Figures just published for the East Midlands by UK Trade & Investment, highlight that 4,123 jobs were created or safeguarded last year, as a result of 83 inward investment projects in the region. Of these jobs, 2,996 were a result of direct involvement and support from East Midlands Development Agency (emda).

Despite difficult economic conditions, emda supported 38 investment projects, 14 of which were from companies new to the region. In addition, the Agency helped a further 24 overseas businesses already established in the region, to retain or expand their investments.

The new and safeguarded jobs resulting from emda's inward investment work represents a 14% increase on the figure for the previous year. The companies that have invested in the East Midlands over the last twelve months cover a range of sectors including electronics, biosciences, food & drink and aerospace.

In securing the new investment successes, emda provided specialist advice to each prospective investor. This included arranging regional visits, supplying labour market or sector-based research and introducing companies to key intermediaries (e.g. banks, solicitors and accountants), to ensure each received professional support from experts who really understood their businesses. 

David Wallace, International & Innovation Director for emda, said: "This has been a very difficult year for attracting inward investment into the UK, as the world gradually recovers from the recession.

"However, despite the economic climate, we have helped 38 overseas businesses invest here in the East Midlands, which will create hundreds of new jobs over the next few years across the region.

"There has been a noticeable increase in enquiries from Asia-Pacific based businesses in particular and we are beginning to see significant investments in the region, from businesses such as Dynex and Canara bank. These businesses recognise the benefits of the East Midlands in terms of its central location, high quality workforce, competitive costs and internationally renowned universities.

"The most recent example of Asian investment is the Chinese car manufacturer, Changan, which is establishing its first UK Research and Development facility in Nottingham. This will create 200 new jobs in the region over the next three years."

One of the overseas businesses that emda supported to invest in the East Midlands last year was Chinese owned company, Dynex. The business designs and manufactures high power semiconductor products used worldwide in power electronic applications including the electric power grid, aerospace, electric vehicles, large industrial machinery and rail traction motor drives.

Of strategic importance to the local economy in Lincoln, the company is housed in a 9000 m2 purpose-built facility which contains their production, sales, design and development operations.

Dynex has a long-standing relationship with the Investor Development team at emda, which supported the company to find grants and funding that would allow it to expand and introduce new production areas. The emda team was also able to support Dynex in stating the business case for its expansion to its parent company. This has resulted in the creation of 30 new jobs over the next three years and an expansion of the company's facilities in Lincoln.

Dr Paul Taylor, President  & CEO of Dynex Semiconductor, said: "The recent expansion of production and R&D operations at Dynex is a key part of our ongoing growth strategy. Involving emda in our discussions helped to build a stronger case for investment in Lincoln by highlighting the benefits of the East Midlands region."

Chief Executive of UK Trade & Investment, Sir Andrew Cahn said: "Today's results are a real vote of confidence in the East Midlands, but we must work harder to continue to attract inward investment in what is a very competitive global marketplace.

"Overall, inward investment fell by 10 per cent across Europe, but the UK remains the number one destination in Europe for FDI. UK Trade & Investment is committed to attracting high quality investment into the East Midlands, which is so important for the UK's economic recovery."