Foreign investment creates over 1700 jobs

Foreign investment creates over 1700 jobs

The Cambridgeshire and Peterborough region has seen an increased number of jobs created during 2023/24 compared to previous year due to overseas companies investing in the region a latest government report shows.

The Government’s Department for Business and Trade (DBT) has recently published data on foreign direct investment (FDI) into the UK for the financial year 2023-24. Results show that 26 investment projects, supported by the Cambridgeshire and Peterborough Combined Authority (CPCA) in 2023/24, have collectively created around 1,700 new jobs.

The Combined Authority Inward Investment Team supports businesses looking to invest and locate within the region. Working directly with key partners the Combined Authority helps new businesses looking to invest with support in sourcing suitable premises, enabling talent acquisition, advising on accessible supply chains, and advising on potential funding opportunities.

Last year the region welcomed Cogniss, an Australian digital health tech company, who opened its global headquarters in Cambridgeshire supported by the Combined Authority’s dedicated inward investment team.  The company plans to create 45 new skilled, high-value jobs over the coming years.

Dr Nik Johnson, Mayor of Cambridgeshire and Peterborough, said: ‘It is great news that foreign investment is flowing into Cambridgeshire and Peterborough, helping to secure new jobs and create sustainable businesses and supply chain opportunities. Our region is a fantastic place to live, work and invest in – competing globally for the most innovative businesses and some of the most talented people.’

Al Kingsley, Chair of the Business Board commented: ‘Cambridgeshire and Peterborough’s innovative economy remains an investment destination of choice for some of the world’s biggest, fastest growing, and most ambitious businesses. It is wonderful to see our collaborative and focused hard work is resulting in new job opportunities and increased investment across the region.’