Somerset hosts international Investment Team
30 March 2010
A foreign investment team has been bowled over by the welcome – and investment opportunities – that Somerset provides.
Ahead of the scheduled formal business meeting, inward investment body Into Somerset invited the South West Regional Development Agency’s (SWRDA) officials from China, Japan and the United States to a low-key bowling evening.
The foreign direct investment team members are employed by SWRDA but are based in their designated countries to promote the South West region and act as mentors between potential inward investors and the South West regions.
After asking the SWRDA foreign direct investment team what it most wanted to cover during the next day’s business meeting, Into Somerset adapted its approach. The delegation, which included representatives from the British Embassy Tokyo, Chinese office of the Department for Business, Innovation & Skills and the Miami office of SWRDA, was invited to a presentation by key property development business Abbey Manor Capital Partners (AMCAP).
Gerard Tucker, Into Somerset's Inward Investment Manager, says, “Our meetings came at the end of the two-week tour and we considered that a skittles evening at a pub would be much more effective than a formal meeting in breaking down barriers and would be more fun. "At the next day's meeting, we chose to avoid taking them on yet another factory tour, but to hear a presentation by a developer, which they found very useful."
The SWRDA team was fully briefed on the merits of Somerset as an inward investment location.
Gerard says, "We have already developed better links and enjoyed a stronger dialogue than ever before. We wanted them to recognise that Somerset is a prime location for inward investment, especially as it is closer to London than many other South West counties."
As a result of the visit, Into Somerset promised to investigate providing extra help for relocating businesses, such as rent-free initial periods, guidance on planning regulations and more help with language interpretation.
The overseas SWRDA team said it would provide Into Somerset with more specific initial information about inward investment enquiries, such as more details about the location and specific skills.
AMCAP is the property development business of Yeovil's Abbey Manor Group, which has a range of property investment, serviced office and waste management business interests. At the presentation, it outlined the firm's two million sq. ft. business park developments and the affordability, high skill base and quality of life benefits of relocating trade and industry to Somerset.
Into Somerset promotes Somerset as the place where you and your business can grow. Somerset has the highest business start-up rate of any county outside London thanks to its excellent communications network, top UK broadband connectivity rates, quick access to London and the South East in less than two hours, a strong business support network and more.
Every year, 20,000 people, including many from in and around London, relocate to Somerset to enjoy its countryside, coast and clean air, short commute times and much more.