Mayor Richard Parker has welcomed a significant rise in employment opportunities across the West Midlands, as new figures reveal the region has become the leading UK destination outside London for foreign direct investment (FDI). The data, released by the Department for Business and Trade, shows that the West Midlands secured 130 overseas investment projects during the 2024/25 financial year. This figure represents nearly 10% of all FDI activity across the UK, more than the combined total seen in Northern Ireland and Wales.
The influx of foreign investment has resulted in the creation of 5,821 new jobs in the region, surpassing the job numbers recorded in both the South East and South West combined. Mayor Parker highlighted these results as a strong signal that the West Midlands is succeeding in its mission to generate high-quality employment and economic growth for local communities. He noted that these outcomes will set a positive tone for the upcoming investment summit, where the region will showcase its strengths to global investors.
Parker also credited the success to the momentum of his Regional Growth Plan and the alignment with the government’s broader Industrial Strategy. He emphasized that this progress reinforces the West Midlands as one of the best places in the country for businesses to invest and grow.
Recent investment wins include the decision by Australian retail giant Harvey Norman to base its UK headquarters and open a new store in Sutton Coldfield. A Canadian cybersecurity firm has also chosen the region for expansion, while the tech company Goldilock is extending its manufacturing and testing facilities at the University of Wolverhampton Science Park.
The West Midlands Global Growth Programme, which offers tailored support to international high-growth businesses, also contributed to these successes. Over the past year, 17 firms supported through the programme have generated more than 300 new jobs.
Neil Rami, Chief Executive of the West Midlands Growth Company, praised the region’s ability to attract investment despite global economic challenges and a UK-wide decline in FDI, down 12% compared to the previous year. He noted that while the West Midlands continues to outperform most other areas, the UK as a whole needs to address structural barriers, improve skills development, and invest in innovation and clean growth to reclaim its position as a top investment destination. He also stressed that the country’s overall share of European FDI has dropped to just 15%, highlighting the urgency for national-level reform.
This positive regional performance follows recognition under the government’s Modern Industrial Strategy, which identified the West Midlands as a key area for growth in sectors such as advanced manufacturing, life sciences, clean energy, digital technology, financial services, and professional business services.
