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Foreign investment key to North jobs creation

Filed under: Information Risk and Security — Mark on March 27, 2013

There could be over 120,000 jobs created in 10 years if the level of foreign direct investment in the North reached the levels that it achieved before the Regional Development Agencies were abolished, says a report. If the investment does return to such levels, it will be good news for anyone in the North looking for information security jobs or any other positions in the region.

The report, ‘UK First? Improving Northern Access to Foreign Direct Investment’, demonstrates that when securing FDI, there has been positive economic development for the North. Firms such as Siemens and Nissan lead the way. The investment has supported growth of major companies as well as helped in creating and protecting jobs.

However, although the largest portion of European investment still goes to the UK, Germany is closing in.

Ed Cox, director of IPPR North, said:

“It is very worrying to see that a key element of the North’s economic success in recent decades has been declining in the past three years. If it continues, this can only make the imbalance in the UK economy even worse than it is already. It is clear that the Coalition’s current approach to attracting inward investment in the North is not working. But our report shows there are steps that can be taken to improve it.”

He went on to say that it is important for action to occur in enabling the UK to keep its position as the top country in Europe for European investment, as well as being a contributor to that end.

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