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Millions Roll Into Coventry

More than £155 million of investment came into Coventry last year, according to the organisation responsible for attracting money to the city.

Coventry Centre for Investment (CCfI) had aimed to bring £50 million to the city, but sailed beyond its targets.

The coffers were swelled by Parcelforce’s move to Baginton Airport, which brought £100 million in alone.

In total 23 companies decided to invest in the city.

Nearly 1,500 jobs were created by firms moving into the city, and various programmes to help companies modernise helped safeguard 1,013 positions.

Changes in counting the way jobs were saved meant CCfI failed to meet its target of 2,500.

Over 1,750 businesses were given some form of assistance in the period 1999-2000.

In a report to Cabinet Member (Development and Renewal) Cllr Dave Batten, Julie Morton said Coventry is getting a big name for itself all over the world.

She said:

“Work is continuing to raise the profile of Coventry locally, nationally and internationally which has led to bigger investment projects and increased activity.

“The securing of additional resources from the European Commission has also enabled CCfI to provided more improvement grants, particularly to manufacturing companies, thus encouraging economic growth and increased employment.

“Coventry has been consistently successful at attracting companies to the city since the mid 1980s.

“A further 23 companies completed their locations last year including Parcelforce at Baginton, which generated £100 million alone.”

CCfI has similar targets for the year ending in March 2001, including the creation, 1,500 jobs, saving 1,000 more, helping 1,500 businesses, getting 20 companies to invest at least £50 million in Coventry.

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CWN / Business / A-Z / Coventry Centre for Investment / 11 Sep 00

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