Winning bid to drive millions of investment into Worcestershire
PUBLISHED: 12:56 11 September 2018
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"We are delighted that Worcestershire's 5G Industry 4.0 pilot and expertise has been recognised as a High Potential Opportunity. At a critical time for national inward investment, Worcestershire is leading on 5G progress and seeing an increase in investor interest."
Worcestershire is set to benefit from global investment as part of the government’s multi-billion-pound ‘High Potential Opportunities’ (HPO) scheme.
The announcement forms part of an estimated multi-billion-pound boost to the UK economy, whereby Worcestershire, Leicestershire and Warwickshire will be promoted by the Department for International Trade to investors around the world.
The Department for International Trade’s (DIT) global network, based in 177 cities around the world, will contact investors to promote the opportunities and attract top global investment into Worcestershire. The scheme identifies opportunities to attract foreign direct investment into emerging sectors, regions and clusters, creating new jobs and growth in every corner of the UK.
Worcestershire Local Enterprise Partnership successfully submitted the HPO bid, leading to greater opportunities for Worcestershire technology companies to increase and innovate their data security capabilities. The High Potential Opportunities Scheme is part of the International Trade Secretary’s drive to secure new investment into the Midlands.
Gary Woodman, Chief Executive of Worcestershire Local Enterprise Partnership, said: “We are delighted that Worcestershire’s 5G Industry 4.0 pilot and expertise has been recognised as a High Potential Opportunity. At a critical time for national inward investment, Worcestershire is leading on 5G progress and seeing an increase in investor interest.
“Our business community is continuing to innovate and thrive, and our developments of 5G applications are already capturing the attention of investors on a global scale. We look forward to maximising this momentum with the Department for International Trade.”
For more information, visit the Worcestershire Local Enterprise Partnership website.