Swindon and Wiltshire bucks global and UK inward investment trend

Swindon and Wiltshire has bucked the trend for foreign inward investment with almost double (87 percent) the number of new internationally funded projects starting in the region compared to the previous year, and a seven-fold increase in new jobs.

Meanwhile, there is a strong inward investment pipeline for 2021-22.

The interim figures for 2020-2021, published today by the Invest in Swindon and Wiltshire Campaign, contrast starkly with the global, European, and national figures.

The global downturn during the pandemic saw a 30 percent drop in Foreign Direct Investment projects, and a 40 percent downturn in new jobs overall.

Europe saw a 30 percent drop in projects and the UK itself a 35 percent drop.

Investment has come with new names including visual display tech firm Photonica, now based in Chippenham, and biotech firm Thermo Fisher and medical technology company Becton Dickinson, which now both operate from Dorcan, Swindon, as well as the expansion of operations of existing names like insurance giant Zurich.

New investments have covered manufacturing, retail, services and research & development and include key regional strengths in sectors like Life Sciences, Digital Technology, Pharmaceutical and Automotive.

Invest in Swindon and Wiltshire in a joint initiative between the Inward Investment teams at Swindon Borough Council, Wiltshire Council and the Swindon and Wiltshire LEP.

It has been working with the government’s Department for International Trade to attract foreign businesses to the region.

Swindon Council leader David Renard said: “Investors continue to see Swindon as an economic powerhouse and a great place to do business. We continue to provide the environment, opportunities, skilled workforce and great lifestyle which enables businesses and their workforce to thrive.

“Even through the pandemic, investment by national and international companies demonstrates that Swindon is a player on the global stage.”

Richard Clewer, leader of Wiltshire Council, said: “We know Wiltshire is a great place to live and carry out business and this latest announcement shows just how attractive the area is to foreign companies.

“The importance of Foreign Direct Investment cannot be underestimated as it creates new jobs and more opportunities for growth as foreign companies transfer funding, knowledge, skills and technology to the county, providing a vital boost to the local economy. We welcome discussions with any foreign as well as domestic companies looking to invest in the county.”