The West Midlands is the top region for foreign direct investment outside of London, government data has shown.
Throughout 2022-2023, a total of 181 projects received overseas capital in the West Midlands out of 1,654 across the whole UK.
In the same period, 8,252 jobs were generated as a result of foreign direct investment despite an overall reduction of the rest of the UK.
The data, published by the Department for Business and Trade, shows that the West Midlands attracted more foreign direct investment (FDI) than Scotland and Wales combined.
The West Midlands tech sector, valued at £15bn, plays a key role in the region’s economy. It is forecasted to add £2.7bn value to the UK economy by 2025 and has attracted overseas tech firms such as Tata Technologies, an Indian multinational product engineering firm....