UKTI commenting on
the gateway to success
Andrew Cahn, Chief Executive of UK Trade & Investment ( UKTI ), looks at how the UK’s robust business environment, economic stability, and commitment to excellence in R&D continue to put it top of the list for US firms seeking to expand into Europe
The UK is consistently a favourite investment location for not just the US, but the world’s companies which is where UKTI comes in.
US firms also see a UK location as an ideal gateway to building success throughout an expanding Europe, as well as obtaining ready access to our domestic market. Over 9,000 US firms have already chosen to expand their businesses into the UK, with 621 new projects announced in the financial year 2008-9 alone.
For example, the Clipper Wind Blade Development Facility is a new investment in the North East of England. The 4,000 sq m facility on the Tyne River near Newcastle will employ more than 125 employees to develop and manufacture the world’s largest wind blades for Clipper Windpower’s Britannia Project, a 10-MW offshore wind turbine.
And looking to the 2012 Olympics, specializing in branding and design, SME Branding has 30 employees and was established 15 years ago. Interested in London 2012 marketing/branding activities, the co-founder of SME, Fred Popp, registered on the CompeteFor website in early 2009. UKTI New York instantly reached out to SME and, working with Think London, UKTI helped SME to open up its London office, assisted with banking requirements and visa issues.
Thousands of international businesses have been won over by the UK’s robust business environment, economic and political stability, and highly skilled and flexible workforce. The UK also has a much valued reputation as a cutting-edge pioneer in technology, design and creativity partnered by a commitment to excellence in research and development.
Around half of the US companies investing in Europe locate their continental headquarters in London. The UK capital is consistently voted by leading companies as Europe’s best city to set up a business. It is Europe’s largest international banking center, and has the world’s highest number of foreign banks.
Establishing a presence there, and in the UK’s other dynamic commercial centers, is uncomplicated and straightforward. While London is one of the UK’s business strongholds, there are many opportunities to match businesses’ specific needs for skills, services, infrastructure, technology and talent throughout the country.
The UK and UKTI has always created an investment climate that is capable of attracting individuals and companies at the leading edge of their sectors, and which can go on to achieve a wider global impact. Likewise, in R&D-intensive industries, companies are taking full advantage of the UK’s business environment.
While there are excellent examples of how new and innovative opportunities for investment and joint ventures can address the needs of the future, we at UKTI must not be complacent and should work to ensure that our partnership continues to go from strength to strength.
In my role in UKTI I have been very impressed by the work of BritishAmerican Business in the time I have been associated with it as a member of its International Advisory Board. BAB plays a pivotal and crucial role in promoting trade and investment between our two countries and in helping its member companies develop their international success.
With bases in New York and London, and with a network across more than 60 European and American commercial centers, it is the leading transatlantic business organization. As Chief Executive of UK Trade & Investment ( UKTI ), which helps overseas companies seeking to set up or expand in the UK, I will strive to make our invaluable economic transatlantic relationship continue to thrive in the years ahead.
Andrew Cahn, Chief Executive of UKTI
For more information on UKTI, visit:
Website: www.ukti.gov.uk
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