Prime Minister David Cameron has announced more than £240m of new investment across the UK and 1,800 new and safeguarded jobs at the UK. UK Investment Summit 2014 in Newport, Wales. 
UK and Welsh governments have also joined forces with leading aircraft manufacturer Airbus to announce a joint investment of more than £100m into research, development and training which will ensure the UK continues to lead the world in aerospace.
Around £64m of the £100m plus investment will support research and development through the Aerospace Technology Institute on a range of projects aimed at streamlining manufacturing processes and developing new technologies.
A total of £48m is being invested in a project at the Broughton plant in North Wales which will develop new systems and technologies for building aircraft wings.
The announcements follow a record year for investment in the UK during 2013 to 2014 with latest UK Trade and Investment figures showing more than 66,000 new jobs created or safeguarded – the highest since 2001 – and 10,000 in Wales alone.
The news comes as work begins on the first phase of a £250m expansion at Dyson’s hi-tech facility at the Malmesbury site which will create up to 3,000 jobs.
Hosted by UK and Welsh governments, the UK Investment Summit is taking place today at Newport’s Celtic Manor. It aims to build on the legacy of the NATO Summit that was held at the same venue in September, and confirms the government’s pledge to boost the UK economy by encouraging companies to invest in the UK.
More than 150 business leaders from international companies are gathering at Celtic Manor to celebrate Britain’s overseas investment performance, forge new links, develop new ideas and explore new opportunities.
Wales is developing as a leading force in innovation, cyber security and research and development, attracting global brands. Toyota manufactures its hybrid engines and Airbus manufactures the wings of every A380 aircraft in Wales. It has been a record year for Welsh foreign direct investment for 2013 to 2014 with 79 foreign direct investment projects. All this has helped make the Welsh economy worth £47bn according to latest figures (2012).
Deals announced include:
- Two leading international suppliers of offshore wind foundations, EEW SPC of Germany and Bladt Industries of Denmark, have announced an investment of up to £30m for the acquisition and upgrade of the former TAG Energy facility in Teesside. The facility, which will become a key part of the European manufacturing base for the firms, is envisioned to generate up to 350 direct jobs in the local area, as well as a significant additional number of jobs in the local supply chain
- German manufacturer Kärcher will build its new UK HQ, Academy and Customer Experience Centre at Banbury Point. The overall investment value is £19m over 3 years, creating more than 50 new jobs as well as improved facilities for UK staff and customers.
- automotive components manufacturer, Gestamp, has invested a further £13m at its Fareham facility, helping to create 112 jobs by 2015.
- Belgian-owned Pinguin Foods which produces a range of frozen vegetables, fruits and convenience food, has committed a £20m investment into the UK after purchasing both sites it previously leased in King’s Lynn, Norfolk and Boston, Lincolnshire. This has anchored the company in the UK and safeguarded 198 jobs in King’s Lynn and 51 jobs in Boston, securing a total of 249 jobs.
- South African insurance company, MMI Holdings, are expanding their Bristol base, opening a new 120 person facility after acquiring UK Bristol-based fintech company, Blue Speck Financial Ltd. Around 100 new jobs will be created over the next 3 years with the opening of the new technology offices.
- Cummins, a leading manufacturer of diesel engines and related components, has announced a further £10.4m investment into its production and development facility in Darlington, County Durham, creating 66 new jobs and safeguarding 725. £1.04m of the investment came from an RGF grant awarded by BIS.
- AIC Steel, the UK / Newport based arm of international structural steel firm AIC Steel Group has announced plans to create 40 additional jobs by December 2014.
Prime Minister David Cameron said:
Two months ago I hosted world leaders in Newport for the NATO Summit where we left united in purpose, with a stronger alliance, and better able to keep our people safe. Today’s investment summit, which will see more than 150 business leaders from international companies gather in Newport, is part of our plan to build on this legacy, attract trade and investment, and secure a brighter future for all of Britain. This investment is a vote of confidence in our long-term economic plan and the jobs it will create and safeguard in Wales and across the UK means financial security for more hardworking families.”
Trade and Investment Minister Lord Livingston said:
“This summit provides a great platform to highlight opportunities across the UK. Inward investment to the UK is already at record levels with Wales in particular achieving strong growth. Investment is flowing from companies around the world into manufacturing, services and infrastructure reflecting the UK’s position as one of the best places to do business in the world.”
