the number of UK-based and overseas companies already based in the area, assisted by Invest Leicestershire. 32 companies were helped in their expansion or relocation compared to 11 assisted last year. The year also proved successful in the number of foreign owned companies expanding or relocating within the city and county as 10 foreign owned companies successfully relocated, expanded or safeguarded jobs with the help of Invest Leicestershire.

Invest Leicestershire is part of Leicester Shire Promotions and is responsible for helping businesses relocate to, or expand within Leicester and Leicestershire. Invest Leicestershire worked in partnership with the East Midlands Development Agency (emda) on a number of the successful projects. emda recently announced its figures for foreign direct investment into the region which also highlighted an increase in the number of jobs and safeguarded in the region from the previous year.

The most significant increase of activity was the increase in enquiries as over 1,200 were taken in 2005/2006 compared to 500 enquiries taken in the last financial year. The increase in enquiries has partly been due to the launch of the Leicestershire Property Directory in June 2005, the online commercial property database on the Invest Leicestershire website, which saw over 600 people register by the end of March.

In the financial year 2005/06, Invest Leicestershire successfully supported 32 businesses in their relocation or expansion plans in the city and county. These businesses included:
• AKA Marketing – an international marketing company opening its first East Midlands office
• Bott Limited – a leading German-owned vehicle racking and storage manufacturer
• State Bank of India – one of the leading Indian Banks opening its first UK branch in Leicester

William Presland, Operations Manager at Invest Leicestershire, said: “Now that we have the Invest Leicestershire team at full strength, it is encouraging to see that there has been an increase in our figures again this year. With the projects we have in the pipeline we hope that there will be some significant investments made in Leicester and Leicestershire in the next financial year.”

Kishor Tailor, Chief Executive of LSEP added: “We are encouraged by the success that Invest Leicestershire has achieved and the number of enquiries indicates the programme will be even more effective in the future. Many partners are committed to supporting Invest Leicestershire’s marketing of Leicester Shire as an attractive place to do business and it’s very pleasing to learn that this effort is now resulting in success for the sub-region.”