July 31, 2014 10.20 am This story is over 116 months old

Foreign investors create 1,800 jobs in Greater Lincolnshire

Foreign investors: More than 1,800 new jobs have been created in Greater Lincolnshire in the past year by 14 overseas businesses, according to new figures from the LEP.
Research and Development centre and offices for Dynex Semiconductor in Lincoln, completed in 2012.

Some 1,854 new jobs have been created in Greater Lincolnshire in the past year by 14 overseas businesses, according to new figures from the LEP.

Investment has been secured from all over the globe, including Brazil, China, the United States, Norway and Japan, and covers sectors such as electronics, pharmaceuticals, agriculture and renewable energy.

Twelve of the 14 investments have been brokered by the Greater Lincolnshire Local Enterprise Partnership (LEP) working with the local councils and UK Trade & Investment (UKTI), the government organisation that helps UK companies succeed in international markets.

Nine of the 14 investments (64%) were expansions, three (21%) were new investments and two (14%) were mergers and acquisitions or joint ventures.

The most significant region from which investment came was Europe, the Middle East and Africa (EMEA), which accounted for 64% of the investments. The Americas made up 21% while Asia Pacific accounted for 14%.

The number of investments has increased by 43% on 2012-13 (14 compared to eight) and the number of jobs created has leaped by almost 500% (1,854 compared to 161).

“This level of new inward investment from overseas is a fantastic achievement for the Greater Lincolnshire LEP and shows that we are moving in the right direction in terms of foreign investment and business growth,” said Ursula Lidbetter, Chair of the Greater Lincolnshire LEP.

Greater Lincolnshire LEP performed particularly strongly in the energy, environment and infrastructure category, which made up almost half (43%) of investments.