As the Board of Trade meets in Coventry today (Thursday 6 September), International Trade Secretary Dr Liam Fox MP will announce 3 new High Potential Opportunities (HPO) areas.
The Department for International Trade’s (DIT) global network – based in 177 cities around the world – will now contact investors to promote the opportunities and attract top global investment into the Midlands.
The scheme, coordinated by DIT, identifies opportunities to attract foreign direct investment into emerging sectors, regions and clusters – creating new jobs and growth in every corner of the UK.
The recent round of successful HPO bids will see:
- Leamington Spa’s gaming industry in Warwickshire bolstered
- Leicestershire’s leading space sector strengthened through satellite production and earth observation technologies
- 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. Earlier this year, Dr Fox announced more than £30 billion worth of investment-ready projects, of which nearly £11 billion are in the Midlands.
International Trade Secretary and President of the Board of Trade Dr Liam Fox MP said:
The High Potential Opportunities scheme will deliver growth where it is most needed, ensuring that the benefits of global investment are felt in every part of the UK. I am delighted to be able to announce that Warwickshire, Leicestershire and Worcestershire have all been successful in their bids.
My international economic department is very much looking forward to working with local partners, including the Local Enterprise Partnerships, on securing the right investment for these exciting opportunities.
DIT works directly with companies in 60 countries around the world. Last year, DIT supported 1,682 investment projects which created or safeguarded 81,206 jobs in the UK. Of this, 196 investment projects were supported across the Midlands, safeguarding 298 local jobs.
Whilst in Coventry, Dr Fox will also announce a second international trade summer school, to run in summer 2019. This follows the success of this year’s National Trade Academy Programme summer school. Applications will open in February 2019.
Finally, Dr Fox will award 9 Board of Trade Awards (BOFTAs), to Midlands companies for their excellence in international trade, demonstrating innovation, creativity and entrepreneurialism.
The BOFTA winners are:
- innovative clothing company worn by NASA astronauts - Armadillo Merino
- specialist international SEO knowledge provider - Hallam Internet
- medical firm Morningside Pharmaceuticals
- manufacturer of gripping aids the Active Hands Group
- health and beauty business Body Care Brand Development
- crime response service provider Arquebus Solutions
- incinerator manufacturer Addfield Environmental Systems
- forensic, cyber and criminal intelligence company Forensic Pathways
- additive technology firm Addmaster