Inward investment boost for local jobs

EAST of England International, the region's government-funed international business support agency, has achieved its most successful year to date, according to new figures.

EAST of England International, the region's government-funed international business support agency, has achieved its most successful year to date, according to new figures.

A total of 53 inward investment projects involving overseas companies were completed in the region during 2005-06 while 365 local businesses exported products or services for the first time and 537 existing exporters accessed new overseas markets.

The figures also indicate that EEI's invward investment activities created or secured 2,282 jobs and foreigh-owned facilities within the region, with a combined salary benefit to the economy of more than £59million.

New or retained investments in Suffolk included: Nestor Pharmaceuticals (from India) in Mildenhall where 80 new jobs were created; Securify Inc (United States), Nidera UK (Netherlands) and St John Freight Systems Ltd (India), all in Ipswich; and Lenz Wine (New Zealand) and Precise Biometrics (Sweden) in Bury St Edmunds.


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Inward investment successes in Essex included Medsorg GmbH (Netherlands) in Harlow; CG Smith Software (India) in Brentwood; Inion Ltd (Finland) in Takeley; TFE International Ltd (France) in Chelmsford; and ExecuTRACK Software Ltd (Germany) in Stansted.

James Gray, chief executive of EEI, said: “We are delighted with these results which again demonstrate how attractive the East of England is to overseas investors. Our successes are spread across the region and include a number of very significant strategic investments which will attract attention from other investors.

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“Looking to 2006-07 we now have the region's international trade teams working as part of EEI. They too have had a very successful year last year and working together we believe the trade and inward investment teams will deliver even more value to the region.”

Companies helped by the EEI trade team in export markets included: Factair Ltd and Solvair Ltd, both in Ipswich; Coating Systems Ltd, Bury St Edmunds; Adphonic, Tollesbury; and Light Engine Lighting Ltd and Medical Device Management Ltd, both of Braintree.

David Marlow, chief executive of the East of England Development Agency, which funds EEI together with central government and business partners, said: “Linking up international trade support with inward investment in the region is extremely important, and these results show that the East of England is continuing to improve in this area.”

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