Yorkshire projects lined up for £30bn investment boost
Thu 17 May 2018
A "bold and ambitious" initiative designed to attract more than £30bn worth of overseas investment to the UK – which could benefit a number of projects across Yorkshire – is set to launch.
The Department for International Trade (DIT) is promoting an initial 68 scheme across the country, with more likely to be added in the coming months.
Axiom Regional Shopping Centre, Wakefield, £400m
The High Potential Opportunities scheme, which was piloted in Doncaster's rail industry, Telford's agri-tech sector and Greater Manchester's Graphene-based lightweight materials sector, is also set to be extended.
International trade secretary Dr Liam Fox 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 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 £30bn worth of new opportunities, my international economic department's overseas network is working hard to attract top investors to the UK."
Carolyn Fairbairn, CBI director-general, added: "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."