Record-breaking International Investment Summit secures £63 billion and nearly 38,000 jobs for the UK

Source: GOV.UK

• Total of £63 billion of private investment committed around International Investment Summit, more than doubling amount secured at 2023 Global Investment Summit
• New investments today include £6.3 billion in UK data centres as well as world class UK university Imperial College London
• Innovative investment projects announced over the last month across infrastructure, renewables and life sciences will create close to 38,000 new jobs across the UK

Nearly 38,000 UK jobs are set to be created across the UK after a total of £63 billion of investment was announced around today’s International Investment Summit, turbocharging growth and innovation across the country. 

The record-breaking total figure more than doubles the £29.5 billion committed at last year’s Global Investment Summit and spans partnerships across the infrastructure and tech sectors, including over a billion pounds in new investments announced today by DP World, Associated British Ports (ABP) and Imperial College London. 

Through serious, stable governance, the UK is attracting tens of billions of pounds of new investment which is crucial to the government’s driving mission of delivering economic growth. Today’s historic figure demonstrates that businesses have confidence in Britain as a place to invest. 

The investments follow immediate action taken by the new government to reform planning, focus on AI and data centre expansion, and set a clear commitment to net zero by almost doubling the funding for renewable energy projects. 

Four major tech firms based in the US have today announced £6.3 billion in UK data centres which is critical to enhancing the UK’s AI capacity – in turn fuelling Britain’s economic growth and spurring on AI development. Data centres store the vast amount of information and data needed to power AI, and store the information generated by AI to keep the systems running. 

ABP, the UK’s largest port operator, has committed over £200 million to a joint investment with ferry company Stena Line in a new freight ferry terminal at the Port of Immingham, significantly boosting the capacity and resilience of UK trade with Europe. It is expected to create around 700 jobs during construction and around 200 permanent jobs once operational. 

Leading UK university Imperial College London is also today announcing a £150 million investment to secure a new R&D campus to add to its rapidly expanding deep tech ecosystem in West London. The new campus will expand scale-up capacity in the WestTech Corridor, supporting the UK’s innovation sector and driving investment, economic growth and job creation. 

Business and Trade Secretary Jonathan Reynolds said:

Global investors should be in no doubt that under this new government Britain is truly the best place to do business. The record-breaking investment total secured at today’s Summit marks a major vote of confidence in the UK and our stability dividend across industry and innovation.

We’re determined to deliver economic growth in every part of the UK and these investments, together with our forthcoming Industrial Strategy, will give global businesses the certainty they need as we lead the charge for the innovation and jobs of the future.

Chancellor of the Exchequer Rachel Reeves said:

After the investments secured as part of this summit, my optimism for Britain burns brighter than ever. It’s a sign of the confidence in the British economy. And it matters because it will support the growth of businesses big and small across the U.K. Helping them create new jobs and making people better off.

CEO of ABP Henrik L. Pedersen said:

We are delighted that the Development Consent Order (DCO) for the Immingham Eastern Ro-Ro Terminal (IERRT) has been granted in a timely way by the Secretary of State to allow us to move forward with investment. The IERRT project is a key component of our strategy to strengthen the UK’s supply chains and improve trade connectivity, whilst also bringing substantial economic benefits including the creation of hundreds of jobs during construction and ongoing operations. IERRT forms part of the intended £5.5bn pipeline of UK investment we have in front of us over the next 10 years and we look forward to working closely with the Government to deliver the right conditions to realise this investment.

President of Imperial College London Hugh Brady said:

Imperial College London is investing in its ambitious vision for a new globally competitive deep tech innovation ecosystem in West London. The Imperial WestTech Corridor will act as a powerful engine for investment, inclusive economic growth, and job creation at a local, regional, and national level supported by the Government’s emerging Industrial Strategy.