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Thames Valley Chamber of CommerceInward Investment Results 2016/17
Thames Valley Inward Investment Results 2016/17
The Thames Valley’s Inward Investment Report announces another successful year Once again, we are delighted to be able to report on another highly successful year for securing Foreign Direct Investment (FDI) into the Thames Valley, and working closely with the Department for International Trade - Investment Services Team and the Local Enterprise Partnerships.
The home of the UK’s ‘turbo-economy’, the Thames Valley continues to be a phenomenal success story. Viewed as one of the most economically vibrant and well connected communities in the UK, it is set to have one of the fastest growing economies during 2017-191; Reading is set to be the UK’s fastest growing city over the next three years2 and outside London, the top two cities with the highest levels of productivity by GVA per worker, are Slough (2nd) and Reading (3rd). Oxford achieved 7th place3.
In 2016/17 we recorded one of the highest numbers of FDI projects since recent records began and this year’s results reaffirms our position as one of the most consistently high performing and successful regions for attracting FDI in the United Kingdom.
70% of international companies setting up in the UK for the first time are locating within one hour of London Heathrow, showcasing the importance of the Thames Valley and the leading role it plays in the UK. We are actively speaking to Government to continually encourage investing and supporting the region. We are keen to achieve the economic performance targets ‘UK plc’ is seeking and our success is intrinsically linked with securing delivery of key infrastructure projects.
The timely delivery of a 3rd runway at London Heathrow with 16 new domestic routes, will bring greater connectivity to international cities and over £200bn in economic benefits across the UK. Western Rail Link to London Heathrow, which is estimated to deliver £800m in economic activity, 42,000 jobs and up to a 70% reduction in journey times for the Thames Valley region, will bring 20% of the UK population within one interchange of London Heathrow.
The region continues to provide the property and site options that attract and retain investors. We can now offer two Enterprise Zones (EZs) in Buckinghamshire (centred on Aylesbury) and Oxfordshire (Didcot) as locations offering targeted incentives to companies looking to invest in the EZs.
And finally, we can celebrate the fact that Oxford University achieved the top spot in the University world ranking for the second year in a row. Based on an ethos that is good for the whole Thames Valley - “Success in our region is never an accident; it is achieved by a relentless pursuit of excellence, creative brilliance and a deep commitment to our enduring values.”
We are incredibly proud of our successful region, its continued role in driving economic prosperity across the UK and the truly international community that welcomes new business and encourages our resident business community to trade, invest and continue to grow.
Paul Britton CEO, Thames Valley Chamber of Commerce
1 EY UK & regions economic forecast 20162 http://www.thamesvalley.co.uk/market/ey-report-announces-the-thames-valleys-reading-will-be-the-uks-fastest-growing-city-until-2019/ 3 Cities Outlook (2017), Centre for Cities – see: http://www.thamesvalley.co.uk/blog/thames-valley-cities-and-towns-ranked-highly-in-annual-barometer-of-economic-performance/
Types of foreign direct investment (FDI)
Thames Valley Inward Investment Results 2016/17
United Kingdom
Types of investment 2012/13 2013/14 2014/15 2015/16 2016/17 Increase %
New investments 777 820 1,058 1,130 1,237 9%
Expansions 577 677 740 821 782 -5%
Mergers and Acquisitions (including Joint Ventures) 205 276 190 262 246 -6%
Total projects 1,559 1,773 1,988 2,213 2,265 2%
New projects and jobs
English Regions Number ofFDI projects
Number of New Jobs
East Midlands 74 1,796
East of England 125 3,634
London 891 20,753
North East 69 4,609
North West 147 6,501
South East 217 5,432
South West 101 3,402
West Midlands 151 6,570
Yorkshire and the Humber 132 3,872
1
1 Scotland183 Projects
5,547 New jobs
2 England (excl London)
1,016 Projects
35,816 New jobs
3 London891 Projects
20,753 New jobs
2
3
4 Northern Ireland34 Projects
1,622 New jobs
5 Wales85 Projects
2,581 New jobs
4
5
2
Types of foreign direct investment (FDI)
Thames Valley Inward Investment Results 2016/17
Thames Valley
Types of investment 2012/13 2013/14 2014/15 2015/16 2016/17
New investments 24 28 36 53 58
Expansions 58 48 38 38 45
Mergers and Acquisitions (including Joint Ventures) 0 0 13 28 9
Total projects 82 76 87 119 112
New projects and jobs
Thames Valley Counties Number ofFDI projects
Number of New Jobs
1. Berkshire 68 1,386
2. Buckinghamshire 7 54
3. Oxfordshire 37 779
Total 112 2,219
3 2
1
2016/17
Greater London
FDI projects by investment typeThames Valley - 2016/17
3
2
1 Berkshire
Buckinghamshire
Oxfordshire
3
37
0
5
10
15
20
25
30
35
40
New Investments Expansions Mergers and Acquisitions
2
19
25
4
16
6
1 2
Thames Valley Inward Investment Results 2016/17
Projects and jobs*created in the Thames Valley2012 - 2017
Total new and safeguarded jobs by industryThames Valley - 2016/17
Industries
Software and Computer Services
Creative Industries & ICT
Life Sciences & Healthcare
Electronics & Telecommunications
Financial & Professional Services
Business and Consumer Services
Advanced Engineering (Aerospace & Automotive)
Retail, including Food and Drink
Other
Projects by industryThames Valley - 2016/17
119 projects
2,495 jobs
87 projects1,704 jobs
76 projects
887 jobs
82 projects
1,807 jobs
2015/16
2014/15
2013/14
2012/13
112 projects
2,219 jobs2016/17
*total new and safeguarded jobs
266203
338
183
34
185
329
4
447
234
1316
18
107
4
19
1411
FDI Projects by Value
Thames Valley Inward Investment Results 2016/17
Thames Valley - 2016/17
Value Number of Projects % of Total
Higher Value 47 42%
Good Value 25 22%
Standard Value 40 36%
Total 112 100%
36%
22%
42%Standard
ValueHigherValue
Good Value
FDI Projects by ValueThames Valley - 2016/17 - 2014/15
40 40
24 23 24
55
2015/16Number of Projects
2014/15Number of Projects
47
25
40
2016/17Number of Projects
Higher Value Good Value Standard Value
5
Top Source Markets for FDI projects
Thames Valley Inward Investment Results 2016/17
Thames Valley - 2016/17
Rest of Americas1 Projects
19 New jobs
0 Safeguarded jobs
Rest of Europe, Middle East & Africa15 Projects
475 New jobs
0 Safeguarded jobs
Rest of Asia Pacific3 Projects
6 New jobs
5 Safeguarded jobs
Spain2 Projects
15 New jobs
0 Safeguarded jobs
United States39 Projects
676 New jobs
1 Safeguarded jobs
Canada6 Projects
49 New jobs
1 Safeguarded jobs
France7 - Projects
211 - New jobs
1 - Safeguarded jobs
Netherlands4 Projects
61 New jobs
0 Safeguarded jobs
6
Top Source Markets for FDI projects
Thames Valley Inward Investment Results 2016/17
Thames Valley - 2016/17Japan1 Projects
44 New jobs
0 Safeguarded jobs
Singapore2 Projects
6 New jobs
30 Safeguarded jobs
China5 Projects
41 New jobs
0 Safeguarded jobs
South Africa2 Projects
149 New jobs
0 Safeguarded jobs
Germany7 Projects
223 New jobs
0 Safeguarded jobs
Australia7 Projects
77 New jobs
0 Safeguarded jobs
India8 Projects
122 New jobs
1 Safeguarded jobs
Projects112
Total jobs2,219
Safeguarded jobs339
7
UAE3 Projects
45 New jobs
300 Safeguarded jobs
Case studies
Thames Valley Inward Investment Results 2016/17
Kosei Pharma UK’s growth and expansion continues Established in 1952, Kosei Pharmaceutical Co Ltd is celebrating 65 years as a pharmaceutical wholesaler
In an article published by UKTI in April 2011, the Managing Director of Kosei Pharma Group, Kohei Toda, stated: “We expect to see market growth here within two to three years, with a sales profit of up to 10 billion yen.” What has happened since then? The rapid growth of Kosei UK led to their relocation to larger premises on the Slough Trading Estate, followed by the addition of a nearby property in 2015.
The company currently employs 180 local staff, compared to the 13 it began with six years earlier and is now a medium-sized company with an annual sales turnover of £23 million (33 billion yen). During this period of expansion, they have maintained close links with DIT and TVCC.
When a company sets up and runs a business outside of its home country, it is crucial to have strong support from the relevant people. Kosei’s UK arm is fast approaching the same level of operation as the group’s headquarters in Japan. During the expansion process, the Parent Group has received invaluable support from DIT/TVCC. While the company’s primary operation includes the import and export of products between the UK and EU countries, they are excited about the future.
Kosei Pharma UK has become the focal point for strategic and global marketing of the group’s pharmaceutical products and now also invests in generic (bioequivalent) medicines. Kosei Pharma Group’s vision is to become a prominent player both as a wholesaler and a manufacturer in the pharmaceutical industry, and they anticipate further growth through continued work with the DIT.
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in Japan. In 2011, UKTI (now DIT), provided some initial support to expand Kosei’s global operations through their first overseas investment. Since then, the DIT and Thames Valley Chamber of Commerce (TVCC) have been working with Kosei Pharma Group to secure their continued investment in the Thames Valley (Slough) and into Europe.
“The DIT provided us with a comprehensive range of support, including advice on potential new locations and industry regulations. They also introduced us to local service providers, from recruitment agencies and banks to lawyers. This type of practical support and guidance really helped smooth the way”.
Kohei Toda
The UK arm subsequently saw further development as the European headquarters of Kosei Pharma Group. In October 2016, the telesales office was set up in India and Kosei Pharma GmbH was registered. The business is currently setting up its German base, and, thanks to the continued support of the, is now in touch with German inward investment organisations.
Case studies
Thames Valley Inward Investment Results 2016/17
From Boston to Berkshire - a growing phenomenonInward investment by businesses from the East Coast of America into Berkshire has experienced a significant increase this past year. The Department for International Trade (DIT) and Thames Valley Chamber of Commerce (TVCC) report on new investment, including Q-Stream; Alnylam and Acquia, as well as expansions by Black Duck Software and Rapid7.
Qstream – makers of a “mobile sales capabilities platform” – have opened a new sales HQ for the EMEA region in Maidenhead, following growth of 200%+ in international bookings. Qstream join many established tech companies and start-ups based in England’s “Silicon Valley” – the Thames Valley. The introduction to the Thames Valley was made by the DIT’s representative within the British Consulate in Boston. Alnylam, one of the most promising US biotechnology companies, is based in Cambridge MA, and has joined a growing number of life science and healthcare businesses by establishing its European drug development and UK and Ireland commercial headquarters in Maidenhead. The firm also announced its intention to build up a team of more than 100 staff and welcomed positive messages of support received from Prime Minister Theresa May, in whose constituency the investment lies.
Acquia, from central Boston, provides the ‘leading cloud platform for building, delivering and optimising digital experiences’ and is actively recruiting and expanding its operations in Reading. Founded in 2007, it is a four-time Deloitte Technology “Fast-500” firm. The DIT previously supported Acquia as they established their Reading office. Near the end of 2016, Black Duck Software announced its decision to double the number of people at their UK office in Reading. Stephen Gregorio, CFO said “while we have folks throughout EMEA, Reading is our home base. The sales reps in the UK definitely generate more than 30% of our total EMEA business”. Rapid 7, a Technology company who deliver the advanced analytics that allow security, IT, and operations to collaborate, expanded its presence in the UK from their Berkshire base in Reading. The company are now over 50 strong, with staff in sales, marketing and operations staff. Most recently, DIT have supported their growth by making introductions to local partners, like the Thames Valley Chamber, to help raise their profile in the UK and access public sector procurement opportunities.
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Akshay Vaishnaw, Alnylam’s Chief Medical Officer said “The
decision shows that the threat of Brexit has not eliminated Britain’s
attractiveness as a home for the life sciences industry”.
Brendan Martin, head of the UK operation of Alnylam, commented: “With its strong academic and clinical research sector, as well as its universal health service and regulatory bodies constantly striving to be more streamlined and efficient, the UK has a lot to offer as a development hub for innovative medicines. Our investment here signals a trust that the UK community will continue to treat this mission with the urgency and importance it deserves.”
Case studies
Thames Valley Inward Investment Results 2016/17
Alnylam sees further growth at its European Clinical Development and Regulatory Hub Alnylam, founded in 2002 and headquartered in Cambridge, Massachusetts, is the leading corporate exponent of RNAi therapeutics (RNA interference), which makes it possible to “silence” disease-causing genes. It has a broad range of drug candidates in clinical trials for rare inherited diseases and for more common metabolic and cardiovascular diseases. Clinical trials to test the RNAi platform for the first time in humans were designed through collaboration between UK experts and Alnylam researchers in Cambridge, Massachusetts; thereafter, the UK’s demonstrated expertise in clinical trials design made it an ideal location to perform early clinical testing. It was then, according to Brendan Martin, General Manager, UK & Ireland, “a natural step to establish a European hub in Maidenhead, where the ex-US clinical development and regulatory affairs teams are now located.” The office opened on 20 September 2016, and since then staff numbers have increased to 20.
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Alnylam anticipates the commercialisation of its first product in 2019, and is now developing its capabilities accordingly. Whilst the company’s Europe & Canada commercial headquarters are in Switzerland, the UK office is now tapping into the rich talent pools in the Thames Valley to recruit staff with Commercial, Clinical Development, Regulatory and EU HQ experience.
‘We received excellent support from the DIT who, together with the Thames Valley Chamber of Commerce, provided us with valuable introductions to organisations such as the Oxford Rare Disease Network and individuals such as Sir John Bell, Regius Professor of Medicine at Oxford University. This has helped to develop our understanding of UK policy in relation to the Life Sciences sector, which was particularly useful at the start of our UK operation.”
Brendan MartinGeneral Manager, UK & Ireland - Alnylam
Case studies
Thames Valley Inward Investment Results 2016/17
University spinout OXSIGHT secures seed funding from a prolific Chinese Entrepreneur to support growthThe University of Oxford spin-out, Oxsight, uses the latest smart glasses to improve sight for blind and partially sighted people. Its aim is to develop sight enhancing technologies to improve the quality of life for blind and partially sighted people around the world, affected by conditions like glaucoma, diabetes and retinitis pigmentosa as well as some other degenerative eye diseases.
OxSight’s smart glasses use a unique camera system and computer vision algorithms to detect and highlight objects, separating them from the background in real-time. This allows people with even the lowest amount of sight to make better use of their vision in challenging everyday scenarios.
During 2016/17 OxSight raised seed funding from Chinese angel investor Mr Zhang Jiangong, who joins existing partners including Google, the Royal National Institute of Blind People, the University of Oxford and the Royal Academy of Engineering. As the new Chairman, Mr Zhang is guiding OxSight through the critical initial phases and helping the company with an introduction to the Chinese market.
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OxSight founder Dr Stephen Hicks said: “About 90 per cent of legally blind people retain some residual vision. Our aim is to allow individuals to make the most of this”. “Behind these glasses is ten years of work developing a real-time computer vision algorithm that mimics some of the basic components of human visual perception. It highlights edges and features which make many objects easier to see, especially in low light where many people struggle.”
Mr Zhang said: “OxSight offers immense value to society globally. It has been a great pleasure working with a very talented team at Oxford and we look forward to building new partnerships and making a significant impact.”
“We aim to move swiftly to develop these glasses for the blind community to use day-to-day, greatly improving their independence. They have already given us valuable feedback and co-operation, and our aim is to hit our regulatory, technical and manufacturing milestones as quickly as possible.”
Dr Rakesh RoshanCEO, OxSight
Technology commercialisation company Oxford University Innovation assisted the researchers in protecting the intellectual property and commercialising the smart glasses. The technology is protected by patents, copyright and proprietary know how. RTC Innovation, a UK-based Chinese technology transfer company also provided valuable support.
Case studies
Thames Valley Inward Investment Results 2016/17
Hachette UK builds world class distribution centre in DidcotHachette UK is the second largest book publishing group in the UK. The group consists of over 50 imprints within different publishing divisions: Hodder & Stoughton; Headline Publishing Group; John Murray Press; Quercus; Little, Brown
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“The Department for International Trade has been very supportive in this venture, particularly with assisting and communicating with Hachette during the Planning Application process”
Andy DaviesProject Director, Hachette UK
The company is making a significant investment in the complete reorganisation of its distribution services, including the development of a green field semi-automated warehouse, which will be the most sophisticated of its type in Europe, in the second phase of the Didcot Science Vale Enterprise zone. The site was chosen because of its excellent infrastructure and transport links and, as it is less than one mile from Hachette’s existing warehouse on Milton Park, it has allowed Hachette to retain a large number of key staff along with the creation of a significant number of new jobs once the warehouse is fully operational.
The new facility, which is 240,000 sq.ft. and 23m high, is being built to Hachette’s specific requirements with fit-out, including the installation of a high bay shuttle storage system and associated picking & conveyor modules, being managed by Hachette directly. The base build was completed in July 2017, with the fit-out continuing through to March 2018.
Bookouture; Octopus Publishing Group and Hodder Education. It also has companies in Australia, New Zealand, India and Ireland.
Building work, which began on the new site in October 2016, will be completed in late 2017. Hachette Distribution and its group and client publishers will then undertake a carefully phased transition to the new site beginning in 2018 and continuing through until 2020.
Thames Valley Inward Investment Results 2016/17
Aylesbury Enterprise ZoneAylesbury Vale Enterprise Zone (AVEZ) is a multi-site facility, based in the heart of the UK’s life sciences and technology ‘Golden Triangle’ and at the centre of the ‘Oxford to Cambridge Arc’.
The Enterprise Zone is linked to three nationally strategic assets - Silverstone Park (home to the iconic F1 British Grand Prix); Westcott Venture Park and Arla / Woodlands, and the EZ will strengthen the infrastructure that connects these sites, attract and develop new business investment; speed up growth and development of local enterprise, and support the drive for increased levels of foreign direct investment.
The AVEZ is intended to build on the key assets of the locality and help realise the untapped potential to add value to the globally established clusters that exist around the high performance technology/motorsport; space propulsion/environmental engineering; and agri-food/human health sectors.
The scale and specialised nature of the development, the mix of uses and the highly strategic position, at the heart of the ‘Golden Triangle’ and at the centre of the ‘Oxford to Cambridge Arc’ will enable AVEZ to challenge internationally as a major new employment location over the coming years.
In total, Enterprise Zone designation covers over 960,000 sq. m of commercial land with the potential for the creation of over 8,000 new jobs. See ‘What’s proposed’ by clicking here.
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Thames Valley Inward Investment Results 2016/17
Thames Valley Science ParkMore than 8,000 technology-led companies, from big blue chips to entrepreneurial start-ups and life sciences companies to data analytics firms, make the Thames Valley Region one of Europe’s strongest knowledge economies, with a digital cluster that ranks highest in employee productivity.Thames Valley Science Park (TVSP), a new 47-acre Science Park development, aims to support the evolution of next generation technology companies through the provision of specialist facilities and links to the University of Reading. Over 800,000 sqft of additional commercial development space is coming on stream in the heart of the UK’s premier digital, knowledge economy.
Following the construction and letting of 200,000 sqft of space, the Park’s development will see a further 600,000 sqft (55,741 sqm) of additional commercial development space come on stream this year and in following years. The University is particularly keen to attract technology and life sciences companies to the Park, to strengthen one of Europe’s strongest tech and life-sciences clusters.
A new TVSP commercial opportunity document outlines the benefits for investors and occupiers and offers an immediate £150m (US$184m) investment opportunity, with wider appetite from the University to offer more to funders and funding institutions.
With ambitious plans in place, including planning permissions, local partners strongly believe the time is right to promote and showcase the TVSP to overseas investors and new occupiers alike to help ‘shape its future’.
“Thames Valley Science Park is really taking shape with buildings completed/near completion, tenants signed up and an additional new consent. This means we’re well placed to contribute to and help strengthen the position of the Thames Valley as one of Europe’s premier destinations for FDI and our ambitious, long-term plans to continue to expand our region’s thriving community of knowledge-based companies. Our TVSP commercial opportunity document is a great summary of the investment opportunity and call – to potential investors and new occupiers – to come and talk to the University of Reading and help shape its future and our place in the region.”
David Gillham Director of Thames Valley Science Park
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Thames Valley Inward Investment Results 2016/17
Science Vale UKHome to scientists, entrepreneurs and innovators in the heart of the Thames Valley countrysideScience Vale UK, one of the UK’s most important science-based regions, recently re-launched to showcase the business and lifestyle benefits of moving to this important area and the financial savings achievable within 216 hectares of Enterprise Zone (EZ) land.
The benefit of saving up to £55,000 a year for 5 years on business rates for qualifying companies attracts a wide range of scientists, innovators and entrepreneurs, from both the UK and overseas, to start and build their business here in the heart of the Thames Valley.
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“The creation of the Enterprise Zone at Harwell has been instrumental in allowing Oxsensis to grow and expand into new premises capable of meeting our Aerospace customers’ requirements. We have doubled our floor space, allowing us to hire additional skilled staff and we’re now looking to employ our first apprentices. All possible due to the Enterprise Zone.”
Patrick Cohen, Finance Director of Oxsensis Rutherford Appleton Laboratory (RAL) ‘spin-out’
We have a world-leading concentration of research facilities at the Harwell Campus and the Culham Science Centre. The associated development, commercialisation and manufacturing activity found here and at Milton Park attracts and retains businesses.
The importance of the Aerospace, Life Sciences, Energy and Advanced Engineering clusters can be seen in the growth of Immunocore, a 1999 spin-out company from Oxford University.
Since 2000, Immunocore has been based at Milton Park and will shortly move to a flagship 53,000 sqft. purpose built laboratory facility on the same site that will house 450 scientists within an EZ.
The Didcot Growth Accelerator is the latest EZ award, located around Didcot Garden Town, with sites capable of delivering 3.25m sqft of new business space and 8,500 jobs. It has multiple-occupancy and stand-alone commercial facilities ready for immediate occupancy, plus brown and green field sites ready to be developed.
The region and its EZ are a sound, long-term investment in the Thames Valley - one of the UK’s fastest growing regional economies outside of London. Developers are demonstrating confidence in the Science Vale UK region and Enterprise Zones, building new commercial units on a speculative basis for future company relocations.
15,000 new homes and 20,000 new jobs are planned for the next 20 years in the area. With the EZ set in an Area of Outstanding Natural Beauty (AONB), it makes the perfect lifestyle choice for businesses and their employees.
Thames Valley Inward Investment Results 2016/17
Pitmans new Kickstart International Initiative – bespoke service for inward investment Pitmans Law, one of the region’s leading legal practices, offers a bespoke inward investment package for entrepreneurs, inward investing enterprise and foreign-owned companies looking to locate or expand in the Thames Valley.
“Our clients tell us, more than anything, they appreciate that Kickstart International gives them seamless business help and support, now and for the future”
Angela Shields Kickstart Client Partner
Kickstart International is designed to deal with all the legal support issues enabling businesses to focus on concept development and growing the business, whilst ensuring compliance with UK laws are met. Kickstart removes the challenges, obstacles and pressures at a time when companies are often time poor. Experience has shaped the Kickstart International programme and Pitmans fully understands and appreciates the concerns a business may face at the start of a venture in the UK. The programme helps businesses navigate through the process and develop the foundations from which it can succeed in the UK.
Kickstart International provides a full range of legal support, including contracts and documents, a company secretarial service, telephone advice, document review service and a directors’ toolkit containing fact sheets and guides. The Kickstart International team can also offer a legal health assessment and a cloud based storage service. The package is provided on a retainer basis enabling the business to budget their annual legal spend; providing access to the team and developing a long-term, sustainable business relationship in which the Kickstart International team can act as an extension of the company’s own team. The Kickstart platform also provides FAQs, fact sheets, news items, guides and mentoring.
Kickstart International offers a tailored package of ongoing support for businesses in their first few years (1-3) of operation in the UK.
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Thames Valley Inward Investment Results 2016/17
Thames Valley Chamber of CommerceLocal Engagement, Regional Representation, Global Opportunity Thames Valley Chamber of Commerce (TVCC) is one of the largest accredited Chambers within the United Kingdom, and the only accredited Chamber of Commerce for the Thames Valley region. The Chamber works with businesses across Berkshire, Buckinghamshire, Oxfordshire and Swindon to help companies achieve their full business potential.
Representing over 4,000 companies in membership, the Chamber credits a range of impressive stats:
295,000 combined number of staff employed by members
5000+ number of active trade customers
£2,296,142,738 – value of international trade enabled in 2016
Average 150 new trade customers each year
172 countries trading with our customers
83 sectors represented by members and international trade customers
Over 65% of international companies setting up, or expanding, in the Thames Valley have been supported by TVCC.
For further information on the TVCC and its inward investment service email: [email protected] visit Thames Valley UK, the premier region-wide inward investment portal, click here.
The Chamber provides businesses with both inward investment and export support and services. It assists new UK and Foreign Owned Companies (FOCs) looking to invest and those already present in the Thames Valley to expand or export. As the only region-wide inward investment service it has established itself as a proven ‘centre for excellence’. It continually supports businesses and works in partnership with the Department for International Trade and three Local Economic Partnerships offering access toa wide range of locally based multipliers, commercial partners and business networks and events, to support a company’s investment into the Thames Valley.
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Thames Valley Inward Investment Results 2016/17
Chamber Unveils Japan and China DesksThe Chamber’s Japan and China Desks work with member companies, providing a range of services, including market entry, contract negotiation and strategy agreements, business development, and helping to identify and develop partnerships.
The Japan Desk leads the Chamber’s strong and established partnership with Osaka/Kansai Chamber and the Japanese Embassy here in the UK to encourage inward investment, strengthen trade and build closer working relationships with Japanese companies already established in the Thames Valley. With many UK companies continuing to show a strong interest in dealing with Japan for exporting, importing and collaborative partnerships, many ongoing opportunities are readily available.
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Well supported by Chinese trade authorities, Chambers and trade associations, both state-owned and private companies, the China Desk is well placed to support inward investors looking at the UK, and the Thames Valley, as an investment destination. In recent years, a special relationship has built with the leading economic powerhouse in China – Guangdong Province and its 21 cities.
Selected services include:
Specialist helpline
1-2-1 consultation
Events and market visits
Bilateral market entry (inward investment) support
Multi-cultural business training
Enquiries seeking agents, importers, distributors and manufacturers
Market updates and briefings
If you would like any further information about either the Japan or China desks, or to book a 1-2-1 with a specialist, contact: [email protected], or phone: +44 (0)1753 870 560.
Thames Valley Inward Investment Results 2016/17
Invest in Great Britain
IiGB aims to:
Unify the Department for International Trade’s (DIT) investment marketing activity to deliver high value inward investment in pursuit of HMG’s target of £1.5 trillion (FDI stock by 2020).
Deliver new, qualified, leads to the national inward investment pipeline.
Provide a ‘one stop shop’ for potential investors; http://invest.great.gov.uk.
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Invest in GREAT Britain (IiGB) promotes the UK as the leading destination for inward investment from around the world. The campaign helps maintain the UK’s position as the number one choice for FDI into Europe by attracting new investors from priority sectors and markets.
South East region Consistent high performer
SE attracted over 1000 FDI projects during this time period, around 30% coming from the EU.
SE continues to perform outstandinly (2nd only to London) as a destination for FDI.
Thames Valley contributes significantly to the South East, we estimate just over 43% of the total (around 466 FDI projects of the SE total of 1,082).
SE regularly outperforms the North-West region (687 FDI projects) and the West Midlands (731 FDI projects).
The South East (SE) and Thames Valley sub-region performs consistently well in the most recent statistics published by the DIT for FDI projects, by UK region, for tax years 2012/13 to 2016/174.
The report reveals that the:
4 https://www.gov.uk/government/publications/foreign-direct-investment-projects-by-uk-region-2012-to-2017/foreign-direct-investment-fdi-projects-by-uk-region-tax-year-2012-to-2013-to-tax-year-2016-to-2017
Thames Valley Inward Investment Results 2016/17
Markets As this year’s statistics again show that the Thames Valley attracts investment from a wide range of markets from across the globe, including Australia, Canada, China, India and the UAE as well as several European countries.
Consistent with the region’s sector strengths and global assets (which help attract FDI), we attract investment from particular markets because of these strengths and the truly unique centres of excellence located here.
The United States remains the dominant source of FDI, with around a third of all investments into the Thames Valley coming from this market. Consistently selected by many North American Corporates as the favourite location for their European HQ’s, the Thames Valley provides a familiar business culture with no language barriers, and in close proximity to the UK’s only hub airport – London Heathrow.
Sector strength and truly global assets
Space and space related technology: the Harwell Campus in Oxfordshire is the UK’s gateway to the space industry and a global centre of excellence, research and development. It is home to the UK’s Diamond Synchrotron and the European Space Agency (ESA).
Life Sciences and Healthcare: the region is at the heart of the ‘Golden Triangle’ – one of the most mature clusters in Europe and home to some of the globe’s industry leads.
High-Performance Technology: home to the iconic British F1 Grand Prix, Silverstone, in Buckinghamshire is at the hub of the world’s most unique high-performance technology cluster, ‘Motorsport Valley’. A significant majority of F1 teams are based in the Thames Valley and the sector is driven by a uniquely impressive array of established and innovative companies providing industry supply chains and supplier networks to serve the automotive and advanced engineering industry.
Technology (ICT): Berkshire’s M4 corridor is a preferred location for many of the world’s most famous and innovative ITEC brand names, including Canon, Cisco, Computer Associates, Dell, Huawei, Microsoft, Oracle, Telefonica and Vodafone. Along with these established brands, the region is home to a growing number of young, innovative, disruptive technology firms. There are several newcomers to the region this year, including Carbon Black, Cirrus 10, Rapid 7, Reaction Engines, 3D Systems, Mix Up Reality, Profitero. Slough’s pre-eminence as a location and European mega-cluster for Datacentres grows with 23+ clustered on SEGRO’s industrial estate.
Creative industries: With the famous Pinewood Film Studios, in Buckinghamshire, at its heart, the region is part of a global centre of excellence for the creative industries, including digital media and gaming. Combining a world class creative talent base with an established tech sector and an ecosystem of innovators, the region is the ‘perfect location’.
A proven inward investment destination, and the UK’s true ‘turbo-economy’, the Thames Valley region’s strength is the breadth and depth of the cluster of highly productive, innovative companies across a range of key sectors. A supportive network of academic institutions, R&D collaboration and centres of excellence, along with an internationally focused talent pool, ensures that businesses located in the Thames Valley can operate at the highest possible levels and standards. Our key sector strengths include:
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Thames Valley Inward Investment Results 2016/17
Connectivity is KingThe Thames Valley can truly describe itself as one of the UK’s, and Europe’s, best connected locations for business. London Heathrow Airport serves the needs of a truly international business location which is the first choice, outside of London, for businesses establishing a UK office.
In 2016 London Heathrow welcomed over 73m passengers. Over 80 airlines connect the airport to 194 destinations in 82 countries. Heathrow currently serves 31 North American destinations directly with up to 119 daily departures – 24 serving the US and 7 serving Canada. In committing to a new 3rd runway at Heathrow, the Government has provided a strong message to the region and the UK. Benefits will include up to £211bn in economic benefits across the UK, up to 40 new direct long-haul destinations served, and new domestic routes, rising from 8 today to 16 in total.
Resulting in excellent road and rail connections. Over £16 billion worth of investment has been made into the Thames Valley region’s infrastructure network.
Crossrail Europe’s largest infrastructure project will be fully
operational in 2019. Connecting Reading and Heathrow to London and the City, journey times from Maidenhead
to Canary Wharf will be less than an hour
Western Rail Link to London Heathrow
is a proposed rail link connecting the Thames Valley to Heathrow, reducing journey times between Slough and
Heathrow to just seven minutes
Smart M4
is a £580m+ scheme to improve the M4 by making it a ‘smart motorway’ between junctions 3 and 12.
Enabling works have already begun, with main works due to start in 2017/18
East-West Rail
is a scheme to re-establish a link between Oxford and Cambridge, which will help unlock the region’s economic
potential in the north of the region and support significant housing growth. Phase 1 of the scheme (Bicester to Oxford
and London Marylebone) is now complete
M4
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OXFORDCAMBRIDGE
LONDON
Thames Valley Inward Investment Results 2016/17
Oxford University claims top world ranking for the second year, in the Times Higher Education World University Rankings 2018 (published September 2017), which judge the performance of 980 universities across 79 countries. In last year’s rankings Oxford became the first British university ever to occupy top position in the global table.
Times Higher Education describes the World University Rankings as the only international league table to assess universities across all activities, analysing their teaching, research, citations, industry collaboration and international outlook. Oxford’s innovative research was identified as a particular strength, generating a large rise in institutional income.
The University of Oxford contributes around £5.8 billion (bn) to the UK economy5, and supports more than 50,000 full time jobs. Globally, the impact is £7.1bn. Regionally, it adds £2.3bn a year to the Oxfordshire economy alone, supporting 33,700 jobs in the County.
Access to World Leading Academic InstitutionsThe Thames Valley is home to a cluster of world leading academic institutions each with specialist areas of research, development and industry collaboration. These include the University of Oxford, University of Reading, Oxford Brookes and University of Buckingham.
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University of Oxford Global leader and economic powerhouse
5 https://www.ox.ac.uk/about/facts-and-figures/economic-impact?wssl=1
“This report provides evidence for something long known around Oxford: the university drives the economy, both locally and nationally, as well as having a significant international presence. We provide jobs, attract investment and conduct globally recognized research that improves the lives of the people of Oxfordshire and of the United Kingdom. We are a global institution deeply rooted in a vibrant local community and can be an engine of the British economy into the future.”
Professor Louise RichardsonThe Vice-Chancellor of the University of Oxford
Thames Valley Inward Investment Results 2016/17
The strength and value of the University’s innovation (OUI) ecosystem was demonstrated in a report6 showing that Oxford University contributes £7.1bn to the global economy every year, with the University’s commercialisation activities responsible for £1.2bn.
In May 2017, OUI was named Technology Transfer Office of the Year7 marking the second time OUI has been highlighted as a world leader in the field.
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Overall, the report found that every £1 of University income returns £3.30 to the wider UK economy.
6https://innovation.ox.ac.uk/news/oxford-worth-7-1billion-worlds-economy/ 7https://innovation.ox.ac.uk/news/oui-named-technology-transfer-office-year/ 8 Times Higher Education World University Rankings 2016/17 and QS World University Rankings 2018
University of Reading
University of Reading (UoR) is ranked one of the top universities worldwide8 and 98% of its research is rated as being of international standing. Its collaboration with the business sector places it at the forefront of many areas.
A recent study on the Economic Impact of the University of Oxford measured the University’s impact regionally, nationally and globally. It considers the impact of a range of University activities, including:
Core spending, including staff spending (contributing £2.2 billion a year nationally)
Student spending, work and volunteering (£80 million)
Commercialisation of Oxford University research (£320 million)
Partnership with business and industry, including our science parks (£439 million)
Tourism and cultural contribution (£58 million)
Oxford University Press (£383 million)
Additional graduate earnings (£432 million)
Contribution to health (£1.8 bn)
Thames Valley Inward Investment Results 2016/17
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Oxford Brookes University Oxford Brookes University has over 150 years of history and has an international reputation for teaching and research excellence. The university has innovative courses with an emphasis on practice as well as theory and teaching staff with strong backgrounds in industry.
Oxford Brookes is listed in the Times Good University Guide
(2016) as one of the top 25 universities for teaching quality, and staff have received 10 National Teaching Fellowship awards for outstanding teaching.
Notably,
Meteorology where the University is world-renowned for its pioneering research on the fundamental dynamics and physics of weather and climate and the Institute of Environmental Analytics – a leading body in applied research
the affiliated College of Estate Management (CEM) a global centre of excellence in construction, property and estate management
Henley Business School - the business school of the UoR – which was the first business school to be established in the UK and is one of the oldest and most respected schools in Europe.
It is consistently ranked among the world’s top 50 business schools by the Financial Times and The Economist. It is
proud to be one of only 73 business schools in the world to hold triple-accredited status from the leading UK, European and US accrediting bodies: AMBA, EQUIS and AACSB. for the quality and capability of our faculty and output.
Oxford Brookes was ranked in the UK’s top 10 for the following key subject areas by the Guardian University Guide 2018: Hospitality, Event Management & Tourism (5th); Journalism, Publishing & PR (4th). In addition, the Mechanical Engineering and Mathematical Sciences department take advantage of their fortunate position at the centre of the ‘hub’ for clean automotive and related industries to have strong, research-led teaching programmes and collaboration with research councils and organisations such as BMW.
Unique in its approach it is the only independent University in the UK with a Royal Charter and probably the smallest with around 2,500 students, from about 80 different counties, having
achieved the Teaching Excellence Framework Gold Standard in 2017.
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The University is continuing its development with the help of the Buckinghamshire and Thames Valley Local Enterprise Partnership. Construction has already starting on the Vinson Centre for Liberal Economics and Entrepreneurship, where the world leading BSc Business Enterprise Venture Creation Programme and other entrepreneurial courses will be located. It will also include the Buckingham Enterprise Hub, the home to regional start-ups and growth businesses.
University of Buckingham Since its inception, more than 40 years ago, the University of Buckingham has always been innovative and entrepreneurial and has consistently influenced the course of mainstream Higher Education in the UK: first to charge fees, first to welcome international students, first to launch a two- year degree course; first to embrace the free market in higher education and in 2015, the first to open an independent medical school.
Published September 2017Source: Department for International Trade www.thamesvalley.co.uk
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