Sunderland has been named as fourth best small European city for foreign direct investment (FDI) strategy, and eighth top Northern European city for FDI strategy in a study of the most promising investment locations in Europe.
The study, carried out by fDi magazine – a Financial Times publication – places the Wearside city higher than Cambridge, Reading, York and Peterborough and in the Top 10 Northern European cities it was ranked above Sheffield and Cambridge in the UK.
Sunderland City Council’s business investment team has worked closely with the private sector to encourage more capital investment and new jobs to the area, helping to secure 14,500 jobs and £2.5bn of capital investment to the city. Coun Paul Watson, leader of Sunderland city council, said: “Sunderland has the appetite, commitment and track record to ensure it makes things happen. Our pragmatic plan for growth has driven momentum, helped secure new business, and reinforced our determination to take a long-term view on inward investment.”