Lincolnshire

Foreign investors bring £170m to Greater Lincolnshire

New figures have revealed that Greater Lincolnshire attracted over £170 million in foreign business investment last year – a 20% increase on the previous year.

The private sector money was used to fund 18 projects, which helped create 447 new jobs and safeguarded a further 100 posts.

The sectors to benefit most were food and drink, renewable energy and advanced manufacturing, all of which are a priority for the Greater Lincolnshire LEP.

The investment came into the county from the USA, Europe, Singapore, Japan and China.

Councillor Colin Davie, Executive Member for Economic Development at Lincolnshire County Council, said: “Lincolnshire has become an investment hot spot, offering a wide range of opportunities to both developers and investors. These figures underline that global businesses recognise our potential.

“Significant infrastructure schemes are bringing new opportunities, and we have a wide range of employment land, hotel sites, three specialist food enterprise zones and housing land identified for development.

Councillor Colin Davie, Executive Member for Economic Development at Lincolnshire County Council. Photo: Steve Smailes for Lincolnshire Business

“Quite simply, we are a place to grow, and I expect we will become even more attractive to investors over the coming years.”

Pat Doody, Board Director at the Greater Lincolnshire LEP, added: “We’re pleased with these latest figures for Greater Lincolnshire, which goes to show that our support for international business is starting to pay off, through our collective investment in partnerships, Team Lincolnshire and investment programmes.

“The UK attracted more foreign direct investment projects than ever before this year, and, overall, the UK is still the number one destination for inward investment in Europe, with the technology, renewable energy, life sciences and creative industries all seeing an increase in the number of projects.

“In Greater Lincolnshire we are already seeing some exciting and interesting investments for next year and look forward to supporting the businesses around our patch to maximise their successes.”