Around 600 new jobs were either created or safeguarded in the county over the past 12 months, thanks to Foreign Direct Investment with Oxfordshire’s life sciences, healthcare and space sectors behind much of the success
The Oxfordshire Local Enterprise Partnership (OxLEP) has today announced 43 foreign direct investment ‘projects’ were secured during the last 12 months, leading to over 600 new jobs being created or safeguarded in the county – the news follows recent investment figures announced by the Department for International Trade.
OxLEP’s announcement means that the county has again scored above its annual ‘baseline’ figure for foreign direct investment, measured annually over the past eight financial years.
The average number of annual foreign direct investment projects secured since 2013 is 33 – this year’s total of 43 sits 30% above this average figure.
A strong proportion of Oxfordshire’s foreign investment during the 2019/20 financial year was triggered by the county’s strengths in the sectors of life sciences, healthcare and space technologies, with each sector collectively helping to secure most investment over the past 12 months.
Despite uncertainties brought about by the UK’s exit from the European Union and – more latterly – the early stages of the COVID-19 pandemic, the county still secured more foreign direct projects than in 2018/19.
During the previous financial year, Oxfordshire secured 39 investments from investors based outside of the UK.
In addition – according to the DIT’s statistics – across the whole of the South East of England during 2019/20, a total of 211 foreign direct investment ‘projects’ were secured, meaning Oxfordshire was responsible for over 20 per cent of all such investment into the region.
Nigel Tipple – Chief Executive of OxLEP – says the positive figures underline Oxfordshire’s continued global economic strength, backed by key assets such as Harwell Campus, Culham Science Centre, the University of Oxford and a high-performing small business community.
Nigel said: “There cannot be any doubt that Oxfordshire continues to offer one of the most-attractive investment propositions anywhere on the planet, thanks to the world-class assets and globally-significant sector strengths we possess within the county.
“Such foreign investment not only brings benefit to our business community and supply chains, but – by attracting some of the world’s best businesses to Oxfordshire – it also benefits our local communities too, creating new jobs for residents and inspiring young people in the process, who see such high-calibre businesses making our county their UK home.
“These foreign direct investment results demonstrate that our economy continues to be earmarked by international investors, who see the ongoing potential offered by the Oxfordshire economy.”
OxLEP has helped to secure over £650m of investment for the Oxfordshire economy since its launch in 2011. Currently – it oversees a growth programme worth £2.2bn.
For more information on local and national figures, go to the DIT website.
Pictured above: Oxford Science Park, which continues to attract businesses to the county
