Hereford investment site announced by International Trade Secretary
A £105m investment location in Herefordshire has been included in a new drive to attract foreign investment into the UK.
International Trade Secretary Dr Liam Fox has announced a "bold and ambitious" programme of 68 investment projects worth more than £30 billion to overseas investors, including two sites at Skylon Park, Hereford Enterprise Zone.
Dr Fox, speaking at a meeting of the Board of Trade in Stirling, said: "This is a bold and ambitious programme, building on the UK’s position as the leading destination for foreign investment in Europe through the government’s modern Industrial Strategy, helping to build a Britain fit for the future.
"The High Potential Opportunities scheme will deliver growth where it is most needed, ensuring that the benefits of global investment are felt in every part of the country.
"And with more than £30 billion worth of new opportunities, my international economic department’s overseas network is working hard to attract top investors to the UK.
Among the nationwide locations is the £105m Skylon North Magazine and Skylon South sites at Skylon Park. They are the premier development locations on the Enterprise Zone, conducive to larger scale commercial development opportunities for investors, with particular interest in defence, security and advanced manufacturing.
The locations were also part of the Department for International Trade's Midlands Engine Pitchbook which was revealed to potential investors at global expo MIPIM in Cannes earlier this year.
DIT works directly with companies in 177 cities in 108 countries around the world. Last year, DIT helped attract 2,265 investment projects which created or safeguarded 108,000 jobs in the UK.
The 68 projects worth more than £30 billion, with more to be added over the coming months, will also be promoted through a revamped online one stop shop for potential investors: invest.great.gov.uk.
Enterprise Zone Chair Andrew Manning Cox added: “We’re delighted that the Skylon Park locations are being showcased to potential investors in this global programme.
“The North Magazine comprises 10 hectares and by early 2020 will be home to a £7m Business Incubation Centre including development space for businesses to interact with a new University being created in Hereford, specialising in engineering.
Artist's impression of developed North Magazine site
“Skylon South comprises 4 hectares as a next phase development with immediate access onto the dedicated access road linking to the trunk road network. It will be adjoining a new £9m Centre dedicated to Cyber Security business and research, sponsored by the University of Wolverhampton and due to be opened in 2020.”
Responding to the programme announcement, Carolyn Fairbairn, CBI Director-General, said:
"The UK has a strong standing when it comes to attracting investment to these shores. That investment leads to real, tangible benefits for people and communities – more jobs, prosperity and choice.
The International Trade Department’s drive to attract billions of pounds worth of investment to projects in each corner of the country is warmly welcomed by firms.
"The new online catalogue of British projects for global investors to find and research will also be a vital tool to attracting even more capital to the UK, enabling the benefits of free trade and investment to flow into our communities."