New figures show that 2015/16 was the second best on record for inward investment, with Wales having attracted 96 new projects, Welsh Labour’s Economy Secretary Ken Skates has announced.
The latest provisional inward investment results for Wales also show that more than 6,000 jobs were created or safeguarded. The inward investment projects were from companies based in 23 countries around the world.
The provisional inward investment figures follow the Cabinet Secretary’s announcement last week that more than 40,000 jobs were supported by the Welsh Government in 2015/16 - 5.3% more jobs than in 2014-15. Recording breaking tourism figures also showed Wales attracted 10.45 million overnight visits from GB residents in 2015. This was 4.5% up on 2014 figures when the number of visitors exceeded 10 million for the first time.
Employment is now at a record high and has risen faster in Wales than any other part of the UK, while unemployment has fallen faster in Wales than anywhere else and is substantially below that in Scotland and the UK as whole.
New inward investment from high quality companies including Aston Martin and re-investment from global businesses like General Dynamics and Raytheon are creating a substantial number of new, highly skilled, well paid jobs and career opportunities in Wales. The value to the Welsh economy from these investments is at least £660m creating wider economic benefits, jobs and new business opportunities for Welsh companies through supply chains.