City more attractive to foreign investment

Newcastle was said to be 'well-placed to attract global capital and drive sustainable growth in the years ahead'

- GRAEME WHITFIELD

NEWCASTLE has increased its attractiveness to foreign direct investment over the past year, according to an influential survey.

The Investment Attractiveness Index, published by law firm Irwin Mitchell and the Centre for Economics and Business Research (Cebr), compares 48 UK cities in relation to their economic growth potential, skills and infrastructure.

The table ranks Newcastle 25th out 48 UK cities, the same place as its previous report.

However, it says that Newcastle has shown progress in its economic growth potential, where the city's score jumped by more than 10 points compared to last year. The report said that score reflected stronger forecasts for economic growth, new business creation and employment.