The UK – a springboard to your global growth
By investing in the UK, US companies can fulfill their international ambitions
THE BEST ENVIRONMENT FOR BUSINESS
2009 is a difficult year for economies around the world, but we have reasons to remain confident that the UK possesses a high level of resilience and is well positioned to emerge above its competitors in the new times ahead.
The UK is the number one recipient for inward investment into Europe and will remain a leading global investment destination due to it being a stable investment location and an open economy.
The UK continues to offer a unique combination of success, confidence, ambition, know-how, innovation, creativity and potential. Recognizing current realities, we believe that the UK continues to be a solid base and a springboard for global growth. According to the World Investment Report 2008, the UK attracted $1.347tn of stock FDI. Approximately a third of this is from US companies. Unlike most of its competitors, however, the UK isn’t just an investment destination – it is an investment multiplier that can boost the value of a company’s investment. Companies don’t just do business in the UK because they’re interested in the UK market, they also come here to take advantage of a prosperous economy, an international perspective and to become a global force.
Did you know?
- The UK boasts four of the six largest legal services firms in the world and 200 foreign legal services companies.
- Eight of the world’s top 10 largest management consulting firms (based on fee income) are from the UK.
WORLD-CLASS CREATIVITY AND INNOVATION
The UK is internationally acclaimed for creativity, innovation and invention. Its reputation acts as a magnet to attract the best of global creative talent and technological expertise, while work permit and visa requirements ensure that companies can recruit the highly-skilled staff that they need to remain competitive
Did you know?
- The UK is the most popular location in Europe for investment in pharmaceuticals and biotechnology R&D and for staging clinical trials.
- The UK has been awarded over 70 Nobel Prizes in scientific disciplines and it also has the top four universities in Europe.
- The UK is ranked as the best performer in the G8 leading economies per unit of R&D spend.
- The UK automotive design sector is widely acknowledged as a leader in product development.
GATEWAY OF INTERNATIONAL CONNECTIONS
The UK has formed many clusters of business services and technologies that are truly world class. For companies to grow, they need outstanding support networks and, as well as a large market and quality suppliers, the UK also offers global business leaders the opportunity to interact with the very best of their international peers.
In short, it is a global business culture that plugs companies into a vital international network of connections.
Did you know?
- Around 500 foreign firms are listed on the London Stock Exchange.
- The UK has the highest number of leading MBA courses in Europe.
- More than 27% of London’s population is made up of different ethnic groups, creating a diverse workforce with an abundance of employees speaking over 300 languages.
HOW UK TRADE & INVESTMENT CAN HELP
The UK government is fully committed to assisting US companies to set up or expand in the UK.
UK Trade & Investment is the government organization that helps overseas companies bring high-quality investment to the UK’s economy and UK-based firms to succeed in an increasingly global economy. Its range of expert services is tailored to the needs of individual business to maximize their international success.
UK Trade & Investment provides support and advice to investors at all stages of their business decision-making. It offers specialists throughout the UK and in British embassies and other diplomatic offices around the world.
UK Trade & Investment’s comprehensive range of services includes:
- Tailored client account management;
- In-depth information provision;
- Support from a new cadre of technology specialists;
- Support with exporting from the UK.
| UK TRADE & INVESTMENT HAS EIGHT LOCATIONS ACROSS THE US: |
| Boston |
| British Consulate-General, One Memorial Drive 15th Floor, Cambridge MA 02142 Tel: +1 617 245 4500 Fax: +1 617 621 0220 |
| Chicago |
| British Consulate-General, The Wrigley Building 400 N Michigan Avenue, Suite 1300, Chicago IL 60611 Tel: +1 312 970 3800 Fax: +1 312 970 3852 |
| Houston |
| British Consulate-General, Wells Fargo Plaza 1000 Louisiana, Suite 1900, Houston, Texas 77002 Tel: +1 713 659 6270 Fax: +1 713 659 7094 |
| Los Angeles |
| British Consulate-General, 11766 Wilshire Boulevard Suite 1200, Los Angeles, California 90025-6538 Tel: +1 310 481 0031 Fax: +1 310 481 2960 |
| Miami |
| British Consulate-General, 1001 Brickell Bay Drive Suite 2800, Miami, FL 33131 Tel: +1 305 374 3500 Fax: +1 305 374 8196 |
| New York |
| British Consulate-General 845 Third Avenue New York NY 10022 Tel: +1 212 745 0200 Fax: +1 212 745 3062 |
| San Francisco |
| British Consulate-General, Suite 850 1 Sansome Street, San Francisco, CA 94104 Tel: +1 415 617 1300 Fax:+1 415 434 2018 |
| Washington DC |
| British Embassy 3100 Massachusetts Avenue NW Washington DC 008 Tel: +1 202 588 6500 Fax: +1 202 588 7870 |
| For further information, visit: www.ukinvest.gov.uk |
Case study: Boeing
Boeing continues to invest in the UK through research and development collaborations with universities in Sheffield, Cambridge and Farnborough
Boeing has been in the UK for over 40 years and the UK remains a major market for the company’s commercial and defense businesses. Traditionally, the UK has been the biggest source of supply outside of its US base and historically Boeing has spent around US$2.5bn annually on various supply chain components. The company’s presence in the UK supports 30-40,000 jobs through a number of Boeing businesses and its subsidiaries, such as Aviall, Alteon, Jeppeson and Continental Data Graphics, as well as in the supply chain.
An important aspect of being in the UK for Boeing is its significant research and development programs and relationships with academic institutions. In the last few years, the company has worked with some of the leading British universities. It has conducted a number of research projects in the field of highly networked systems with Cambridge University; worked with Cranfield University to do research into an Integrated Vehicle Health Management system (IVHM), exploring new technologies for vehicle support and maintenance; and has jointly founded an Advanced Manufacturing Research Centre (AMRC) with Sheffield University, to explore ways to reduce the time and cost of producing aerospace products whilst improving their quality and performance. The AMRC has seen significant success since it was set up in 2005, and already a second research building has been constructed, and was opened by HRH, The Duke of York in 2008.
“The UK universities with which we do research are highly regarded around the world,” says Sir Roger Bone, President of Boeing UK. “They have a great reputation for expertise in the fields of aviation, aeronautics and aircraft development and there is a sound relationship between research and applications in the real world. Relatively few universities can do this well, but these British universities really excel at it.”
Success in Britain
Over the last three years, Boeing has made conscious efforts to strengthen its presence in the UK and position itself as an onshore company. As a foreign company with a secure onshore presence, Boeing is able to bid for substantial contracts with UK government institutions, such as the Ministry of Defence.
Nearly two years ago, Boeing opened a new facility near Bristol which marked the beginning of this strategy implementation. Currently employing more than 30 people, most of the work in Bristol is aligned with the Ministry of Defence, defense equipment and support, and last autumn Boeing won the Systems of System Integrator role for Britain’s Future Rapid Effect System (FRES). This facility is expected to grow. In addition, in collaboration with QinetiQ, Boeing has established the Portal, a new facility in Farnborough tasked with providing advanced modeling simulation and analysis through live and simulated environments.
Boeing expects to maintain its research profile here. “At present, our overall annual research budget for the UK is around US$25 million,” says Sir Roger Bone. “The bulk of this is for work with QinetiQ and the rest is spread amongst Boeing’s university collaborations. We are helping to advance many sectors in the UK, as the investment we have made in certain fields can now be applied to other industries. For instance, the work done in Cranfield with IVHM systems can be used in the automotive and medical sectors. We have also set up collaborative research with Formula One in its area of computational fluid dynamics, since there are synergies in aerodynamic research between racing cars and aeroplanes.”
Remaining committed
As with any company, Boeing is affected by global economic conditions.
In the commercial aviation market, changes in demand for air
travel and fluctuating fuel prices are felt by the company. Its business
in the defense sector is also affected, as government expenditure is
squeezed, but aircrafts such as Apache, Chinook and C-17 remain
operational requirements for national security.
Looking to the future, Boeing remains committed to the UK and to its current investments. Maintaining its contact with government organizations such as UK Trade & Investment is very important to the company.
“We value our ties with UK Trade & Investment enormously,” says Sir Roger Bone. “When we are looking to find a new research and development partner we actively seek its leadership and welcome its advice. We see how the UK, with the help of UK Trade & Investment, is constantly improving its promotion of UK advanced engineering capabilities abroad in a more sophisticated and sensitive approach that makes investing in the UK an enticing prospect.”
For more information, visit: www.boeing.com
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