Wakefield firms among top in foreign direct investment

04/06/2019, PR-9070

Two Wakefield companies have been named among 29 businesses in the Leeds City Region (LCR) for strong performance in attracting foreign direct investment (FDI) in 2018.

Within LCR, Leeds was ranked as the third best performing city in the UK, outside of London, according to the UK Attractiveness Survey released today by the global accounting firm Ernst & Young.

Both companies in Wakefield are in the transportation logistics industry and the FDI recorded was for the expansion of their business in the district.

One was the Swiss firm Kuehne + Nagel International and the other is the Dutch company NewCold.

The total number of FDI projects within both LCR and the wider Yorkshire & Humber region was 49 and was the fifth best-performing region in the UK.

NewCold and Kuehne + Nagel transportation logistics. Both companies have operations in Wakefield.
NewCold and Kuehne + Nagel transportation logistics. Both companies have operations in Wakefield.

Cllr Denise Jeffery, Cabinet Member for Economic Growth and Regeneration, said: "Congratulations to Kuehne + Nagel International and NewCold for their strong performance despite dramatic declines elsewhere in the UK due to the uncertainties of Brexit. The district continues to punch above its weight and the council continues to forge ahead with policies and programmes to enable a strong business development climate.

"Later this month, we will be hosting the Wakefield Business Week from 17 to 21 June which includes learning and development workshops on innovation and manufacturing for the export market. The sessions are all free and I would urge businesses to sign-up early."

All events are free of charge.