World News

The Latest World News

US investment for Birmingham

Birmingham has changed its drive for incoming investment from the Indian and Chinese states in favour of our old friend the United States in an attempt to recoup the ground they have lost over the past five years. The leader of the Birmingham council is one of the leading delegates for business and education officials who have traveled to Chicago this week they are due to attend a meeting with the chief executive of Kraft foods who are the regions biggest investor as they won their twelve billion dollar takeover of one of Britain’s longest established firms Cadbury.

Kraft during this time have been seen to create over one hundred jobs which have been used for research and developments at the Bournville site which has been changed to their leading research facility. The council members have traveled there in an attempt to confirm there will be no more job cuts as with the closure of the Cadbury factory in Somerdale which cost almost four hundred jobs the need for security from the American firm is needed more than ever. In addition to this reason the delegation are also hoping to strike a deal which will see in influx of investment opportunities from potential investors. Birmingham has always enjoyed a great relationship with Chicago over the years with the two cities being twinned many years ago and now with Kraft foods taking over Cadbury we are hoping to cement that relationship for many years to come. Birmingham’s investment plans hinge on delivering large investors to the region and with Kraft who one of Chicago’s largest companies investing we they are hoping to drill up lots more of investment over the next few months.

The chief executive of Business Birmingham confirms his belief that the recent re shuffling of the UK regional policy should enhance their chances of hitting more liquid targets. There has been a large amount of time and effort put in over the past five to ten years on cementing Birmingham’s place within the Chinese business world and also with the Indian side of things but if we look in reality it has mostly been north America who have been the most prolific investors in the area with over forty five percent of fresh investment coming from that region. The United States has been the largest investor in Birmingham for many years with over two billion pounds worth of investment since nineteen ninety three as well as over three hundred and fifty American companies who have employees of over sixty thousand being based within the city.

The delegation that has gone on the US visit consists of two university representatives as well as the chief executive of Birmingham airport. The Birmingham airport in recent days has secured planning permission to increase the size of their runways with officials from the city claiming the new extension will facilitate more non stop long distance flights from China and the United States. With the hope of generating new and fresh investment on their agenda the delegation faces an uphill struggle to raise a commitment and investment as with the state of the euro zone and British economy not being the best many experts will fail to see the benefit in placing their investments this side of the water.

More resources: