The review, which covers April 2020 to March 2021 paints an interesting picture of the local inward investment activity, unsurprisingly showing a significant reduction of new potential investment enquiries coming into the team in the period immediately following the first UK lockdown in March 2020, right through to the end of the year.
However, during the first three months of 2021, the team received 31 new enquiries – 65 per cent of the annual total.
This represents a significant increase and the report concludes that this, “…could be related to increased confidence in certain markets and the general ‘bounce-back’ that the economy is experiencing. It could also be that many of the projects delayed at the start of the pandemic have been re-ignited at the end of the financial year, as the UK roadmap out of lockdown has been clearer.”
Lorraine Baggs, head of investment at Invest in Nottingham said: “We saw a lot of live projects stall following the announcement of the first UK lockdown and many of these are now regaining momentum, which also mirrors the upturn in new enquiries that the team has been receiving.
“The really encouraging thing is that this trend is continuing as we move through 2021 and is giving us a healthy pipeline of potential inward investment into Nottingham.”
Invest in Nottingham provides free support for companies looking to grow or expand into Nottingham and Nottinghamshire, including identifying suitable premises, support with recruitment and accessing funding schemes. Since 2016, the team have supported projects that have created more than 4,500 jobs, contributing more than £200million to the local economy.
It is part of Marketing Nottingham, the place marketing organisation for Nottingham and Nottinghamshire.
Paul Southby, chairman of Marketing Nottingham, said: “Invest in Nottingham have been working hard behind the scenes throughout 2020 to promote Nottingham as the place to expand your business.
“It is great to see those efforts pay off with an influx of enquiries at the start of 2021 and continuing to come through at a high rate throughout the year.”
If you would like find more information on how to expand your business in Nottingham or Nottinghamshire, get in touch with the team via [email protected]
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