The Business Exchange Swindon & Wiltshire Edition 56: August/September 2021 | Page 6

BUSINESS NEWS

Invest in Swindon & Wiltshire buck global trend in attracting Foreign Direct Investment

During the Covid lockdowns and economic turmoil of the last year or so , the team at Invest in Swindon & Wiltshire have been hard at work promoting our area on an international scale as being the place to live , work and grow a business .
Invest in Swindon & Wiltshire has recently attracted inward investment from world-leading blue-chip organisations , such as scientific instrumentation giant Thermo Fisher , multinational medical technology company Becton Dickinson and cutting-edge augmented and virtual reality specialists , Photonica .
This level of interest in Swindon and Wiltshire has bucked the global trend in Foreign Direct Investment ( FDI ) with
2020 / 21 seeing almost double ( 87 per cent ) the number of new internationally funded projects starting in the region , compared to the previous year , and a remarkable seven-fold increase in new jobs .
The success of the Invest in Swindon & Wiltshire team is even more significant when compared to the global and pan European investment figures . The global downturn during the pandemic saw a 30 per cent drop in FDI projects and a 40 per cent downturn in new jobs overall . Europe saw a 30 per cent drop in projects and the UK itself a 35 per cent drop .
The Business Exchange met project leaders Andrew Wells , Phil Clement and Russell Frith to find out more about their work ...
What do you think has been key to your success in the last year ? Andrew : The key to our success I feel is the collaborative work between Swindon Council , Wiltshire Council and Swindon and Wiltshire Local Enterprise Partnership . The approach of working with one another for the benefit of the wider area has really shown an increase in number . All the team have specific skill sets and strength that complement one another and offer better value to the companies we are speaking to .
Where are Thermo Fisher , Becton Dickinson and Photonica moving to ? How many jobs are each firm creating ? Phil : Thermo Fisher and Becton Dickinson are expanding their existing sites . Both companies work in life science and pharma - sectors that have shown real growth over the past 12 months due to a number of factors including Covid-19 .
Photonica has moved to Chippenham . The company has relocated its HQ from the US and we and the Department for International Trade have supported them . They are looking to create 100 jobs in the photonics sector , which is a huge win for the area .
Why do you think the region is bucking the global trend ? Russell : I think the UK has in general . We saw around the turn of the year that more clarity around Brexit began to increase confidence in businesses looking at the UK as a destination .
What have been the key factors that have swayed decisions ? Andrew : For me there have been three key reasons . 1 . We are affordable and have great connectivity . When these businesses create their algorithms for where to locate we come
out very strong as are area economically . There are good sites to set up your office or factory and whilst we are only just an hour away from London , we are a fraction of the price . 2 . Our labour market is very competent . We have a good skills workforce and a history of industry in the region . With the Honda Manufacturing disinvestment , we have a great number of skills workers coming to market , which has caught the eye of several companies . 3 . We have a responsive team in place . It ’ s something very simple but when we receive an enquiry or a referral , we have people in place to help and support . Not all areas of the country have this . Our relationships with key stakeholders and referral routes have developed over the past couple of years and they consider us a ‘ safe pair of hands ’.
What work has been happening behind the scenes to attract the interest ? Phil : We have run the Invest in Swindon and Wiltshire Campaign since Q4 2018 and the project has grown in its presence and engagement .
We previously attended various events around the world , had targeted lead generation campaigns on our priority sectors , provided a website for businesses to learn more about the area and also developed key relationships with countries we believed would be our best routes to find businesses looking at the region . The US for life sciences and South Korea for 5G / Telecommunications have been two positive links we have developed .
What other projects are in the pipeline ? Russell : The major project for this year will be the Amazon site in Swindon . We will also see Zurich establish their new HQ in
Swindon town centre . I fully expect more expansion of some of our life sciences companies in both Swindon and Wiltshire . We are also receiving more enquiries and interest from the creative industries with opportunities for content creation and film and media in the area , which is exciting .
How is the picture looking for wider Wiltshire ? Andrew : Wider Wiltshire is looking strong also . Wiltshire saw projects in food production land last financial year . Porton Down still remains a world leader in its field and attracts businesses from across the world . Swindon and Wiltshire Local Enterprise Partnership hope to launch their Business Cyber Centre later this year in Wiltshire and that will be a centre of excellence and increase the opportunities to attract businesses in that sector .
What is the vision for Swindon and Wiltshire in terms of inward investment in the next ten years ? Who are you hoping to attract ? Phil : For me it will be less about who and maybe more about what we attract . Swindon and Wiltshire is still the only LEP region without a university . We do not have a HPOZ ( High Potential Opportunity Zone ). My aim will be to bring either or both of those to the region over the next ten years . We have sites like Porton Down , the National Collections Centre and the old Honda Manufacturing site that could all lend themselves well to becoming key strategic sites nationally and attract those R & D and high skills jobs that add significant value to any region . If we start to become sector leaders and develop clusters , it will create a snowball effect for inward investment into the region .
What do we need to do to achieve our goals ? Russell : We need to continue what we are doing and maintain our presence . We need to punch above our weight and compete with the large cities when enquires come into the UK . We will not win them all but we need to be involved in the discussions in order to make companies aware of the fantastic opportunity that is Swindon and Wiltshire . It is also important we continue to support our existing businesses as fundamentally they play a huge role in attracting supply chain opportunities and collaboration to companies moving to the area .
How does Invest in Swindon and Wiltshire work with potential investors ? Phil : We offer a wide range of support for any potential investors . We can provide anything from sourcing a location to set up , routes to finance and signposting to business support , through to providing information on local schools for staff relocating to the UK , or information regarding good places to live in the area .
We account manage all our enquiries from initial enquiry until they settle in the region and if we don ’ t know the answers , we have a huge support network of local companies who can help . Many of the local solicitors , recruitment companies and colleges have been instrumental in supporting the companies we work with and it demonstrates to those companies the fantastic business ecosystem in Swindon and Wiltshire .
To find out more about Invest in Swindon & Wiltshire visit : www . investinswindonandwiltshire . org
6 www . tbeswindonandwilts . co . uk