Oxfordshire’s ‘global economic strengths’ continues to draw top international investment, despite pandemic challenges
OxLEP have today (29 July) highlighted new Department for International Trade (DIT) figures that has shown the county maintained a strong position attracting worldwide business investment, as the economy continues to emerge from Covid-19.
Over the past year, a total of 38 international business ventures – otherwise known as foreign direct investment (FDI) projects – invested hundreds of millions of pounds into the Oxfordshire economy, with significant investments into key sectors including life sciences and space during the 2021/2022 financial year, according to the DIT’s update.
OxLEP – who lead on the county’s international investment efforts, working alongside DIT – also saw investment through large acquisitions and large-scale capital investments for key innovation and enterprise locations such as Oxford Science Park (pictured above) and Oxford Business Park.
The significant level of investment into Oxfordshire has also had a positive impact on job levels in the county, with data indicating over 450 jobs were supported across the county through Oxfordshire FDI investments.
These positive figures follow Oxfordshire’s top-five ranking in the FT’s fDi Intelligence overall rankings for 2022 and as the highest ranking Local Enterprise Partnership for FDI strategy.
Sebastian Johnson – Head of Innovation and Inward Investment at OxLEP – said: “These are very positive figures for Oxfordshire and we are delighted to learn that the county continues to build on our strong reputation of being well-positioned to attract significant international investment through our many world-leading sectors and businesses.”
“We are a county that embraces business, encourages sustainable growth and looks to create an economic climate that backs investment and in-turn, job creation – these are key ingredients for both our local and UK economies as we continue to emerge from the pandemic and the global economic challenges currently being faced.
“By continuing to highlight to an international audience the major strengths of the Oxfordshire economy, OxLEP is well-positioned to support an ambition to build on these positive trends, ensuring we are able to garner the interest of the international business community.”
Lucy Buzzoni – Director of Investment at the Department for International Trade added: “OxLEP’s consistent approach to attracting foreign direct investment sets a fantastic example, that supports job creation and economic growth that will level-up the whole of the UK.
“The 2021/22 set of inward investment results are an outstanding effort, not just the results, but evidence of the strong partnerships forged, and bridges built along the way.
“This approach has been reflected in consistently good FDI wins over many years now. I am confident OxLEP will continue to build on its recent success attracting even more attention for the UK from across the globe”
The international investment figures for Oxfordshire over the 12 months of 2021/22 represents a positive response to the challenges posed by the pandemic.
OxLEP continues to work with Oxfordshire’s business community and its key sectors to highlight investment opportunities to wider national and international audiences.
Its current internationalisation plan, through to 2025, sets out a strategy to drive investment into Oxfordshire and forms a key role in supporting the continued recovery of the county’s economy following the pandemic.
Review OxLEP’s internationalisation plan up to 2025
Visit the Department for International Trade foreign direct investment report for 2021/2022
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