Figures Show Birmingham Bucks UK Trend With Record Level of Foreign Investment

Legal Expert Comments As New Figures Paint Positive Picture For City

09.05.2013

By Rob Dixon

New data which has revealed that foreign investment into Birmingham has increased massively in the past year is a sign of the significant effort made to position the city as a hub for international business, according to a legal expert.

Figures from the Marketing Birmingham Regional Observatory revealed that the city had seen a 52 per cent increase in foreign direct investment across 2012/13 with 41 new projects being secured.

Much of the improvement has been attributed to Business Birmingham, which launched in April 2011 and has helped to double the number of foreign investment projects in the area.

Chris Rawstron, head of Irwin Mitchell’s Birmingham-based Business Legal Services team, said the new statistics are a strong sign that such work is paying off.

He said: “These figures reflect the huge effort which has gone into growing Birmingham’s profile and potential as an international business city over the last few years – effort which is now beginning to translate into new investments and job creation in our local economy. These investments are hopefully a sign of further investment and jobs to come.

“In real terms the 2012/2013 FDI projects created 2,271 jobs and safeguarded more than 4,000 more. According to Marketing Birmingham they are estimated to have boosted the city’s economy by £174 million.

“Reports have also shown that a range of sectors including engineering, digital media and life sciences have benefitted and it will be interesting to see how these trends develop further over the coming months.”

Read more about Irwin Mitchell's expertise in relation to Business Legal Services