Newcastle named as one of the UK’s top cities for inward investment

Newcastle has been named the UK’s 11th most attractive city for inward investment, in a report by design and consultancy firm Arcadis.

The results are according to the latest Arcadis report, “Investing in Britain: Cities Built for the Future”. The study ranks 24 of the UK’s key cities based on their performance across six key pillars deemed crucial for future inward investment and growth potential. These are: business environment; workforce and skills; infrastructure performance; housing; place; and city brand.

Newcastle was given an average score of 50.7%, placing it in 11^th place. Edinburgh (65.5%) topped the list ahead of Oxford (56.1%) and Cambridge (55.8%).

Catherine Walker, director of inward investment at Invest Newcastle, said: “This latest study by Arcadis demonstrates the strength of Newcastle as an inward investment location but also highlights areas, such as skill levels, in which we are continually looking to improve and further enhance our offering as a city. One way we seek to achieve this is to align with the strengths of our region’s universities so that new businesses to the area are able to tap into a skilled talent pool.

“We strive to take a different approach to inward investment attraction and retention, so it’s pleasing to be recognised in studies such as these. We are increasingly seeing our expertise in our priority sectors of business and professional services, digital and technology, life sciences and biotechnology, and offshore energy being recognised by businesses keen to locate to the area.”

Peter Hogg, UK cities director at Arcadis, said: “All cities have strengths and weaknesses, and no area is fundamentally ‘un-investable’.

“The important thing is to recognise which levers need to be pulled – whether that’s more affordable housing, more efficient transport or better digital connectivity – to ensure a city attracts the type of investment it needs. Every region needs to look at what it has, and how it can make the most of it.

“Most importantly though, the governance of a city needs to be structured in a way that makes investment easier and more welcome. From the agglomeration of industries and knowledge, facilitated by strong transport links, to identifying opportunities to create growth corridors, such as that proposed for Oxford and Cambridge, we need to see a more joined-up approach between regions.

“This will ensure that investment opportunities are focused on the right locations, helping to accelerate growth potential and ultimately realise new sources of competitive advantage.”

Visit www.arcadis.com/InvestinginBritain to download a full copy of the report.