British American Trade & Investment 2016/17

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British American Trade & Investment The Guide to Investing in the U.K.

2016/17

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U.K. REGIONS

PRACTICAL ADVICE

WELCOME

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LONDON 12 Phillimore Walk, London W8 7RX Tel: +44 (0) 207 290 9888 Email: ukinfo@babinc.org Twitter: @BABLondon

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To view this publication online, visit: tradeinvest.babinc.org/britam

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British American Trade & Investment is published by BritishAmerican Business (BAB), an organization formed in 2000 through the merger of the American Chamber of Commerce (U.K.) and the British American Chamber of Commerce (U.S.). BAB comprises the London and New York chapters of the British-American Business Council (BABC); is the U.K. member of the European Council of American Chambers of Commerce (AmCham E.U.) and secretariat for the U.K. All Party Parliamentary Group on E.U.-U.S. Trade & Investment

NEW YORK 52 Vanderbilt Avenue, 20th Floor, New York, NY 10017 Tel: +1 212-661-4060 Email: nyinfo@babinc.org Twitter: @BABNewYork

Website: tradeinvest.babinc.org For editorial or advertising enquiries, please contact policy@babinc.org

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Editor: Brian Mawdsley Design and Artwork: www.searsdavies.com Print: www.colourview.co.uk British American Trade & Investment Š Copyright This publication is printed using vegetable-based inks and the paper is sourced via forests of origin that are managed to the highest social and environmental standards.

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No part of this publication may be reproduced in any form or by any means without the permission of BritishAmerican Business. Written permission must be obtained before any part is stored in a retrieval system.

The opinions expressed in the publication are not necessarily those of BritishAmerican Business who has endeavored to ensure all information is accurate, but cannot take responsibility for any mistakes or omissions.

BritishAmerican Business does not accept responsibility for the advertising content of this publication.

WELCOME

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CONTENTS

Contents 07 - 13 Forewords 07

Welcome to British American Trade & Investment 2016/17 Nicholas Walsh Chairman, BritishAmerican Business

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Lord Price Minister of State for Trade and Investment

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Sir Kim Darroch H.M. Ambassador to the United States

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Matthew Barzun U.S. Ambassador to the United Kingdom

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John Simmons Minister Counselor for Commercial Affairs, U.S. Embassy in London

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Danny Lopez British Consul General in New York and Director General,

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UK Trade & Investment USA

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UK Trade & Investment – Accelerating Your International Expansion

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U.K. Economic Outlook – U.K. Growth Outlook to Remain Resilient

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14 - 51 Practical advice

by Charlotte Dendy, Economist, CBI 20

Banking – Risk, Returns, and Reliable Ratios by Philippa Kelly and Iain Coke, Financial Services Faculty, ICAEW

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Labor Law – The Gender Pay Gap by Caroline Noblet, Global Co-Head of Labor & Employment at Squire Patton Boggs

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Aerospace – The Farnborough Airshow – a Showpiece of

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Automotive – Innovation in the U.K. Automotive Industry

by Mike Hawes, Chief Executive, SMMT

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Life Sciences – The U.K. Biotechnology Sector: a Hotbed for Innovation by Steve Bates, CEO UK BioIndustry Association (BIA)

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Science Parks – The U.K.’s Innovation Powerhouse by Jim Duvall,

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Aerospace Innovation by Paul Everitt, Chief Executive, ADS Group

Membership Manager, United Kingdom Science Park Association 34

Tech Transfer – Supporting the “Special Relationship” Between Research and Industry by Tamsin Mann, Policy Officer, PraxisUnico

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Agri-Tech – U.K. Agri-Tech Research and Innovation

by Dr Adam Staines, Head of Strategy, BBSRC

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Creative Industries – Ministerial Comment – and the Digital Economy

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Creative Industries – #CreateUK: From Shakespeare to Deepmind

by Caroline Norbury, MBE, Chief Executive, Creative England

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Fashion – The British Fashion Industry by Caroline Rush CBE,

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U.K.’s Creative Industries by Ed Vaizey MP, Minister for Culture

Chief Executive, the British Fashion Council 44

Offshore Renewable Energy – Offshore Renewable Energy – the U.K. Opportunity, Comment from the Offshore Renewable Energy Catapult

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Logistics – Sea, Air and Land – the Logistics Industry in the U.K.

by Robert Keen, Director General of the British International Freight Association (BIFA) Education – The World as a Classroom by Mary Mitchell, Associate Director of Marketing and Communications at TASIS The American School in England

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THINK LEEDS CITY REGION INVEST IN THE UK’S LARGEST CITY REGION ECONOMY OUTSIDE LONDON

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An economic powerhouse with global reach, Leeds City Region offers exceptional opportunities for growth across multiple business sectors.

INVESTLEEDSCITYREGION.COM @LEEDSCITYREGION

*Source: With a GVA of £62.5bn, Leeds City Region is the largest city region economy outside London and the South East. ONS, 2015.

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Wales

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Northern Ireland

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Map and Details of the Enterprise Zones

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Map of the Local Enterprise Partnership Regions

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Headline Statistics for Regions

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Northern Powerhouse – Ministerial Comment –

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52 - 95 Regions

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The Northern Powerhouse: A Destination of Choice for Investors From Around the World by James Wharton MP, Parliamentary Under Secretary of State Northern Powerhouse – Transport for the North Improved Transport Links by David Brown, Chief Executive Officer, Transport for the North 70

Yorkshire and The Humber

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Yorkshire & Humber – Leeds City Region – Invest in Leeds City Region Today and Be Part of Tomorrow Northeast England

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Northwest England

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London: World Capital of Business

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Southeast England

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Eastern England

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Southwest England

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West Midlands

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East Midlands

96 - 112 How we can help 96

BritishAmerican Business: The Company to Keep

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Using the British-American Business Council (BABC)

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to Build your Transatlantic Business

by Jeffries Briginshaw, Chief Executive, BABC 99

BABC contact details in the U.S.

100 Map of BABC Offices and British Consulates in the U.S.

103 Organization Index 112 Useful Websites

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102 BABC contact details in the U.K.

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LOCAL CONNECTIONS GLOBAL INFLUENCE With a global footprint, we can service your labor and employment advice needs wherever your operations may be, and whatever your line of business. Our lawyers can help you to steer a safe course through the issues, from the smallest day-to-day local queries to the largest international restructurings, negotiations and disputes.

45 Offices in 21 Countries squirepattonboggs.com

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By Nicholas Walsh, Chairman, BritishAmerican Business and Senior Advisor to AIG I’d like to welcome you to the 2016/17 edition of British American Trade & Investment, the BritishAmerican Business (BAB) guide to investing in the United Kingdom. This is our 16th year of publication since our formation back in 2000 when we merged the American Chamber of Commerce (U.K.) with the British-American Chamber of Commerce (U.S.) and, in doing so, created the pre-eminent transatlantic organization.

The U.K. has always proved to be the location of choice for many Europe-bound American companies. This country has, after all, a lot to offer. A growing economy, the lowest rate of corporation tax in the G7 and G20, a vibrant, innovative work ethic and we share the same language.

With such advantages, many U.S. companies have established their European headquarters in the U.K. The impending U.K. referendum on whether Britain should stay in or leave the EU, Brexit as it has become known, is taking place on June 23rd. Drawing on its advantageous position as a U.S. centric representative body for Transatlantic business in the U.K., British American Business is acting as a resource to our members and the broader business public in helping them to understand and navigate the risks and opportunities that come with the referendum. In March 2016 BAB asked its member companies in London and New York to complete a survey on their attitude to the EU Referendum. The result was an overwhelming “stay”, with 95% of those who replied stating that they wish to see the U.K. remain in the EU. Interestingly, but perhaps not altogether surprisingly, 70% of them stated that if we leave the EU, then this would have a negative impact on future investments or business prospects in the U.K. See www.babinc.org for full survey results. The results of our membership survey underline the direct impact a U.K. outside of the EU would have for investment and operations in the U.K..

The U.K. recently welcomed United States President Obama for perhaps a final official visit during his administration, and he too was clear that the U.S. wants Britain to continue to represent a pragmatic outward looking voice at the top table inside the EU. He also talked up prospects for and his commitment to TTIP. We have continued to back the benefits that a comprehensive EU/U.S. trade and investment partnership would have on both our economies. Worryingly, the President also suggested that the path to a future bilateral trade deal with the U.S. might be a long one in the event that the U.K. were to vote to exit the EU. We are working hard to deliver a fresh style for our communications and advocacy work and recently launched our first manifesto for transatlantic business picking up on specific areas of interest to our membership on the U.K. policy agenda, and we participate regularly in bilateral meetings with U.K., EU, and U.S. government officials. Recently we have seen the launches of our TTIP ‘business grassroots’ roadshow reports in both London and Brussels.

With BritishAmerican Business becoming more-and-more involved in the dissemination of information within the Transatlantic business world, then so the need to expand this information to a wider U.S./U.K. readership becomes paramount.

BAB forms the London and New York chapters of a larger umbrella organization, the British-American Business Council (BABC) which comprises 18 North American chapters and four British.

To expand our joint and individual messages, both BAB and the BABC have completely revamped our websites.

Visit us at www.babinc.org and at www.babc.org Finally, I would just like to mention that this edition of British American Trade & Investment is the last of our trade and investment reports to be edited by Brian Mawdsley, as he heads for retirement in May. Having had the responsibility of producing these reports for the last 15 years, he has asked me to thank all those authors who have given of their time and knowledge, and made these reports a valuable source of information to the Transatlantic business and economic development community. Please do join me in thanking and congratulating Brian for sterling efforts!

I hope that you enjoy this guide and please remember, that BAB is a membership organization that has business interests at heart, both in the U.S. and the U.K. So look into the membership options available with BAB in New York or London, or with the BABC chapter that is local to you.

May I pass on my very best wishes for your future business endeavors.

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Welcome to British American Trade & Investment 2016/17

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LONDON WORLD CAPITAL OF BUSINESS

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On a recent trade visit to Washington I met with representatives of the U.S. business community. These companies varied across size, specialty, and sector but were united on one key issue: their hunger to do business with, and from, the U.K. So I’m delighted to support British American Trade & Investment 2016/17 and to reaffirm the U.K. Government’s commitment to supporting U.S. companies to invest in Britain.

70 years ago Winston Churchill coined the phrase ‘special relationship’ to describe the U.K.-U.S. partnership. This partnership is built on a shared history, close friendship, political links and deep commercial ties. Nearly $1 trillion worth of mutual investment makes us each other’s largest investor, and each other’s largest foreign job creator. The U.S. is the U.K.’s largest single trading partner and is the destination for 17% of all U.K. exports. And we’re the single most popular destination for U.S. overseas investment.

We welcome your business – and we want more of it. So we’re making the U.K. the most open, welcoming and business friendly country in the world. I’m pleased to say our work is paying off. We are the number one destination for Foreign Direct Investment (FDI) in Europe. The 2015 World Bank Ease of Doing Business report places the U.K. 6th out of 189 countries and we’re perceived as the most attractive market in Europe for inward investment1.

With our economy set to become the largest in Europe by 2030, the future looks bright for the U.K. But we know there is huge opportunity for greater U.K.-U.S. collaboration, so we’re ramping up our offer to investors. We’re cutting red tape; offering a visa system that welcomes skilled workers, students, entrepreneurs and investors; and introducing a new Apprenticeship Levy that will ensure that business invests in skills and training. Through the Northern Powerhouse and the Midlands Engine we’re creating opportunities for investors across the U.K. Our corporation tax of 20% is the lowest in the G7, and is set to be further reduced to 17% by 2020.

We know that U.S. companies are also looking to emerging markets. By investing in us, not only do you have access to 64 million U.K. consumers, we are also a gateway to the EU’s 500 million customers, as well as to markets across the world. Where else can you do business with Asia in the morning and the U.S. in the afternoon?

To support U.K.-based businesses overseas, we’re making it easier, faster and simpler to start exporting; generating a more vibrant export support marketplace; and giving more financial support to exporters. By basing your company in the U.K., you can access support including opportunities to participate in trade missions and fairs, GREAT marketing and events, and access to on-demand export opportunities.

We know that an ambitious TTIP agreement will enable greater transatlantic trade. So we are working to ensure the U.K. and the U.S. use this once in a generation opportunity to create global standards on trade. A successful TTIP is expected to boost the U.S. economy by $125 billion and the U.K. economy by as much as £10bn each year.

But Government cannot achieve prosperity without the support of our commercial partners. I thank BritishAmerican Business and its members for all you do to support U.K. and U.S. businesses. I look forward to working to build the U.K.-U.S. partnership and to drive jobs, growth and opportunity for our citizens.

The U.K. is open for business.

1 The EY 2015 UK Attractiveness Survey

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The Lord Price CVO, Minister of State for Trade and Investment

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Sir Kim Darroch, H.M. Ambassador to the United States

In 1946, Winston Churchill gave a speech that would alter the course of modern history.

Standing at Westminster College in Fulton, Missouri, Churchill gave name to a relationship that had served as bedrock of freedom through two world wars: the “special relationship”.

Together, we have stood as pillars of democracy. We do more together than any other bilateral relationship in the world – from security and diplomacy to education and entertainment.

Today, 70 years later, the special relationship is stronger than ever. And nowhere is that more apparent than in our exceptional trade and investment relationship with the U.S. Our trillion dollar investment in each other’s economies supports a million jobs on each side of the Atlantic and make ours the world’s largest bilateral investment relationship.

And it’s paying off. Our trade relationship is now worth over $200bn a year. But there’s more we can do.

Like economies across the globe, the U.K. had a tough time after the financial crisis. Prime Minister David Cameron and his government had to make hard decisions to put our economy back on track.

But those decisions have paid off.

Today, we have an excellent story to tell.

The U.K. is forecast to be the fastest growing major advanced economy in 2016. Last year, it was one of the two fastest, alongside the U.S. The deficit has been halved and employment is at the highest level on record.

We’re making further cuts to the corporate tax rate from a high of 28% in 2010 to 17% in 2020, the lowest rate in the G7 and the G20. All part of our efforts to make the U.K. the best country in which to invest and with which do business.

What’s in store for 2016?

On June 23rd, the U.K. will hold a referendum on EU membership. The Prime Minister has been clear that Britain is safer, stronger, and better off inside the EU. As he has said, “Our special status in Europe gives us the best of both worlds”.

Trade and competitiveness is an important part of that debate. EU-U.S. trade alone supports 13 million jobs and nearly $4 trillion in investment, and represents nearly half of global GDP. But doing business across borders isn’t always easy. We want to break down barriers and build bridges to more free and open trade.

We’ll continue to work towards an ambitious TTIP agreement, which could create around 750,000 American jobs and bring $125 billion to the U.S. economy. And we’ll continue to support the companies that are at the heart of the transatlantic trade and investment relationship.

The work that BritishAmerican Business does is key to the special relationship. I know that you will all have your own success stories to tell.

As I get to know this great country, I’m looking forward to hearing them. Together, we can ensure our nations remain as strong and prosperous as ever.

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As Sir Kim mentions in his foreword across the page, this year marks the 70th anniversary of Winston Churchill coining the phrase “Special Relationship” to describe the bond between the U.S. and U.K. The relationship itself is far older still, built up by generation upon generation of common ties, be they cultural or commercial, educational or economic.

That closeness is a major part of our transatlantic business success and we are right to celebrate it. But another key ingredient, although less acclaimed, is our good-faith competition. Our commonalities give us trust, ease of communication, and much more, but the space between us within that system gives us our dynamism. The power comes from having both. One chapter from our common history of innovation and entrepreneurship sheds light on what I mean.

As I travel around the U.K., listening to and learning from British students who hold the next 70 years of the Special Relationship in their hands, I like to raise this point by asking them who invented the incandescent lightbulb. Probably because I am American they normally, dutifully, guess Thomas Edison. Actually it was not.

Instead we must thank Joseph Swan, a British inventor from Sunderland, who was the first to illuminate a building with electric light. A slight problem was that his patent came later than Edison’s and for a time Edison sued Swan, claiming infringement. This is not the first time there has been some disagreement between our two countries, but the good news is that they worked things out and eventually joined forces to create the Edi-Swan company around Swan’s design, a commercial success that literally lit up our lives.

The ingredients of that story – the exchange of ideas and investment, healthy markets and healthy competition, our shared framework of an effective rule of law and intellectual property protection, opportunity, innovation, creativity – they all persist to this day. They underpin the continuing health of our business relationships and mean that companies from both sides of the Atlantic can find great opportunities for mutual advantage.

Right now serious debates are taking place that will no doubt play a role in shaping these relationships in the years to come, not least on Britain’s position within Europe and the negotiations over the Transatlantic Trade and Investment Partnership. Unlike those early lightbulbs, it is important that these discussions generate more light than heat and BritishAmerican Business (BAB) continues to play a crucial role.

By developing the network of relationships on both sides of the Atlantic, by fostering communication between business and government, BAB is playing its part to further strengthen the understanding that underpins our unique trade and investment cooperation. As we all continue to innovate and work closely together, in the spirit of Edi-Swan, we can be sure the future remains bright.

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Matthew Barzun, U.S. Ambassador to the United Kingdom

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John Simmons, Minister Counselor for Commercial Affairs, U.S. Embassy, London

The bilateral commercial relationship between the United States and the United Kingdom continues to support a substantial number of jobs and investment in each country. In 2015, our bilateral trade in goods and services exceeded $225 billion. Our goods trade alone increased by over five percent last year; a significant achievement in a year in which the U.S. saw trade volumes decline with most of our top trade partners.

Bilateral investment flows remain especially impressive, with cumulative U.S.-U.K. investments exceeding $1 trillion and generating nearly 2 million jobs. U.K. investment in the United States supports at least 1,000 jobs in each and every of our 50 U.S. states.

American investment in the U.K., combined with U.S. purchases of U.K. exports, is estimated to account for one in twenty British jobs. In support of continued investment activities between the U.S. and U.K., this June the third SelectUSA Summit, featuring President Obama, will be held in Washington. We expect, and are encouraging, another strong U.K. presence at this year’s summit, with details of the program available at http://selectusasummit.us Beyond trade and investment, the vibrancy of the relationship is also seen in the tourism sector. Last year our countries exchanged over seven million travelers, who generated almost $25 billion in economic activity. An additional 50,000 American and British students study at each other’s universities.

While our bilateral ties are robust, we seek to expand our commercial engagement with the U.K. – and with all European Union members – by concluding negotiations on the Transatlantic Trade and Investment Partnership (TTIP) agreement this year.

We are hopeful that TTIP will enhance the importance of Europe as a market for U.S. companies and the United Kingdom as a gateway into that market.

In each of the major elements of our commercial relationship – investment, trade, services, and tourism – the U.S. Embassy in London seeks to aid American and U.K. business in support of expanded ties. In doing so, we look to BritishAmerican Business as a valued partner in these critical endeavors.

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At the end of my five years in the U.S. as British Consul General in New York and Director General of UK Trade & Investment USA, it is my honor to look back on a period of sustained growth and enduring closeness between our two countries.

The “special relationship” between the U.K. and the U.S. has been much vaunted since Winston Churchill first coined the phrase in 1946. 70 years later, that relationship is no less special. The U.S. is the U.K.’s single largest trading partner – trade between both countries exceeded $200 billion in 2014. And it goes both ways: investors from the U.S hold the largest share of U.K. FDI stock (27%).

Over the next four years, we are working hard for the U.K. to export $1 trillion of goods and services.

This target may seem ambitious. It is. And it will only be achieved if U.K. companies are successful in the U.S. Organizations like BritishAmerican Business and its members will continue to play an integral part in helping us reach this goal and guaranteeing our shared economic prosperity.

The U.K. doesn’t have one “magic” industry (let’s leave the wizardry to another favorite British export, Harry Potter...). Taking three very different examples of recent growth: in 2014, exports of Scottish salmon to the U.S. jumped nearly 40% to $310 million – thank goodness for brunch. 2015 also marked the best year for British car manufacturing in over a decade, as U.S. demand rose more than a quarter (26.5%) to become the U.K.’s leading export destination. And ahead of this year’s Academy Awards – which featured 40 British nominations across 20 categories – The New York Times proclaimed, “Oscar’s Heart May Be In Hollywood, But His Accent Is British.”

My colleagues in UKTI work hard every day to promote British goods and services abroad and encourage inward investment into the U.K. Every year, UKTI hosts hundreds of events in support of British companies looking to expand to the U.S. or American companies looking to grow in the U.K. Last year, we supported over 5,000 companies, and we helped U.K. firms win more than $1.28bn of business. Through this year’s “Exporting is GREAT” campaign, we have connected over 2,500 U.K. companies with opportunities in the U.S. market. Preliminary results suggest that in the U.S. we delivered in excess of 361 FDI successes this year. An outstanding result.

I have had the privilege of hosting numerous VIP visitors from government and the royal family during my time in New York. These visits provide an invaluable platform for British exporters to share their experiences, and for American investors to tell government ministers how Britain can remain the most attractive destination for foreign investment. Last year, we welcomed Prime Minister David Cameron to New York to celebrate companies investing in the Northern Powerhouse, demonstrating the government’s commitment to strengthening the regional economies in the U.K. alongside its own investment in infrastructure, including the HS2 (high-speed rail) project.

Fostering growth in the U.K. tech sector has been a particular passion of mine. Between 2010-2014, the U.K.’s digital tech industries grew 32% faster than the rest of the economy, with $232bn turnover in 2014. U.S.-based initiatives, such as the GREAT Tech Awards, have helped fuel this progress.

My successor, Antonia Romeo, assumes the mantle of British Consul General in New York and Director General of UK Trade & Investment in July 2016. Antonia will also remain the Government’s Special Envoy to U.S. technology companies, so I know that this tech growth – alongside increased prosperity in many other sectors – will continue to blossom under her leadership.

Let’s work together to continue and grow this special relationship. UKTI can help you take advantage of market opportunities, make important connections, and find global business success. We’re thrilled to continue our partnership with BritishAmerican Business and its members to make this possible.

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Danny Lopez, British Consul General in New York and Director General of UK Trade & Investment USA

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UKTI

PRACTICAL ADVICE

UK Trade & Investment – Accelerating Your International Expansion

For U.S. companies looking to expand their global footprint, the U.K. may offer the key. As one of the leading business locations in the world, the U.K. offers a rich and diverse market with world-class industries and a business friendly environment.

The U.K. offers an attractive location for businesses with easy access to customers, product innovators, suppliers and partners and maintains this leading position by creating a range of highly attractive conditions for business and investment.

The U.K. Government’s Plan for Growth drives coordinated action that seeks to create the most competitive tax system in the G20 and make the U.K. the best place in Europe to start, finance, and grow a business. The legal system supports and protects business interests. Meanwhile, cuts to bureaucracy are reducing burdens on business.

The U.K.’s proximity to Europe makes it a natural choice for investors coming from outside the European Union – and its capital, London, is the world’s leading financial center. (Source: Global Financial Centres Index)

HOW TO ACCESS THIS WORLD OF OPPORTUNITY? The U.K. Government provides a dedicated guide and adviser – UK Trade & Investment (UKTI). Think of UKTI as the official consultant for companies looking to establish or expand their presence in the U.K. Our role is to position your company for global success, from providing crucial information to giving the assistance you will need to make your transition as seamless as possible. Our industry specialists are here to help you build the relationships you need to establish or grow your business.

In short, UKTI is a fast- track solution for your global exploration: • Access market opportunities: We help U.S. companies quantify and assess market opportunities in the U.K. and Europe. Our experts can provide bespoke in-depth tailored factual reports, including market entry support, research and development collaborations, and cost analysis.

• Make the right introductions: Whether it is helping you establish relationships with industry and professional services leaders, access Government or uncover R&D opportunities, we have the high-level contact vital to your business.

UK TRADE & INVESTMENT | U.S. NETWORK MAP

UKTI in the U.S. has 131 experts with trade & investment teams located in our New York headquarters, the British Embassy in Washington DC and seven other British Consulates (General) around the United States

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SUPPORT FOR U.S. INVESTORS

UK TRADE & INVESTMENT HAS NINE LOCATIONS ACROSS THE U.S. Houston British Consulate General Leah Mayo Wells Fargo Plaza 1000 Louisiana Street Suite 1900 Houston, TX 77002 Tel: +1 713-659-6270

Boston British Consulate General Kirsten Chambers One Broadway Cambridge, MA 02142 Tel: +1 617-245-4500

Los Angeles British Consulate General Carlo Cavagna 2029 Century Park East Suite 1350 Los Angeles, CA 90067 Tel: +1 310-789-0031

Chicago British Consulate General Rob McNeill 625 N Michigan Avenue Suite 2200 Chicago, IL 60611 Tel: +1 312-970-3800

Miami British Consulate General Rebecca Mowat 1001 Brickell Bay Drive Miami, FL 33131 Tel: +1 305-400-6400

• Get up and running in the U.K.: The logistics and legalities of opening an office can be daunting. We can help you find what you need, where your need it, and meet tax laws and regulations.

• Find the best market location: The appropriate resources, marketing and talent for a U.K. business are not always in London. Our regional experts can help you analyze your opportunity and give practical help with site selection through visits to locations and premises.

• Ongoing Government support: Our teams in the U.S. and U.K. will continue to support your business once established in the U.K., providing assistance on expansion, including exporting from the U.K. and representing your interests in government.

• Hire the right talent: Finding the right people locally can be as involved as relocating your existing staff. We can help identify the talent you need and advise you on the U.K. immigration system, how it works and the different visa categories.

• Tailored assistance for entrepreneurs: We assist entrepreneurs through a network of mentors with the insight and experience to help make a commercial success of early-stage companies.

FOR U.K. COMPANIES LOOKING TO EXPLORE THE U.S. U.K. companies have a strong track record of success in the U.S. – it is our largest single market and the leading destination for British overseas investment. Given its sheer size and diversity, the U.S. often acts as a series of smaller markets, offering huge commercial opportunities to savvy exporters.

For companies looking to take advantage, UKTI can help you identify and seize your U.S. opportunity. We know the local business environment and offer a seamless one-stop service

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New York British Consulate General Fiona MacLeod 845 Third Avenue New York, NY 10022 Tel: +1 212-745-0200 San Francisco British Consulate General Jaclyn Mason 1 Sansome Street Suite 850 San Francisco, CA 94104 Tel: +1 415-617-1300 Washington DC British Embassy Melinda Goforth 3100 Massachusetts Avenue NW Washington DC 20008 Tel: +1 202-588-6500

Website: gov.uk/ukti

to guide you through your export journey, from carrying out subsidized research to connecting you to the right people.

From our nine key locations across the country, the UKTI USA team is dedicated to providing U.K. businesses with advice and support to help you achieve your export goals, and offers the following services: OVERSEAS MARKET INTRODUCTION SERVICE (OMIS) UKTI’s exclusive in-market consultancy service for U.K. companies, provides a wealth of practical support to guide you through your U.S. journey, from pre-visit research to in-market expansion. Subsidised by the U.K. Government, our tailored service can help you access market and industry information, identify potential contacts or assist in planning an event. Helping your business to grow further, faster!

PRE-VISIT RESEARCH AND REPORTS Accessing accurate and up-to-date market information is crucial to the success of your product or service in the U.S. UKTI offers a range of specialist research services.

ADDITIONAL SERVICES Once established, UKTI can also help you grow your presence in the U.S. To find out how you can commission our teams and for more information contact: Researchusa@mobile.ukti.gov.uk

PRACTICAL ADVICE

Atlanta British Consulate General Rebecca Mowat Georgia Pacific Center Suite 3400 133 Peachtree Street, NE Atlanta, GA 30303 Tel: +1 404-954-7700

UK ECONOMIC OUTLOOK

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U.K. ECONOMIC OUTLOOK

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U.K. Growth Outlook to Remain Resilient Amidst a Number of Downside Risks

By Charlotte Dendy, Economist, CBI (Confederation of British Industry) U.K. GROWTH SAW A SOFTENING IN MOMENTUM IN 2015

The U.K. grew at a solid pace over 2015 with the composition of growth similar to that seen in 2014 – driven by domestic demand with a negligible contribution to net trade. Private consumption has remained stable underpinned by strong gains in real incomes. Business investment has been resilient despite the decline in total capital spending, which has been dragged down by lower investment in housing. Some business sectors have also been particularly affected by the weaker global backdrop, notably those exposed to lower commodity prices.

With growth underpinned by domestic demand, the service sector contributed the most to the expansion of the U.K. economy last year. Service sector gross value added rose by 2.7% over 2015. Accommodation and food, the distribution sector (including motor vehicles), transport and communication, and administrative services added the most to U.K. growth from the service sector. Business services – covering the U.K.’s army of lawyers, accountants, researchers, and other professionals – had another good year. The U.K.’s substantial finance sector also recorded its first measured increase in output since the financial crisis, although this was offset by a dip in output in the insurance sector. Conditions in financial services have become more challenging in recent months, amid global market volatility. The CBI/PwC Financial Services Sector survey for March 2015 showed the first deterioration in sentiment amongst financial services firms since 2012. Although we should not draw too many conclusions from one survey, this is certainly something to keep an eye on.

By contrast, the production and construction sectors dragged on overall output. The offshore and manufacturing sectors have been negatively affected by lower oil prices and the slump in emerging market growth. Parts of the supply chain have been hit as a result of these recent issues.

The steel industry has been particularly affected by global developments: in a situation of substantial overcapacity at the global level it is clear that U.K. steel producers face major challenges to stay competitive. It also highlights the

12mth% unless otherwise stated

2015

2016

2017

Real GDP

2.2

2.3

2.1

Household consumption

2.9

2.7

1.8

Fixed investment

4.2

4.7

4.1

Government consumption

1.7

0.9

0.6

Exports

5.4

2.4

4.1

Imports

6.1

3.7

3.3

CPI inflation

0.0

0.8

2.0

Unemployment rate (%)

5.4

5.3

5.1

Public sector net borrowing (% of GDP)

4.2

3.3

2.2

Bank Rate (%) Q4

0.50

0.56

1.00

tradeinvest.babinc.org

PRACTICAL ADVICE

The U.K.’s economy slowed in 2015, with GDP growth moderating to 2.3% from 2.9% in 2014.

Growth was powered by domestic demand, with spending by U.K. households increasing at the fastest pace since the financial crisis. Solid employment growth, rising real incomes, and easy credit conditions suggest the prospects for consumer spending remain favorable. The global backdrop has become more challenging, however. Add to this the uncertainty generated by the U.K.’s referendum on EU membership in June, a continued slowing of emerging markets and volatility in financial markets and there is no shortage of risks to the economic outlook.

THE SERVICE SECTOR IS NOW CONTRIBUTING MORE TO GROWTH THAN EVER

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U.K. ECONOMIC OUTLOOK

CPI Inflation (y/y%)

Business’ Investment Intentions 3.0

2.5

2.0

Standard deviations from mean

2.0 1.5 1.0 0.5 0.0

0.0 -1.0 -2.0 -3.0 -4.0

2014

2015

2016

2017

-0.5

importance of developing a long-term industrial strategy, protecting research and development spending to help raise productivity and making energy costs more competitive.

PRACTICAL ADVICE

1.0

More generally, 2015 was a difficult year for U.K. manufacturers. Following a steady recovery during much of 2013-14, output began to slide at the start of last year. The contribution of manufacturing to 2015 growth was slightly negative, with demand from domestic consumers and businesses being offset by weak exports. The CBI’s Industrial Trends Surveys suggest that sterling’s appreciation against the euro during much of 2015 contributed to a weakening in export order books, although there were some tentative signs of stabilization towards the end of the year.

DOWNTURN IN THE CONSTRUCTION SECTOR Construction has been growing strongly since mid-2013 at an average rate of 5.1% y-o-y. However, output started its downturn in Q2 2015 where quarterly growth hovered just above zero and in Q3 it slumped to -1.6% q-o-q. In official data, construction is now classified as being in recession.

However there are a number of methodological issues with the official data, and other indicators are painting a much more positive picture of the sector – notably the construction PMI, which has pointed to rising output since mid-2013.

Corroborating this, our members also point to growth in construction output, particularly in consumer-facing areas such as private house building.

U.K. GROWTH TO REMAIN ROBUST IN THE FUTURE Despite slower momentum going into 2016, our broad view of the U.K. economic outlook remains unchanged, with expectations for resilient GDP growth backed by solid domestic demand. A healthy labor market, rising real wage growth, low oil prices and loose monetary policy should help to continue to deliver solid consumer spending into 2016.

Businesses investment intentions have been strong and our forecast sees this trend continuing in the near future, with the North Sea industry the key exception to this. The resilience of domestic demand is fueling stronger import growth and

“ U.K. economic outlook remains unchanged, with expectations for resilient GDP growth backed by solid domestic demand.”

-5.0

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Swathe of non-CBI measures of investment intentions

CBI investment intentions composite

therefore our forecast expects a larger drag in net trade this year. There is however great uncertainty in the face of this solid U.K. outlook with the upcoming EU referendum, a continued slowing of emerging markets and volatility in financial markets.

DOMESTIC DEMAND TO REMAIN RESILIENT The key driver of growth in 2015 was rising real household incomes underpinned by strong consumer confidence. Low inflation provided significant support and employment growth also made a big contribution. The story is likely to shift a little over the next two years: real income growth is projected to slow as employment growth weakens and inflation drifts upwards. But somewhat offsetting this, our forecast assumes that wage growth will edge up as the labor market tightens.

The labor market remains incredibly strong, with the unemployment rate falling to 5.1% at the end of 2015, its lowest level since 2006. However, surprisingly we have seen an easing in wage growth over recent months, contrary to widespread expectations of a pick up as the labor market continued to tighten. While low inflation means that pay is still growing strongly in real terms – growing by a huge 3.3% in 2015 – a further slowing in wage growth poses a downside risk to our forecast.

Some of the decline in average weekly wages could be explained by a fall in average hours worked. Low inflation may also be feeding through to pay awards and settlements, depressing pay growth. Existing employees may be more willing to accept lower pay awards in the face of low inflation as real incomes are still growing strongly. But CBI members continue to report numerous skills shortages, which all else being equal should cause employers to bid for relevant staff and put upward pressure on wages. One reason this effect may not be visible is strong demand for low skilled employment, which could actually be bearing down on aggregate pay growth – for example hiring lower skill sets or younger employees and training them up. This is backed up by our Service Sector and Industrial Trends surveys where consumer services and manufacturing intentions for training and re-training staff remain strong.

Although further weakness in wage growth would restrain consumer spending growth, we believe that on the whole, risks to pay growth seem skewed to the upside. We expect wage growth to pick up ahead as a result of a continually tightening labor market and a gradual recovery in productivity growth.

Additionally, the introduction of the National Living Wage (NLW) in April 2016 is an added upside pressure which is likely to push up wages in certain sectors such as hospitality, retail, and care.

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U.K. ECONOMIC OUTLOOK

“ The labor market remains incredibly strong, with the unemployment rate falling to 5.1% at the end of 2015, its lowest level since 2006.”

In 2015, household spending was concentrated in areas such as housing utilities and rentals, transport and recreation, and culture. More specifically households have been spending more on personal interests such as hobbies and games, audio visual equipment, and other recreational equipment.

Purchases of motor vehicles have increased significantly with domestic vehicle production rising sharply in recent months and new car registrations reaching a record of 2.6 million in 2015. With global headwinds rife, there is a need to take note of the sustainability of this domestic demand, based on the products that households are buying, with increased spending on luxury products rather than necessities.

Against the background of strong household demand, the outlook for business investment remains good. Investment in the oil sector will continue to be held back by persistent weakness in oil prices. But profitability in the non-oil sector continues to improve, with rates of return surpassing previous pre-downturn peaks. Firms’ cash holdings are near to record levels and credit availability is much improved. Although the global outlook has become more uncertain, CBI surveys show that investment intentions remain fairly firm (with the exception of manufacturing). In 2017, we expect fixed investment growth to slow, reflecting lower real incomes pushing down on housing investment and slower GDP growth taking some of the momentum out of business investment.

NET TRADE TO REMAIN THE MISSING INGREDIENT We do not expect a material contribution to the economy from net trade, continuing the theme of the recovery over the last few years. The depreciation in the pound since late 2015 will likely provide some relief to exporters ahead, but growth remains disappointing so far: while our industrial trends survey has shown a small improvement in manufacturers’ export order books, they are still only just in line with average levels.

Although we expect a pickup in export growth in the future, particularly in 2017, this is likely to be offset by strong import growth supported by robust domestic demand. Therefore we believe that the contribution from net trade will negligible.

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GLOBAL RISKS ARE RIFE Downside risks to the U.K.’s otherwise solid economic outlook have intensified. Perhaps the most immediate risk is that uncertainty ahead of the EU referendum delays plans for investment and expansion, tempering growth through the middle of the year. However, there is little sign of this happening so far, with investment intentions in both our surveys and others’ holding up well.

The U.K. also remains exposed to a number of global headwinds. Global growth momentum has weakened, as China’s economy continues to slow and the outlook for emerging markets has deteriorated. While the U.K.’s direct links with the emerging world are relatively small, a further worsening in that region could dent global growth further, weighing on the U.K.’s already weak trade position. However, we should not be too disheartened: even if China’s growth slows to 5% a year, this still adds the value of an economy the size of Belgium to the world economy.

Since the beginning of the year we have also seen volatility in financial markets – exacerbated by uncertainty over the health of the Chinese economy. Further market volatility (particularly with global risks so high), together with political uncertainty, could lead to lower confidence and negative wealth effects hitting business investment and spending.

BANK OF ENGLAND RATE RISE EXPECTATIONS PUSHED BACK These risks notwithstanding, the U.K. economy looks to be heading for a fourth year of solid growth in 2016. With the capacity gap closing, the Bank of England is focused on the path to interest rate normalization but unlike the Fed, it is in no hurry. Assuming an environment of low global commodity prices, weak domestic inflationary pressure and subdued wage growth, we think the Bank is unlikely to raise rates until late in 2016, with the risks skewed towards a delay. In particular, the MPC have pointed to the need to see a definitive pick up in wage growth/unit labor costs before considering a rate rise.

To mitigate the risks of keeping interest rates lower for longer, the Bank has signaled that it is actively considering more targeted measures to curb lending growth. Consumer credit and buy to let (BTL) mortgage lending growth has been picking up recently, growing in excess of nominal GDP growth.

Overall, however, the ratio of debt to GDP has fallen since the onset of the financial crisis, from around 175% to 140%.

To prevent risks from building, regulators have set out new guidelines on underwriting standards and affordability tests in the BTL mortgage market, while the government has increased taxes on investment properties. The Bank may consider further action in the BTL market later this year, if the housing market continues to strengthen. While credit growth in the U.K. is certainly something to keep an eye on, it is not a great cause for concern right now.

For further information visit www.cbi.org.uk or contact Charlotte Dendy, Economist, CBI at charlotte.dendy@cbi.org.uk

PRACTICAL ADVICE

Given the growing role of U.K. consumers in supporting growth, it is worth asking how vulnerable the household sector is to a shock. A sharp rebound back in oil prices would hit incomes – this is possible but seems unlikely in shortterm. Alternatively, employment growth could slow more sharply if employers expect more difficult conditions, or in response to NLW. Global developments or uncertainty related to the EU referendum also have the potential to generate greater economic uncertainty, causing consumers to rein in discretionary spending.

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20

BANKING

PRACTICAL ADVICE

Risk, Returns, and Reliable Ratios: How Can we Rebuild Our Trust in the Banking Industry?

By Philippa Kelly, Manager, Financial Services Assurance and Iain Coke, Head of Financial Services Faculty, Institute of Chartered Accountants in England & Wales (ICAEW) Banks did not hold enough capital at the start of the global financial crisis – there is broad agreement on this – and now must hold more.

But how confident can we be in how they calculate this?

If anyone wants to know what investors think about banks, they should compare banks’ share prices to the values on their balance sheets. This would show that, for many banks, the market values the whole of the bank at less than the sum of its individual assets and liabilities.

Banks on both sides of the Atlantic have yet to regain public trust after the global financial crisis and various conduct crises and policymakers, the public, regulators, and investors are not ready to forget what happened. They are much more risk aware, and also more focused on how much capital banks hold in case of future losses. Before the credit crunch, when considering bank performance, people focused on measures such as profitability, earnings per share and return on capital.

Now, the regulatory capital ratios are probably the most looked at measures, including by bank management who use them for business decision making. The international rules for bank capital have been strengthened – not only must banks now hold more capital, they are limited on how much leverage they can run and they face new rules on how much liquid assets, such as cash, they need to hold on to. These changes aim to make banks safer and better able to withstand economic shocks. Banks also now disclose a lot more information about their risks and capital calculations.

But some parts of the rules have not changed. Larger and more sophisticated banks are still able to build their own financial models to estimate the risks they face, their socalled risk-weighted assets calculations. But there is still no requirement for these calculations to be audited – either externally or even internally. In some jurisdictions, such as Switzerland and South Africa, regulators ask for auditors to perform some procedures on bank capital. But there is no international consistency on this and nowhere is there a requirement for a public audit report on capital ratios. This seems odd, given the importance now attached to capital ratios. So, in 2014, ICAEW was asked by Andrew Bailey, CEO of the U.K. Prudential Regulation Authority, to examine why this is and how an audit might support greater confidence.

Among the reasons given for not auditing capital ratios are the complexity and enormity of the calculations involved

and flexibility given to banks within the rules. There are good reasons for allowing banks to use their own models. They know their activities best and spend more time considering the risks relating to their business than anyone else. The simpler, standardized approach to calculating capital, where banks use formulae set by regulators, can distort behavior to artificially favor one type of lending over another, for example.

But if different banks use different models, then by definition they will not all come up with the same answers. There are good reasons for the rules allowing flexibility. An audit will not bring consistency where the rules allow inconsistency.

However, what it can do is look at how well the complex models are operating – are they doing what they are supposed to. The models themselves, once approved by the regulators, may operate in a bit of a black box. Even for senior management, it can be hard to identify if there are problems in their implementation, not to mention the fact that there are often judgments that are applied around the models which can be vulnerable to manipulation.

It is fair to say that our project, and discussion paper issued in mid-2015, was not universally popular among banks. If they had wanted to have an audit of their capital ratios, they could have voluntarily asked for one. They certainly did not want any requirement to be imposed upon them (which, in any case ICAEW would have no remit to do). However, there was also recognition that, for various reasons, it would be useful to develop some professional guidance to help internal or external auditors to provide assurance in this difficult area, as long as it was non-prescriptive and allowed banks flexibility

“The international rules for bank capital have been strengthened.

These changes aim to make banks safer and better able to withstand economic shocks” tradeinvest.babinc.org

BANKING

to commission audit work to suit their needs. We have also been encouraged and supported by banking regulators from various jurisdictions around the world.

Other factors are also changing views over the desirability of assurance over capital numbers. Various exercises by regulators highlighted just how wide the differences can be between banks’ internal model calculations for similar hypothetical assets. An audit does not resolve but at least can provide more confidence that banks are sticking to the models that have been approved by their regulators.

From an investor point of view, a private report from auditors to bank managers, directors or even regulators is not much help if the investor is not able to see it. However, it may be a step in the journey towards this. To be able to provide an audit, you need to have a trail of evidence that the auditor can examine after the fact, a bit like a trail of breadcrumbs that can take you from the start to the end of the process and back again.

Banks do not always structure their controls to provide such evidence after the fact. This does not necessarily mean that there is a problem, but no one said their controls here are currently as strong as those over the production of their financial statements, which are audited and subject to specific attestation and accountability requirements under the U.S. Sarbanes-Oxley Act. Assurance can be an important stimulus for examining and strengthening controls. The evidence auditors require to support their opinions can also be useful for managers and boards to better understand processes. So ICAEW is into the next phase of our project, to develop an exposure draft of guidance on how to provide assurance within these complex areas. We are working with banks, regulators, standard-setters and auditors to make this practical and usable for the types of assurance that users might like and aim to issue our exposure draft in the second half of 2016.

We do not think that an audit is a panacea to providing fully comparable bank capital ratios. But we do think it can help to strengthen the controls and governance over numbers that are seen as just as important as the profit and loss account. And no-one is calling for the audit requirements over those to be removed.

ICAEW is a world leading professional membership organization that promotes, develops, and supports more than 145,000 chartered accountants in 155 countries. It provides its members with knowledge and guidance, and ensures that ICAEW Chartered Accountants are meeting the highest ethical and technical standards. As financial experts they act in the public interest offering insights into business and the economy that help to shape government policy and regulation.

For more information, visit www.icaew.com

PRACTICAL ADVICE

Perhaps more importantly, with more focus on personal accountability within banks, with measures such as the U.K. Senior Managers Regime – and the added sanctions that accompany it – executives and non-executives themselves want more confidence that something is not going wrong on their watch. Banks are increasingly asking their internal audit teams and external audit firms to look at the processes around their risk-weighted assets calculations and capital ratios and provide assurance on these.

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22

LABOR LAW

The Gender Pay Gap

PRACTICAL ADVICE

By Caroline Noblet, Global Co-Head of Labor & Employment at Squire Patton Boggs In the first quarter of 2016, both the U.S. and U.K. Governments announced proposals for legislative reform on the issue of the gender pay gap. The question arises, should businesses be embracing these changes as an opportunity to evaluate their own pay practices, or be concerned about the burden of this new legislation, and which government’s approach will be more successful?

THE U.K. POSITION According to the U.K. government, the gender pay gap currently stands at 19.1%. Slow progress in closing this gap has led the Government to promise new legislation, in an attempt to accelerate equality across the U.K. business community.

Arguably the biggest change to labor law we will see in 2016, this legislation will affect an estimated 7,900 employers and 11.3 million employees. As of October 2016, employers will have until April 2018 to publish key data on their pay, marking a big step in the campaign for a truly level playing field.

However, this legislation has been widely criticized by both employers and campaigners for gender equality, albeit for very different reasons. Employers have pointed out that compliance will require a considerable amount of work, while unions and

employees are disappointed because the Regulations have no legal teeth – there is no penalty proposed for a failure to publish the pay information required. Much as with the Modern Slavery Act, some have argued that these Regulations represent a law which is neither effective or enforceable.

Instead, they hand over the rights and wrongs of the matter to be judged in the Court of Public Opinion, however well- or ill-informed that opinion may be.

Judgment by public opinion is unhelpful to stakeholders on both sides. There is a real danger that the sensationalism of catchy headlines will outweigh important legal arguments, which should be heard if any true progress is to be made in closing the U.K.’s gender pay gap. Although not as exciting or dramatic as a trial by media, legislation which showed some real and tangible penalties for non-compliance would ensure lasting change. A lack of clear penalties also runs the risk of misplaced accusations of guilt; it seems likely that some employers will have to get used to being accused of unlawful pay discrimination of which they are not necessarily guilty.

Under the proposals British employers will be required to publish certain key pieces of information on an annual basis: • The difference in mean and median pay between their male and female employees using a “snapshot” of data from a specific pay period every April.

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LABOR LAW

23

the Federal Government with certain information about their employees, broken down by race, gender, and ethnicity.

Unlike in the U.K., there is no option for noncompliance. The information will have to be reported across 10 job categories and by 12 pay bands.

The good news for U.S. employers is that the information provided to the EEOC, unlike in the U.K., will not be published in a format that will allow others to match pay gap information with a specific employer. Instead, agencies will be able to use the information to assess complaints of discrimination, focus agency investigations, and identify existing pay disparities that may warrant further examination. Any inequalities in pay may therefore prompt further investigation by the EEOC.

• The number of male and female employees in each quartile of their pay distribution.

Employers will be able to produce a narrative statement to accompany the data. As most (if not all) large employers will be reporting a gender pay gap of one size or another, this will give them a valuable opportunity to explain the causes of any such gap and, perhaps more importantly from the Government’s perspective, what action they intend to take to address this.

Both the narrative statement and the data will then have to be published on the company’s U.K. website for a period of at least three years. Companies will also have to upload the information to a government-sponsored website – where it potentially could be displayed as part of league tables.

THE U.S. POSITION In the U.S., it has always been clear that addressing gender pay has been high on the priority list for the Obama Administration. So much so, that the very first piece of legislation introduced by President Obama when he came into office was the Lilly Ledbetter Fair Pay Act of 2009. This law overturned the Supreme Court’s decision in Ledbetter v.

Goodyear Tire & Rubber Co., Inc., 550 U.S. 618 (2007), which restricted the time period for filing complaints of employment discrimination concerning compensation. The Ledbetter Act makes clear that each pay check that contains discriminatory compensation is a separate violation regardless of when the discrimination began.

However, even after the passing of the Ledbetter Act, questions remained about whether legislation in place is sufficient enough to reduce the gender pay gap. Therefore, in early 2016, President Obama revisited the Equal Pay frontier, announcing a proposed rule to expand the information required from employers regarding their pay practices. If approved, this new legislation will require employers to submit this additional information in September 2017.

This area falls under the EEOC, who, in the U.S., already require employers with 100 or more employees to provide

tradeinvest.babinc.org

The primary conclusion that can be drawn from an analysis of the approach to gender pay in the U.S. and the U.K., is that historically the two countries have taken a fundamentally different path in addressing the issue of a gender pay gap.

The Obama Administration has not insisted that employers publish their data publically, instead banking on the threat of investigation by the EEOC to ensure that employers comply.

Contrastingly, in the U.K., the government is looking to brand reputation, shareholder opinion and public pressure to act as an incentive for employers to comply and improve. Although both attempts will be largely welcomed by workforces, it remains to be seen whether a public or private approach will be more effective in ensuring higher rates of compliance and engagement going forwards. Regardless of which government’s plan employers may prefer, they will have to begin thinking now about what these developments mean for their business and how they can get themselves in the best position for when they first have to disclose their gender pay gap data.

To help senior HR professionals and in-house counsel make informed decisions about labor laws in the countries where they do business, Squire Patton Boggs, along with its global network of preferred specialist labor and employment lawyers, have developed Global Edge, a subscription based information portal that will save clients time and reduce legal costs relating to business as usual employment law questions. Covering 20 topics and 30 countries, Global Edge allows users to answer questions in just three clicks and provides up-to-date information and advice about countries and topics of choice.

To find out more about Global Edge, or to have a free demonstration, please email global.edge@squirepb.com

PRACTICAL ADVICE

• The difference in mean bonus payments made to male and female employees over a 12-month period and the proportion of male and female employees that received a bonus. The definition of bonus is wide and includes all profit share and long-term incentive payments as well as commission payments.

It is not only federal law that U.S. employers must consider, they should also be alive to the fact that, increasingly, state laws are also combating the gender pay gap. President Obama’s announcement on the proposed rule comes after several states, such as California and New York, adopted stricter equal pay laws in recent years.

24

AEROSPACE

The Farnborough Airshow – a Showpiece of Aerospace Innovation

PRACTICAL ADVICE

By Paul Everitt, Chief Executive, ADS Group In July 2016 the U.K. will host the Farnborough International Airshow. This biennial event represents the biggest world-wide gathering of representatives from the aerospace industry. A truly global show, there will be more than twenty international pavilions including the largest ever participation from the U.S. and China.

To put the Farnborough Airshow into perspective, the previous edition in 2014 saw $204bn worth of orders, it contributed over $50 million to the local economy and $81.5 million to the U.K. economy, and it remains the leading calendar milestone for the aerospace industry.

Farnborough is located in the County of Hampshire, around 40 minutes by rail from Central London. It has a long-held association with aviation. The first powered flight in Britain took off from Farnborough on October 5th, 1908, flown by U.S.-born Samuel Cody. The Iowa native was originally a Wild West showman before moving to the U.K. and touring with a shooting act, later becoming an early, and much celebrated, pioneer of manned flight.

Few other shows can match the Farnborough Airshow in terms of global attendance. It is diverse, exciting and hugely important for the industry, serving as a valuable shop window for the U.K. to demonstrate the breadth of our sectors as well as the scale of talent and ingenuity concentrated here.

A highlight for this year will be the F-35 Joint Strike Fighter making one of its first appearances outside of the U.S. The U.K. has been involved with the F-35 program since the turn of the millennium, a British test pilot took the X-35B prototype out for its first flight at Edwards Air Force Base, California on June 23, 2001.

As the program’s only Level 1 partner, the U.K. will see strong economic benefit from the F-35. The program is projected to create and support more than 24,000 jobs nationwide, and U.K. companies are responsible for 15% of each of the more than 3,000 planned F-35s.

This year’s Airshow will open around a month after the U.K. has held its historic referendum on continued membership of the European Union. In April 2016, ADS published a survey of our Members’ views which showed that 70% across all four of the sectors represented by ADS – Aerospace, Defense,

2016 celebrates Boeing’s centenary

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AEROSPACE

25

Security, and Space – believed it would be better for their business if the U.K. remained in the EU.

the world’s largest aerospace company – and helped shape the course of history.

Collectively, these sectors turnover $81bn annually and provide 310,000 direct jobs; they form the backbone of the U.K.’s industrial economy which means the outcome of this referendum on their businesses will have wider impacts.

Boeing has enjoyed a relationship with the United Kingdom and British industry dating back to the 1930s. To celebrate this, an exciting, interactive traveling exhibit is coming to the National Maritime Museum in Greenwich, London marking the first leg of a European tour which follows success in the Middle East and U.S. The special exhibit, known as ‘Above and Beyond,’ is a ground-breaking exploration of the wonder of flight and the marvels of aerospace innovation, design, and technology.

For ADS Members, the benefits of the U.K. remaining part of the EU are clear: access to integrated European supply chains; R&D funding which enables the U.K. to compete globally – something that is vital for our sectors which invest heavily in technology and differentiation as a way to keep ahead of the competition, and the benefits that collaborating with European companies bring.

Going forward, ADS Members clearly want to see the U.K. take a stronger, more active role in Brussels in addition to retaining the U.K.’s ability to influence and shape regulation.

The survey showed that our Members export predominantly to the EU, with 82% of their export total going to Europe. As a result, a seamless transfer of goods and services along with the strength of the EU to ensure we have strong trading relationships with international markets is very important.

Conversely, they have signaled that leaving creates a level of risk and uncertainty that they are uncomfortable with.

Speaking about our survey and providing a general industry view on the Referendum, Nigel Stein, Chief Executive of aerospace company GKN said: “As the CEO of a leading British engineering company which supplies to the aircraft industry around the globe, I believe membership of the EU provides real benefits not only to GKN but the British economy as a whole.

“Our membership guarantees that GKN is not only geographically close to its European customers but also that we are able to serve them free from tariffs and trade barriers, helping to keep us competitive. In addition a seat at the table in the EU allows us to help shape regulations that impact markets across the globe as well as ensuring that we benefit from EU support for important research work that will help ensure GKN remains a world beating engineering company”.

2016 marks the centenary of the founding of Boeing on July 15th, 1916 and one of the big celebrations taking place at Farnborough Airshow this year will honor William Boeing and the generations of talented employees and partners who built

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The Farnborough International Airshow promises to be an exciting centerpiece to 2016, it will provide a key opportunity for updates on the U.K.’s industrial approaches particularly the Aerospace Growth Partnership and the Defence Growth Partnership. Through the Growth Partnerships, U.K. government and industry collaborate to ensure the future of strategically important sectors; driving productivity, investing in R&D, and ensuring global competitiveness.

At the time of writing this article in April 2016, the countdown to the show is very much underway and already the site is taking shape. Once it is over, work will start on a major new development that will transform the Airshow for 2018 with the construction of what will be the largest structure in the county of Hampshire. The $36 million new facility will provide state-ofthe-art conference and exhibition facilities a suitable backdrop for this globally important event.

The ADS Group is the premier trade organization advancing the U.K. Aerospace, Defense, Security and Space industries. Farnborough International Limited (FIL), which runs the Farnborough International Airshow, is a wholly-owned subsidiary.

Website: www.adsgroup.org.uk Twitter: @ADSgroupUK Blog: blog.adsgroup.org.uk

PRACTICAL ADVICE

Joint Strike Fighter

26

AUTOMOTIVE

Innovation in the U.K. Automotive Industry

Britain may be a small country, but when it comes to ideas we make them big – and that is a fact that is particularly true of our motor industry. U.K. Automotive has a rich heritage in innovation and in producing world-renowned pioneers.

alternatively fueled vehicles. In automotive manufacturing we posted productivity performance four times the National average. In fact, in terms of labor productivity, we lead the way in Europe and rank seventh in the world, while our $100bn industry accounts for $22bn in domestic value-added and 11.8% of all British goods exports.

Sir Alec Issigonis, creator of the iconic original Mini; Sir William Lyons, dubbed ‘Mr. Jaguar’ after the company he founded; Sir Henry Royce, a man who needs no introduction, and no doubt, without whom the automotive and aerospace industries as we know them now would be very different. These are just a few of the men who revolutionized modern automotive engineering and design in its early years and laid the foundations for the industry’s successes today.

At the core of all this is a highly skilled and flexible labor force, a robust economy, strong support from government and a multi-billion dollar commitment to innovation. In 2015, some $3.5bn of fresh investment was announced for new U.K. production initiatives, new vehicle models and technology – and that is not including the annual $3.4bn invested in R&D, an increasingly important indicator of competitiveness.

Now, in the 21st century, the U.K. is home to a thriving automotive manufacturing sector, with our products in demand both in the buoyant domestic car market and across the world.

British manufacturers made more cars in 2015 than any year since 2005, with output reaching almost 1.6 million units, while a record number of cars was exported, with more than 1.2 million units destined for more than 100 countries worldwide.

2015 was also the year that the U.S. re-established itself as our biggest single export destination outside of the EU, with American buyers taking around one in 10 of U.K. car exports.

Britain is now the second biggest new car market in Europe, and in 2015 was one of the fastest growing EU markets for

As our industry’s global footprint grows, our innovation credentials will be more important than ever. We are well equipped for the task, with three of the world’s top 10 universities, 13 R&D centers, multiple established projects to attract inward investment and strong home advantages in the areas of advanced powertrain and connected and autonomous vehicle technology.

U.K. Automotive invests huge amounts developing, manufacturing and bringing to market vehicles that are cleaner, more fuel efficient and safer every year. When it comes to ultra low emission vehicles, in particular, we have a strong record. The demand for alternatively fueled vehicles in the U.K. grew 40.3% last year, securing its biggest ever market share

Credit: SMMT

PRACTICAL ADVICE

By Mike Hawes, Chief Executive, Society of Motor Manufacturers and Traders (SMMT)

The McLaren Technology Centre in Woking, southern England

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AUTOMOTIVE

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of 2.8%. Plug-in hybrids experienced phenomenal growth, with new registrations more than doubling, while pure electric vehicles saw an uplift of around 50%.

now, that is a significant undertaking, and one that represents a milestone first step towards an initial network of 65 by 2020 and full national coverage in the next decade.

With the setting of ever stricter CO2 emissions targets over the coming years, the need for ever faster innovation in these technologies is acute, and industry and government are working together to develop and implement a raft of measures to make the U.K. a global leader in low carbon technology and solutions.

Connected and autonomous vehicle development is also a critical field in which Britain is leading. With the gradual adoption of this technology into the mainstream, a $73bn opportunity has been identified in the U.K. every year by 2030.

And we are fully exploiting what is a unique position to lead the way in developing these intelligent communicative and driverless cars of tomorrow.

The Automotive Council, established in 2009 and a beacon of government-industry collaboration envied by other countries, ensures that industry activities, technology roadmaps and government strategy are aligned to make the U.K. the location of choice for the development, demonstration and employment of low carbon technologies.

Industry in the U.K. has invested significantly in the long-term low carbon vision. Toyota, which produces its Auris Hybrid at Burnaston in Derbyshire, the first full mass-produced hybrid in Europe; Nissan with its all-electric Leaf in Sunderland, alongside a $600 million battery plant set up in 2013 which will receive a further $37.7 million investment in 2016; and the Geely-owned London Taxi Company, which in 2015 announced $355 million worth of investment to build a state-of-the-art research, assembly and development facility for its next generation of ultra low emission cabs. And there is much more to come, from more manufacturers.

The U.K. government is investing too, with the Office of Low Emission Vehicles having pledged $1.3bn from 2010 to 2020 and the Treasury setting aside a further $140 million of fiscal incentives to 2020. There are solid justifications behind this investment – ultra low emissions vehicle technology is a major growth market with many new elements in the value chain – not just new vehicles, but components, infrastructure, utilities, renewable energy generation, telematics, system networking, retailing, service and parts supply, and more.

Serious backing is also being given to the next generation of alternative fuels. Hydrogen fuel cell vehicles, for example, are an integral part of the Automotive Council’s passenger car low carbon technology road map, while hydrogen as a transport fuel features in the Council’s recently launched energy and fuels roadmap. The U.K. H2Mobility initiative, another industrygovernment partnership designed to make hydrogen fueled transport a reality, forecasts annual U.K. fuel cell electric vehicle sales of more than 300,000 by 2030, by which time 1.6 million could be on the road, supported by 1,150 hydrogen refueling stations.

The building blocks for this hydrogen future are being put in place in the U.K. now. Currently, there are three hydrogen refueling stations offering public access, however, a $7.8 million government investment under the Hydrogen for Transport Advancement Programme aims to have 12 such stations operational by the end of 2016. With just two car models featuring this technology on sale in the U.K. right

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In 2016 driverless car trials will begin on U.K. freeways, while eight new industry and government projects will also start.

These will address issues such as real world testing of vehicle data connectivity technologies, studies of design aspects for older, disabled, and visually-impaired people, and programing driverless cars to behave more like human drivers.

There is enormous potential for this new era of automotive technology for companies investing in the U.K., not just in the overarching value chain but in terms of direct employment, with 300,000 new jobs set to be created in the U.K. by 2030.

And we must not forget about the huge benefits to safety, with 25,000 accidents every year forecast to be prevented on British roads, and 2,500 lives saved.

Connected and autonomous vehicles will transform our roads and the way our society functions for generations to come, and that the U.K. has grasped this opportunity is testament to its ability to adapt, to lead and to innovate. Thanks to foresight, expertise and an inherent commitment to technological advancement, the U.K. is well placed to ensure it remains at the forefront of pushing through these next breakthrough technologies that not only enhance the driving experience but make driving smarter, safer, and cleaner – now, and in the future.

For further information, visit www.smmt.co.uk

The Society of Motor Manufacturers and Traders (SMMT) is one of the largest and most influential trade associations in the U.K. It supports the interests of the U.K. automotive industry at home and abroad, promoting a united position to government, stakeholders and the media.

PRACTICAL ADVICE

The Advanced Propulsion Centre (APC), based in Coventry in the West Midlands of England, for example, is a $1.5bn initiative jointly funded by government and industry that helps turn low carbon propulsion concepts into commercial, marketready products developed and produced in the U.K. To date, some $410 million has been committed to 17 collaborative R&D projects that will save more than 17 million metric tons of CO2 emissions, while also creating or securing 5,300 jobs in the U.K.

In part, this is thanks to our two-year head start on other European countries, by virtue of the fact that the U.K. never ratified the Vienna convention some decades ago. This means on-road driverless car pilots can take place without the need for primary legislation, and indeed, driverless car trials in public spaces have already started. Last year, four projects in British cities, including Milton Keynes, Bristol, Coventry, and Greenwich in southeast London, got underway, each benefiting from part of $313.5 million of government and industry investment pledged for driverless research, development and demonstration in the U.K.

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LIFE SCIENCES

The U.K. Biotechnology Sector: a Hotbed for Innovation

PRACTICAL ADVICE

By Steve Bates, CEO UK BioIndustry Association (BIA) Following globally challenging circumstances in the years following the 2008 financial crisis, the U.K. bioscience sector has experienced recent uplift and momentum, consistently leading Europe on key indicators such as capital raised and pipeline of products.

Large parts of the global innovation in modern drug development are rooted in the U.K., including Humira, the world’s best-selling drug. Looking forward, the U.K. is at the heart of the development of a new generation of genetically targeted personalized medicines and cancer immunotherapy, as well as the science tools and platforms underpinning these game-changing therapies.

There are various factors that make the U.K. a compelling place to focus a life sciences business, including the strong U.K. science base, the competitive tax and fiscal environment and access to high quality talent. That talent is not just in science but also in the related disciplines that are required for a successful life sciences business, for example, regulatory expertise, IP law and marketing and sales. However access to the EU single market, a harmonized regulatory system, the location of the European Medicines Agency (EMA) in London and the world-leading reputation of the U.K.’s national regulator, the Medicines and Healthcare products Regulatory Agency (MHRA) are also key drivers for these decisions.

The quality of science evident in the U.K. biotech sector continues to attract a high level of investment. Data taken from an annual report published by the BioIndustry Association (BIA), in collaboration with EY – State of the Nation 2015: Building the third global cluster – showcased 2014 as the best year to date for investment in the U.K. bioscience sector with $1.7bn raised in innovation capital, up 143% on 2013.

The country is home to two of the world’s top three universities for life sciences – taking first and joint second place – and together, U.K. scientists have been awarded over 80 Nobel Prizes. This strong science and research base supports a life sciences industry comprising over 4,300 companies and their sites developing, manufacturing, and marketing products and services to the U.K. and global markets.

Figures for 2015 are yet to be revealed, but against a backdrop of turbulent global markets, the U.K. sector stands in good stead. The London Stock Exchange (LSE) recently revealed continued strength for U.K. public market activity in the life science sector in 2015 with $1.85bn raised in life science IPOs and follow-on offerings on the LSE, slightly ahead of 2014, itself the best year in a decade.

The U.K. bioscience industry boasts the largest pipeline of new product candidates in Europe, developing over 580 in 2015:

By early 2016, we saw an interesting trend developing where London investors saw opportunity in companies from the U.S. that offer a diversified portfolio of biotech assets, such as PureTech, or provide tools and services to the genomic revolution.

Therapeutic pipeline by phase for leading European biotech hubs, 2015 Preclinical

Phase I

Phase II

Phase III

The U.K. also increased its lead over its European counterparts in 2014 with a strong showing in venture capital investments, which contributed $510 million to the innovation capital total. Indeed, the U.K. now represents almost a third (31%) of all innovation capital raised in Europe.

The BIA has been at the forefront of creating an environment that makes the U.K. stand out from international competitors and there are a number of key areas that attract companies and investors alike to the U.K. bioscience industry.

THE U.K. HAS A STRONG AND SUPPORTIVE FISCAL ENVIRONMENT

Number of product candidates Source: EvaluatePharma. Excludes companies with market cap above $20bn.

The fiscal environment for emerging life science companies in the U.K. remains globally competitive and this is a crucial factor influencing companies’ decisions to invest here. The Patent Box (a U.K. Government initiative that can provide a lower rate of Corporation Tax to profits earned from patented inventions), R&D tax credits, and tax-advantaged investment schemes all play a valuable role in encouraging and supporting investment in our sector, and we welcome the Government’s ongoing positive focus on this area.

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Capital raised by leading European countries, 2014

Capital raised by leading European countries, 2014

Total capital raised ($b)

2.5 UK

2.0 Ireland

1.5

France

Netherlands

1.0

Switzerland

Denmark

0.5

PRACTICAL ADVICE

Sweden Israel

0

0

100

200

300 400 Venture capital raised ($m)

500

600

Source: BIA and EY, State of the Nation 2015: Building the third global cluster Size of bubbles shows number of financings per country. Capital raised is illustrated by the centre of the bubble.

Source: BIA andis the EY, State thebyNation Building the$500m third global cluster Innovation capital equity capitalof raised companies 2015: with annual revenues under Size of bubbles shows number of financings per country. Capital raised is illustrated by the centre of the bubble.

Innovation capital is the equity capital raised by companies with annual revenues under $500m At the Budget statement in March 2016, Chancellor George Apollo Therapeutics fund was launched in early 2016 – a Osborne announced an extension of Entrepreneurs Relief unique collaboration between AstraZeneca, GlaxoSmithKline, to include longer term external investors, responding to and J&J Innovation, together with the technology transfer calls made by the BIA for the government to ensure reliefs offices of Imperial College London, University College London effectively support high risk entrepreneurial companies that are and the University of Cambridge. It is fantastic to see these the lifeblood of the U.K.’s life sciences sector. An additional partners, across industry and academia, coming together to drop in the rate of Corporation Tax was also revealed, to reach support the development of U.K. science. The fund adds to 17% by 2020, having fallen from 28% in 2010. the growing momentum behind life sciences investment in Britain, providing support for high-risk early stage innovations The BIA continues to lobby on behalf of U.K. bioscience to ultimately develop the treatments of the future. to create an environment that attracts the private sector investment that the industry needs to grow and succeed.

This year will see the much anticipated Francis Crick Institute laboratory building open for business, creating a world-leading THE U.K. PRODUCES INVESTABLE SCIENCE AND HAS A multidisciplinary biomedical research institute in London.

GREAT DEAL OF TRANSLATION CAPABILITY The institute itself – a consortium of six of the U.K.’s most Investors and globally mobile life science multinationals will seek out investable science from wherever it comes. Public support, such as that provided via Innovate UK and the Medical Research Council’s Biomedical Catalyst, enables U.K. science to be developed to a similar technology and investorreadiness level as state funding does for science in the USA. This approach is clearly working as over the last four years, the U.K. has attracted around $5bn of industry and private sector investment.

Source: Laing O’Rourke

The U.K.’s Catapult network continues to support innovation

by U.K. businesses, providing access to expertise, equipment, and other resources required to take revolutionary ideas from concept to reality. Catapults exist to reduce the risk that comes with early stage innovation, accelerate the pace of business development and build the U.K.’s global competitiveness.

Each center focuses on an area in which the U.K. has genuine potential to generate growth in strategically important global markets – precision medicine and cell and gene therapy being two such areas.

The pioneering research being carried out by the U.K.’s worldleading universities is also well supported. The new $57 million Aerial view of the new Francis Crick Institute laboratory building, London

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LIFE SCIENCES

successful scientific and academic organizations including the Medical Research Council, Cancer Research UK, the Wellcome Trust, University College London, Imperial College London, and King’s College London – was launched in April 2015, with staff working at their existing sites.

The U.K. continues to provide a robust patent environment for biotech products, despite recent unhelpful case law in higher U.S. courts in this area. We remain committed to and campaign for both high standards of patent protection for biotech innovation and international harmonization of such positions, something we have common cause with U.S. companies.

PRACTICAL ADVICE

THE U.K. IS A SOCIETY THAT IS SUPPORTIVE OF LIFE SCIENCE INNOVATIONS TO FURTHER HUMAN HEALTH The Crick Institute is already making international headlines with its ground-breaking research using new genome editing techniques on human embryos to provide further fundamental insights into early human development. The application was approved by the Human Fertilization and Embryology Authority earlier this year, representing the world’s first endorsement of such research by a national regulatory authority.

The U.K. achieved another world first in February 2015, when it became the first country to pass laws approving mitochondrial transfer, by a majority vote of 254 – a firm show of support for innovation in the U.K. biomedical sector. During the debates, government minister Earl Frederick Howe told the House magazine: “Families can see that the technology is there to help them and are keen to take it up, they have noted the conclusions of the expert panel.”

THE U.K. SEEKS TO ENABLE PATIENT ACCESS TO INNOVATIVE NEW TREATMENTS Launched over a year ago and overseen by Life Sciences Minister George Freeman, the Accelerated Access Review (AAR) aims to speed up access to innovative drugs, devices, and diagnostics for National Health Service patients. The interim report, published in October 2015, recognized that the two fundamental challenges are to ensure the health system is receptive to innovation and to find workable ways to ensure its adoption in order that NHS patients can benefit from innovative treatments.

As part of the AAR process, work has been commissioned into the Early Access to Medicines Scheme (EAMS). EAMS aims to give patients with life threatening or seriously debilitating conditions access to medicines that do not yet have a marketing authorization when there is a clear unmet medical need. Under the scheme, the Medicines and Healthcare products Regulatory Agency (MHRA) will give a scientific opinion on the benefit/risk balance of the medicine, based on the data available when the EAMS submission was made. As of April 2016, seven scientific opinions have been awarded, allowing U.K. patients access to the medicine before licensing approval.

The AAR is due to publish its final report in 2016 and the BIA will continue to work with the government to ensure that the U.K. is at the forefront of tackling unmet patient need.

Steve Bates Chief Executive Officer, UK BioIndustry Association Since his appointment as Chief Executive of the Bioindustry Association in 2012, Steve Bates has led major BIA campaigns for, amongst other things, improved access to finance, the refilling of the Biomedical Catalyst, anti-microbial resistance and the opportunity the sector presents to generalist long term investors.

Steve champions the adaptive pathway approach to the licensing of new drugs, the need for Early Access and is particularly proud of the working relationship the BIA has established with the U.K.’s leading medical research charities.

A founder member of United Life Sciences, a strategic partnership representing over 1,000 life science and healthcare member companies across the U.K. and internationally, Steve attends the U.K.’s Ministerial Industry Strategy Group, and sits on The Royal Society’s Science, Industry & Translation Committee.

Beyond the U.K. Steve is a member of EuropaBio’s Board and its National Association Council and is a founder member of the International Confederation of Biotech Associations.

An expert and regular commentator on the sector in the media and at industry-leading conferences, Steve has worked both in biotech (as Senior Director at Genzyme UK and Ireland) and at the highest levels of U.K. government (as Special Advisor to John Reid, MP, during his time in Tony Blair’s government) for over 15 years.

UK BioIndustry Association Established over 25 years ago at the infancy of biotechnology, the UK BioIndustry Association (BIA) is the trade association for innovative enterprises involved in U.K. bioscience. Members include emerging and more established bioscience companies; pharmaceutical companies; academic, research and philanthropic organizations; and service providers to the bioscience sector. The BIA represents the interests of its members to a broad section of stakeholders, from government and regulators to patient groups and the media. Our goal is to secure the U.K.’s position as a global hub and as the best location for innovative research and commercialization, enabling our worldleading research base to deliver healthcare solutions that can truly make a difference to people’s lives.

For further information, please visit www.bioindustry.org twitter.com/BIA_UK

The various mechanisms of support made available throughout the innovation process, from early stage funding, a strong fiscal environment and access to a range of high quality talent, to enabling patient access to new medicines, help to ensure that the U.K. remains a global leader in the biotech field and an attractive location to focus a life science business.

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SCIENCE PARKS

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The U.K.’s Innovation Powerhouse

By Jim Duvall, Membership Manager, United Kingdom Science Park Association

U.K. science parks have now reached a significant level of maturity with many being active for well over 30 years.

UKSPA now has over 120 locations, each providing an excellent environment to support the formation and growth of knowledge-based businesses.

Our members work tirelessly to join up the various parts of the innovation journey, from the earliest stages of growth in an incubator or business accelerator, to the maturity of major international companies located on campus.

Many parks have effective and intricate relationships with universities and other centers of learning, and through offering appropriate infrastructure, resources, access to funding, and

Wilton Centre

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other innovation and business support services, will make a significant contribution to the development of the new regional “powerhouses” in the Midlands and the North of England.

THE CURRENT PICTURE UKSPA’s 2015 membership survey provided a valuable evidence base that demonstrated the level of activity and impact of our sector in providing the vital engine room for accelerating the growth of the U.K. knowledge economy.

Whilst the annual growth rate of the Association has been fairly impressive over the last 15 years, our most recent survey has highlighted some important trends within our sector, and provided us with an accurate picture of the changing nature of the environment our science parks, research parks, innovation centers, and technology incubators are working in today.

For example, we know that 72% of our member sites have tenant activity in life sciences; 22% in satellite applications; 45% in big data, and that a high proportion of UKSPA member locations also have tenants focused on the eight great technologies (big data; satellites; robotics & autonomous systems; synthetic biology; regenerative medicine; agriscience; advanced materials, and energy storage) and the U.K. Department of Business, Innovation and Skills industrial strategies.

PRACTICAL ADVICE

In 2014 The United Kingdom Science Park Association (UKSPA) celebrated our 30th anniversary with an international conference and exhibition that highlighted the continuing vibrancy of U.K. science parks, research parks, technology parks, innovation centers and innovation-led incubators, and the vital contribution our members make to delivering the nation’s innovation agenda.

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SCIENCE PARKS

There is therefore the ability and capacity to significantly influence the innovation supply chain both locally, regionally, and internationally. 93% of our members feel that it is very important for their role as the center for technology and innovation in their local area to be recognized by government and all local stakeholders.

PRACTICAL ADVICE

The national demand and supply of suitable space for startup and growth firms needs to be more fully understood, but it is worth noting that at the time of writing (April 2016) there are early signs that lack of suitable accommodation in some regions may be choking growth at a critical time. 55% of our members report demand for space from growing companies, but have no further room for expansion.

UKSPA members also provide accommodation and innovation and business support services that are attractive as softlanding zones to overseas science and technology firms wishing to settle in the U.K. 72% of our members provide access to services for inward investment, and I believe this offering will only continue to grow in importance as science park tenants are increasingly operating on a global scale, and as our research and science base remains an attractive source of intellectual property for overseas firms.

SCIENCE PARKS, INNOVATION, AND THE GLOBAL ECONOMY A report, Contributors and Detractors: Ranking Countries’ Impact on Global Innovation (Information Technology and Innovation Foundation, January 2016) was discussed by our members at a recent UKSPA conference.

The report placed the U.K. as the third best place in the world for innovation – behind Finland and Sweden but higher than the United States, France, and Germany. Human capital – which addresses the quality and quantity of universities, the number of STEM graduates and number of researchers – was also identified as a particular strength. As a source of

innovative inventions and concepts U.K. universities have a proud record; although the effective translation of these into innovative new products and services is perhaps seen as a little less successful.

So, whilst there are significant relationships between science parks and universities, (in our most recent survey 87% of our members believe that their collaborative work with universities and research institutions is of great importance) and our science parks exist to encourage growth of technology businesses, we still need to investigate more ways to encourage greater engagement between our tenants/clients and the universities we are so closely associated with.

This is not to say that our members do not find ways to effectively catalyze the translation of innovative inventions/ concepts into new products and services, but it appears there is much more work to be done in this area over the coming years. The impact of such efforts could be significant given the intimate relationship that science parks have with universities.

INTERNATIONAL PARKS. INTERNATIONAL INVESTMENTS Interest in the U.K. Science and Innovation Sector from the United States is significant – both among potential tenant companies as well as real estate investors – and this is growing with a steady stream of announcements coming from UKSPA members.

For example, American automotive company Lighting Hybrids International (LHI), designer of hydraulic hybrid technology for harnessing brake power on light commercial vehicles, was a recent firm to sign up to the MIRA Technology Park in the East Midlands of England.

The firm selected the MIRA site as its first U.K. base and joins the likes of Bosch, Lockheed Martin, Aston Martin, and Continental at the park. MIRA Technology Park is part of a growing cluster of automotive companies in this part of the U.K.

MIRA Technology Park

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PRACTICAL ADVICE

Wilton Centre

Tim Sherwood, managing director of international business at LHI, said:

Mark Taylor, head of national offices at Colliers, who advised on the deal said:

“We’re delighted to establish our first U.K. base at MIRA Technology Park. The Midlands – and indeed MIRA – is a hive of activity for the automotive industry, and home to many top tier automotive suppliers.”

“As proven by the BEST Network purchase, the investment potential offered by U.K. science parks is beginning to hit the radar of investors internationally.”

Since 2010, MIRA Technology Park has welcomed more than thirty globally-recognized businesses to the site. It has also become one of the U.K.’s top performing Enterprise Zones and is rapidly gaining recognition as a premier location in Europe for automotive research and development.

The current devolution debate in the U.K., the growth of innovation districts, government support for Catapult Centers, science and innovation audits, and the imminent publication of the Government’s Innovation Plan demonstrates that “Place” is now being recognized as being of vital importance to economic growth.

In terms of investment and ownership, giant U.S. investment manager Angelo Gordon also recently invested in a portfolio of U.K. science and technology parks. With joint-venture partner Trinity Investment Management, it has agreed a deal to buy a five-strong portfolio of parks from the previous owners. The newly formed JV will look to capitalize on the growth in the U.K. science and technology park sector, which has been led by a surge in the number of start-up businesses emanating from this field.

Richard O’Boyle, executive director at Trinity said: “Science and innovation remains a key growth driver within the U.K. economy where we see strong occupational demand continuing. We look forward to working with all stakeholders, including existing and potential occupiers, as we explore ways to elevate the parks on a national and international level.”

The portfolio, which covers 348 acres across the five sites, is the largest privately owned network of science and technology parks in the U.K. and comprises Langstone Technology Park, Havant, Hampshire; Kent Science Park, Sittingbourne, Kent; Hexagon Tower, Manchester; Wilton Centre, Teesside, and Edinburgh Technopole, Edinburgh, Scotland.

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SCIENCE PARKS: A REGIONAL PERSPECTIVE

Regional groupings of science parks and other innovation locations could give the sector a stronger voice in the devolution debates by promoting the addition of ‘coal face’ value and experience to the discussions on future innovation ecosystem development. Science parks working together will be able to multiply the effects of targeted interventions to promote knowledge economy growth.

The U.K. should be proud of the truly innovative communities that are clustered on, in and around our science parks and innovation environments, but without wishing to finish on a low note, the U.K. government has some way to go to accept and recognize the value of our sector compared to most other governments in Europe, and indeed throughout the world.

For further information on UKSPA members visit www.ukspa.org.uk

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PRACTICAL TECH TRANSFER ADVICE

Supporting the “Special Relationship” Between Research and Industry

PRACTICAL ADVICE

By Tamsin Mann, Policy Officer, PraxisUnico The U.K. hosts 0.9% of the world’s population, but is second only to the U.S. in the number of top 40 universities that it boasts, and the U.K. also punches above its weight with 15.9% of the world’s most highly-cited articles and 11.6% of research citations globally1.

U.K. research partners have a strong track record in active and productive collaborations with the U.S., and the reasons for business to engage with public sector research establishments and universities are clear. As identified in the CBI report Best of Both Worlds, benefits include reducing cost and risk for businesses; access to new ideas and horizon scanning, together with supporting the development of research skills, capability and profile2.

There are over 50 public sector research establishments (PSREs) and 163 universities in the U.K., with a diverse range of interests, strengths and structures within that sector. This diversity is entirely appropriate when one considers that PSREs range from the Natural History Museum to the Met Office, and universities range from such specialists as the Glasgow School of Art through to the University of Cambridge, with over 800 years of heritage in which to establish experience, reputation and connections. This can make engaging with organizations in this sector of the innovation landscape seem more of a challenge.

Delegates on PraxisUnico’s Developing Strategic Partnerships course, which trains Knowledge Exchange and Commercialization (KEC) professionals in how to manage long-term complex relationships with external organizations, have identified over 30 different ways in which businesses can engage with universities and research bodies. Without a ‘guide’ the process of engagement is much harder, and can feel overwhelming – and that is before the issue of differing motivations driving academic and industry priorities enters the equation.

This is where KEC professionals can come to the rescue as they play a valuable role in assisting industry to establish a positive grounding for a fruitful relationship. Through their expertise they are able to identify the most appropriate routes, contacts, and mechanisms for success.

In the U.S., “technology transfer” is a well-known and wellrecognized term. KEC is much wider than just technology transfer and represents a longer process of engagement; from events, to continuing professional development, through contract and collaborative research, to commercialization and enterprise. In the U.K. there are very few dedicated university technology transfer offices as most universities

combine research and commercialization administration under ‘Research & Enterprise’, or similar names. Large organizations with dedicated commercialization arms tend to have names such as “Cambridge Enterprise”,”Imperial Innovations”, “Isis Innovations”, or “UCL Business”. Whereas, in the U.S., Stanford has an “Office of Technology Licensing”, a name that is virtually unheard of in the U.K. where “innovation” or “enterprise” tends to be front and center.

The professionally skilled KEC professionals working in these offices are often the unsung heroes working behind the scenes on many collaborative and commercial successes.

They work to facilitate relationships and collaborations that take into account and reconcile the aims of both academic and commercial interests, to expedite processes and set a strategic approach. They have expert knowledge of funding and legal requirements for the treatment of intellectual property, many having come from industry or with research backgrounds themselves.

KEC professionals are particularly important as a research partnership is a people business, often underpinned by legal frameworks and agreements, and involving financial transactions. Collaboration is not just about money and, as a two-way process with industry, knowledge exchange needs to facilitate that collaboration as equal partners. Knowledge exchange and commercialization professionals work to establish that footing, adding significant value through their specific know-how and experience of handling the cultural drivers of both business and academia. Long-term relationships benefit from several points of engagement between organizations, where activities may move at a different pace, but ultimately support the same overall goal(s).

For example, a company may ultimately be interested in longterm research collaboration but they could start with contract research, and then additionally build in student recruitment.

This engagement should be supported by long-term relationship management to support and sustain dialogue and, over time, build links and trust both within and across organizations.

A good example of how KEC in the U.K. is becoming more integrated in collaborations is the Institute for Advanced Manufacturing and Engineering (AME) at Coventry University, which was recognized in the PraxisUnico and Research Council UK’s “Impact Awards for KEC Professionals.”

Coventry University developed the U.K.’s first “faculty on the factory floor” by partnering with local employer Unipart to set up a brand new state-of-the-art building on the Unipart manufacturing site to provide students and researchers access to numerous technologies, as well as metrology and material testing, and characterization laboratories.

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PRACTICAL TECH TRANSFER ADVICE

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One organization which has been successful in this context is the world’s leading university incubator, SETsquared. Based in the southwest of England, it has strong links to the U.S. Many of its spin-outs, such as Fianium, have successfully operated facilities in the U.S.3 for several years, and it runs annual Student Enterprise Awards for student and graduate start-up businesses to help them develop their ideas for market in the United States.

Universities and industry have been collaborating for over a century; indeed many of the U.K.’s universities were originally established to address pre-competitive business and industrial questions. It is natural for the U.K. and U.S. to work together in addressing such questions – in the words of the Research Councils UK (RCUK):

Back row (l-r): Adrian Braine, entrepreneur in residence at SETsquared’s Basingstoke hub; Simon Bond, innovation director Front row (l-r): Karen Brooks, program director; Ali Hadavizadeh; centre director at SETsquared’s innovation centre in Bath, Celia Gaffney, director of Surrey incubation at SETsquared’s innovation center at the University of Surrey

Carl Perrin, Director of AME, describes the thinking behind the project: “ The Institute for Advanced Manufacturing and Engineering is a different model for developing engineering talent. Bringing the teaching and research environment on to the factory floor generates a unique experience for students and fresh thinking for industry.”

This new way of engaging with business delivers highly skilled work-ready graduates for the local area and has secured millions of dollars of investment from the application of high impact research through strategic partnerships with brands such as Ford. One project where AME worked with Ford has now generated over $20m of new manufacturing business.

The AME accelerates the process from innovation to commercial realization, and aims to deliver partnerships that benefit both Coventry University and Unipart to deliver impact through knowledge exchange.

AME has three core strands to its operation: • Training, Skills & Education • Research and • Growth & Impact

The RCUK formally recognized this relationship in establishing RCUK US to build the strength of the connection and work with U.S. federal funders and endowments to promote dialogue between communities and to create an environment that fosters collaboration4.

The U.K.’s KEC community has learnt from the U.S. and maintains strong ties with the U.S.-based technology transfer community via the Association of University Technology Managers (AUTM), PraxisUnico’s sister organization.

PraxisUnico itself has stateside roots: under the then Labour government in 2000, the Cambridge-MIT Institute (CMI) was established to explore how academics, industrialists and educators might work together to stimulate competitiveness, productivity and entrepreneurship5. The CMI set out to improve knowledge exchange between industry and universities, bringing many players together to explore and share best practice from both the U.S. and U.K. contexts. Praxis training courses was just one fruit of the CMI collaboration and Lita Nelsen, Director MIT Technology Licensing Office, remains a PraxisUnico patron to this day.

For more information, please contact: PraxisUnico The Jeffreys Building, St Johns Innovation Park Cambridge, CB4 0DS Tel: 01223 659950 Email: info@praxisunico.org.uk Web: www.praxisunico.org.uk

Training, Skills & Education clients include large global blue chip OEMs as well as local SMEs, and research partners are drawn from a similarly large pool.

The AME approach to overcoming the skills barrier challenge and working effectively with industry is replicable across the world and Coventry University is now in discussion with a U.S.-based university to help them set up a similar model with one of their strategic partners who faces a similar challenge to growth, through the current lack of skilled workforce in a former manufacturing center.

Significant industrial engagement is often critical to secure matched investment for strategic university projects, and so investment from the United States is always welcome as are the opportunities that the U.S. market presents.

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1 Source: RCUK - www.rcuk.ac.uk/international/offices/us/engaging-with-the-usa 2 CBI http://news.cbi.org.uk/reports/best-of-both-worlds 3 The SETSquared Partnership the enterprise collaboration between the universities of Bath, Bristol, Exeter, Southampton, and Surrey www.setsquared.co.uk 4 For more information see www.rcuk.ac.uk/international/offices/us/engaging-with-the-usa 5 See www.cmi.cam.ac.uk

PRACTICAL ADVICE

“ As two of the strongest research systems in the world, the U.K. and the U.S. have long been partners in research. The U.S. is the first choice partner for many of the U.K.’s best researchers and vice versa.”

PRACTICAL ADVICE AGRI-TECH

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U.K. Agri-Tech Research and Innovation

PRACTICAL ADVICE

By Dr. Adam Staines, Head of Strategy – Agriculture and Food Security, Science Group, Biotechnology and Biological Sciences Research Council (BBSRC) The first question I always get asked in this area is what do you mean by “agri-tech”, do you mean tractors, agri-data, GM crops? Even in the U.K. the phrase means different things to different people. The simple answer is it is all of these things, and more.

The U.K. has a strong history of R&D in agriculture from the novel crop rotations systems and seed drills of the 18th century, to Dolly the sheep.

Agriculture stepped up in the U.K. political agenda in 2013, when a significant intervention was made through the launch of the government’s U.K. Strategy for Agricultural Technologies.

“We want the U.K. to become a world leader in agricultural technology, innovation and sustainability; exploit opportunities to develop and adopt new and existing technologies, products and services to increase productivity; and contribute to global food security and international development.”1 This strategy is supported by three key U.K. strengths: • Institutes and university departments at the forefront of scientific research vital to agriculture and related technologies.

• Innovative and dynamic farmers, food manufacturers and retailers.

• Well positioned to make an impact on global markets through exports of products, science and farming practices.

DARD Innovate UK 2% 2% NERC 4% Scottish Government 11%

There has been a long history of the U.K. government facilitating innovation partnerships between the excellent U.K. research base and innovative companies, with a range of funding opportunities across many public funders. At the launch of the strategy the total U.K. public funding for agri-tech in 2012/13 was close to $500 million split between the funders seen in Figure 1.

However, to deliver this strategy two new bespoke funding streams were created to enhance current agri-innovation activities, the Agri-Tech Catalyst and the agri-tech centers.

AGRI-TECH CATALYST The Agri-Tech Catalyst was implemented by Innovate UK and the Biotechnology and Biological Sciences Research Council, with co-funding from the Department for International Development, to contribute to the transfer of technology and new products to developing countries. To date, four rounds of investment have delivered a range exciting innovations2.

Highlights include: • The Soil-for-life Beta project led by Produce World Group (one of the U.K.’s largest fresh produce businesses) is focused on collating and mining the ‘big data’ that exists within the supply chain and farm systems e.g. soil analyses, crop rotations, fertilizer records, and the integration of these datasets into an aggregated data holding.

• Unmanned Aerial Systems – drones, led by PepsiCo (makers of Quaker Oats) will provide U.K. oat producers with world leading agronomic ‘tools’.

• A new sensor, which can be used to continuously measure the nitrate concentration in irrigation water will be deployed at commercial hydroponic farms, allowing continuous nitrate monitoring for the first time.

ESRC 1%

BBSRC 31%

• Saturn Bioponics have generated one of the first commercially viable vertical cropping systems for salad with projected yield increased by up to 3.5 times, reduced costs of production and environmental impact, optimal water and nutrient use efficiency, and root zone disease eliminated.

• Developing a new lamb grading system based on imaging technology to more accurately assess meat, with potential to drive lamb breeding strategies to meet consumer requirements.

Defra 14%

DFID 15%

BBSRC Capital 20%

Figure 1: Total U.K. agri-tech spend by public sector funders (2012/13, total close to $500 million)

• Addressing the challenge of sheep lameness, a predominant cause of both poor productive and reproductive performance on sheep farms costing industry around $115 million a year.

• Improving female fertility and calf survival in the U.K. beef industry. This project is innovative as beef genomics is

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PRACTICAL AGRI-TECH ADVICE

still in its infancy and there are currently no breeding tools available for the genetic improvement of survival.

• Vaccine diluent improvement for ECF-ITM, a unique opportunity to translate British technology and expertise from the human health sector into livestock disease control in the developing world context.

• BirdEase: an integrated diagnostic system for bacterial detection in poultry farms; this project will develop an integrated on-farm early-warning bacterial sensing system for intensive poultry production systems.

• Aquaculture of scallops: the project focuses on U.K. field testing of rope growing methods for scallops in the U.K. • Increasing oat yields by developing new tools for growers, including translation of sensor data from unmanned aircraft systems to optimize growing conditions

• Early attractants for the major new fruit pest, Drosophila Suzukii, a ‘super lure’. This project will aim to better monitor and time pesticide application against this highly damaging soft and stone fruit pest.

• Decreasing food waste of tomato and pepper production by suspending ripening at optimum eating quality without using chemicals.

AGRI-TECH CENTERS The U.K. government committed to invest in a number of new Centers for Agricultural Innovation. A competition to establish these centers opened in late 2014, with the aim to significantly increase innovation, build competitiveness and leadership, and encourage investment across the U.K agricultural sector.

The vision for the centers is for them to build capacity in the U.K., to translate scientific innovation into commercial opportunities for U.K businesses, to stimulate inward investment and improve farming practice.

The centers are expected to be self-sustaining organizations following the initial investment of public funding (ending in March 2019). These centers are: AGRIMETRICS Agrimetrics is the first Center for Agricultural Innovation to be established; founded by a consortium of partner organizations comprising Rothamsted Research, SRUC, NIAB, and the University of Reading, it is the world’s first data science and modeling center addressing the whole food chain. Agrimetrics will work with leading players in academia and over 200 industry partners to develop and deliver innovation needed by end-users.

Further information can be found on the Agrimetrics website: www.agrimetrics.co.uk THE CENTER FOR INNOVATION EXCELLENCE IN LIVESTOCK (CIELIVESTOCK): CIELivestock will receive $41.2 million over four years to create new livestock technology and products to boost the profitability and productivity of livestock farming.

CIELivestock will be headquartered at the National Agri Food Innovation Campus, Sand Hutton, North Yorkshire and led by a consortium of organizations comprising Aberystwyth University

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(IBERS), AFBI, AHDB, Duchy College, Harper Adams University, Queens University Belfast, Rothamsted Research, SRUC, Fera Science Ltd, The Roslin Institute, the University of Bristol, the University of Leeds, Newcastle University, and the University of Nottingham. The board of the company will be drawn from industry to ensure it has an industry focus.

CENTER FOR CROP HEALTH AND PROTECTION (CHAP): CHAP will receive $30.2 million over four years to revolutionize how farmers manage crop threats including pests and disease, both in the U.K. and overseas.

The CHAP center will provide a gateway for agri-food innovation that brings together industry and research partners, to revolutionize how global farming manages biotic crop threats to increase food productivity in a sustainable way.

CHAP will be headquartered at the National Agri Food Innovation Campus, Sand Hutton, North Yorkshire and led by a consortium of partners comprising AHDB, Bayer Cropscience, CABI, Dow Agrosciences, Farmcare Trading Limited, Fera Science Ltd., Frontier Agriculture, Newcastle University, Rothamsted Research, Tesco, and Unilever.

AGRICULTURAL ENGINEERING PRECISION INNOVATION CENTER (AGRI-EPI): Agri-EPI will receive $25 million over four years to develop advanced precision technologies that will increase the productivity and sustainability of the U.K.’s Agri-Food sector.

Agri-EPI will be headquartered at SRUC in Edinburgh, Scotland and will have hubs located alongside Cranfield University in Bedfordshire, and Harper Adams University in Shropshire, as well as over 30 satellite monitoring farms across the U.K. Agri-EPI will be led by a consortium of organizations comprising AGCO Limited, AgSpace Agriculture Ltd., AHDB, Cranfield University, Harbro Ltd., Harper Adams University, Kingshay Farming & Conservation Ltd., and SRUC. There are far too many examples of excellent agri-research and innovations in the U.K. to name them all in one article but I would be remiss if I implied there was only activity in the recent agri-tech funding streams. The U.K.’s satellite Catapult is working on a range of applications to deliver satellite technologies to agriculture. The biggest aquaponics center in Europe, Bioaqua Farm was ranked one of the top five agri-innovations in the world. The Octobot robot and new field phenotyping facilities at Rothamsted Research are supporting novel innovations at one of the world’s oldest agricultural research institutions. A recent article by a colleague outlined some more of these3 and there are many more examples discussed on the agri-tech blog4 and BBSRC agri-news feed5.

With $500 million annual investment by U.K. public funders in the world class research base and estimated $700 million R&D investment from the private sector there is lots going on and great opportunities for collaborations.

Find out more about U.K. public sector R&D investments, visit gtr.rcuk.ac.uk 1 http://gtr.rcuk.ac.uk 2 https://agritech.blog.gov.uk 3 http://www.bbsrc.ac.uk/news/food-security/2016/160223-f-farms-of-the-future 4 https://agritech.blog.gov.uk 5 http://www.bbsrc.ac.uk/news/food-security

PRACTICAL ADVICE

• Novel low-viscosity wheats for distilling: a new collaboration between industry and academics has been funded which aims to utilize a novel non-GM approach to improve a major U.K. crop.

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PRACTICALINDUSTRIES CREATIVE ADVICE – MINISTERIAL COMMENT

Bursting With Talent – the U.K.’s Creative Industries

The U.K.’s creative industries are undoubtedly one of our greatest success stories. Generating over $14 million an hour for the economy and supporting more than 1.8 million jobs, this sector is thriving and playing a crucial role in our economic recovery.

It’s no secret that the U.K.’s creative industries are punching well above their weight. Despite Britain representing less than one per cent of the world’s population, seven out of ten albums sold are by a British artist and a third of this year’s Oscar nominations were from the U.K. The global impact of our creative talent is clear with offerings like Poldark, Grand Theft Auto, Adele, Oswald Boateng, Bond, and Harry Potter now household names around the world.

The U.K. Government is determined to make sure that the huge success of our creative industries continues. We’ve introduced a number of tax reliefs, which cover the video games, film, high-end TV, orchestra, children’s TV, and commercial theater production sectors. In 2015 support for the U.K. film industry through tax relief reached over $300 million, which in turn generated over $1.5bn of direct investment in the U.K.

pledged to create three million apprenticeships by 2020.

We’re focused on building an environment that fosters creativity. We have invested more than $570 million in our music and cultural education programs, and through a $3 million co-investment with the industry skills body Creative Skillset we’re funding a new curriculum for IT in schools. Apprenticeships and training are a crucial part of our plans for economic growth, but more importantly they will provide even more opportunities for young people to enter the creative sector and develop the skills employers need.

The story of our creative industries is not just an economic one. Creativity is part of our country’s DNA and inherently part of our culture. As we mark the 400th anniversary of Shakespeare’s death, we’re reminded of the far-reaching impact British creativity has had on the world. From literature to film, fashion to video games, music to design – British creativity has inspired generations.

I’m proud of all that our creative industries have achieved and our Government will continue to support this most dynamic, innovative and inspiring group of industries to help them stay at the top of the international league.

From record-breaking albums to genre-defining video games we’re determined to maintain the U.K.’s reputation as one of the most attractive places for inward investment. In 2014 we launched an international strategy for the creative industries with the ambition to double the value of the sector’s service exports to $44bn, and increase our share of the global market for inbound foreign direct investment by 50% by 2020.

We’re making sure the U.K. is a center for international businesses and a magnet for global creatives.

But, it’s also about future proofing the sector and that is why we as a government have

Doctor Who

Broadcast to 98 countries, the BBC’s 50th anniversary episode of Doctor Who broke the Guinness World Record for a global simulcast of TV drama. For TV productions with true global reach and appeal, choose the UK.

Doctor Who © 2012 and TM BBC. Licensed by BBC WW Ltd.

PRACTICAL ADVICE

By Ed Vaizey, Minister for Culture and the Digital Economy

gov.uk/ukti

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CREATIVE PRACTICAL INDUSTRIES ADVICE

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#CreateUK: From Shakespeare to Deepmind

By Caroline Norbury, MBE, Chief Executive, Creative England

We are the nation that spawned Shakespeare, The Beatles, J.K Rowling, J.R.R Tolkien, Bond, Adele, David Bowie, Radiohead, Downton Abbey, Sherlock Holmes, and The Office.

In fact, U.K. creative talent was behind the most successful worldwide entertainment product of all of time – the video game Grand Theft Auto 5 – which was made by Rockstar North in Edinburgh, Scotland. In 2013 it became the fastest entertainment property, of any medium, to gross $1bn (achieving the feat in just three days).

And there is no denying that we are a digitally savvy bunch, with one of the fastest growing digital economies in the G20

and the highest value of business-to-consumer e-commerce in the developed world.

The number of people starting digital businesses here is greater than ever and our digital tech Industries are growing 32% faster than the rest of the U.K. economy. In fact, our digital economy is not just growing, it is flourishing! Figures from investment banking group GP Bullhound show that eight ‘unicorns’ – tech companies worth more than $1bn – were created here last year. There are now 17 U.K. unicorns – far ahead of Europe’s second-place, Sweden, which has six.

The British government has been hugely supportive of our creative and digital industries and has taken strong measures to ensure the U.K. retains its competitive edge in the global market. One of these measures, as the minister mentioned in his comment, has been the introduction of an attractive suite of tax reliefs for film, high-end TV, video games, animation and theater. As a result, major U.S. film and TV productions like Star Wars, Game of Thrones (based out of Northern Ireland at Belfast’s Titanic Quarter), and even Captain America are flocking to shoot here.

More generally, the government has also introduced significant measures to make the U.K. one of the very best places to invest and do business in the world. It has lowered corporation tax, introduced competitive R&D tax relief, cut red tape, and invested heavily in digital infrastructure.

MediaCityUK, a new waterfront destination for Manchester, with digital creativity, learning and leisure at its heart. Regional home to both the BBC and ITV

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PRACTICAL ADVICE

The U.K. has some of the very finest creative talent on the planet. As a nation, we are known for thinking the unthinkable. From Alan Turing, inventor of the world’s first computer, through to John Logie Baird, inventor of the TV, Sir Tim BernersLee, originator of the World Wide Web and, more recently, DeepMind whose artificial intelligence algorithms created the first computer program to ever beat a professional player at the game GO – we have an impressive history of initially barmy but very quickly profitable and game-changing innovations.

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CREATIVE INDUSTRIES

Geographically, London of course represents one of our nation’s greatest assets. It occupies a unique position as a global leader – and talent magnet – for almost every sector of the digital and creative industries. It is one of the most cosmopolitan, creative, and cultural hubs on Earth, not to mention a global financial hub.

PRACTICAL ADVICE

But the U.K. is advantaged by having at least a dozen major cities with significant clusters of digital and creative specialties which are much more than pale and partial imitations of London – Brighton, Bristol, Cardiff, Cambridge, Dundee, Liverpool, Manchester, Belfast, and Birmingham to name but a few. Indeed, according to a recent report from Tech City UK, over 75% of the U.K.’s digital and tech businesses are based outside of the capital.

And more brands are starting to recognize the power of collaboration with digital and creative start-ups and the benefits of outsourcing innovation. A recent Accenture survey of 1,000 big companies in the G20 found that revenues generated by collaboration with start-ups and entrepreneurs on innovation currently represents as much as 9% of total revenues. This is predicted to rise to 20% as soon as 2020.

But it is not always easy for big and small businesses to access the right collaborations. Effective and reliable brokerage is key and that is where Creative England can help. We work with hundreds of fantastic early-stage digital creative businesses all over England and we are well placed to connect big brands with the exciting, disruptive companies of tomorrow.

Creative England, the not-for-profit company I lead, is committed to building the creative economy across the country, helping to create the right conditions for creative people and companies to thrive. Our focus is very much at the early stage of the business cycle and, from direct investment to business support, we help the new generation of creative entrepreneurs take the next steps from prototype, proof of concept or pilot to revenue generating business.

One of our most recent partnerships saw us team up with The Walt Disney Company to challenge small creative content companies to develop a new digital prototype to help inspire families to lead healthier lifestyles. Following a host of fantastic proposals from business all across the country, Disney and Creative England jointly selected three companies to take their proposals forward with co-commissioned development awards.

Now in our fifth year, we have developed a strong network of creative businesses and talented individuals across the whole country. Most of them initially came to us as ambitious young start-ups with an innovative digital solution or novel content proposition and some of them are now doing truly great things.

If your business would be interested in harnessing the power of this country’s many small, but exceptionally talented, creative businesses, then do get in touch. Creative England’s door is always open to establishing more corporate partnerships and developing new cross-sector challenges for Britain’s creative entrepreneurs.

Pixel Toys, for instance, is a three year old mobile video games developer from the fast-growing Spa, Warwickshire digital cluster. It was just an energetic two-man start-up with a great idea when it first approached Creative England for investment in 2013. Fast forward to last fall and Pixel Toys was handpicked by none other than Apple to demonstrate the graphical and technical capabilities of the new iPhone 6S at an exclusive launch event in San Francisco (with millions of worldwide viewers online). It was the only games company invited to do so.

In recent years, we have been pioneering an approach that links these small digital creative companies to the supply chains of big businesses including Microsoft, Playstation, Entertainment One, and the BBC. Why do we do this?

Because in all the conversations I have with business leaders, access to creative talent and innovation is among their most pressing business challenges.

And it is an increasingly important challenge for big business to address. As the digital revolution continues to disrupt and transform more industries, brands that struggle to keep up with the pace of innovation can end up paying a heavy price. This is where collaborating and partnering with start-ups can help.

Entrepreneurs are using cutting-edge technology, creativity and innovation to address market needs across a wide number of sectors. And connecting early stage SMEs to established corporates generates benefits for both parties – big companies prize the raw, unconstrained thinking and abilities small, young creative and digital businesses can bring to them. For early-stage businesses, huge benefits can be reaped from access to a large company’s networks, as well as brand legitimization and access to mentoring from experienced business leaders.

For further details, please contact: Email: ceomail@creativeengland.co.uk Website: creativeengland.co.uk Twitter: @creativeengland

Caroline Norbury, MBE is the founding Chief Executive of Creative England and dedicated to championing the creative industries. Creative England invests in and supports creative ideas, talent and businesses in film, TV, games, and digital media.

Creative England is working to build the right environment for the future of the creative industries by helping them raise their ambition, create jobs, grow turnover, and build the confidence and networks they need to be truly innovative.

Caroline is a member of BAFTA, the Royal Society of Arts, the UK Trade & Investment Creative Industries Sector Advisory Group and leads on the work of the UK Creative Industries Council Access to Finance group.

She was awarded an MBE in 2012 for services to the film industry.

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FASHION

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The British Fashion Industry

By Caroline Rush CBE, Chief Executive, the British Fashion Council

This report for the first time allowed the British fashion industry to be recognized alongside industries of similar scale in the

Antonio Berardi AW16, Front of House (Kris Mitchell, British Fashion Council)

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U.K. such as automotive and telecommunications. The report has since been updated to see the sector grow to $37bn with increased productivity.

Retail dominates the British fashion industry; however, uniquely it is the high street’s relationship with the designer sector, in particular small creative businesses, that creates excitement and on-going innovation.

Innovation is the hallmark for British fashion businesses. The British designer sector is showcased through events such as London Fashion Week. In terms of the number of businesses and size of businesses participating, London is known as the smaller of the ‘big four’ fashion weeks, yet in terms of reputation for creativity, trend setting, and innovation, it has defined its position firmly at the front.

Burberry, the U.K.’s largest designer fashion business, has played a role in leading innovation through the integration of technology and connectivity with other creative sectors. The Burberry business has set goals for many designer businesses

PRACTICAL ADVICE

The British fashion industry was defined as a whole for the first time in 2009 as part of a study commissioned by the British Fashion Council and undertaken by Oxford Economics. The fashion industry, particularly the designer sector, had suffered for many years for being undervalued and in many ways misunderstood. The 2009 report found that the fashion industry contributed $30bn to the British economy, directly employing almost 800,000 individuals. It also identified that the U.K. industry operates in a dynamic demand cycle, with creativity and innovation fueling the sector as a whole, meaning the designer sector itself plays a significant role.

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FASHION

Fashion East AW16 Backstage (Eeva Rinne, British Fashion Council)

in the U.K., increasing the aspiration to develop global fashion brands with entrepreneurism and innovation at their heart.

The British Fashion Council plays a significant role in not only promoting the industry and hosting fashion weeks but also offers the most robust pathway to support small creative businesses to grow. The Council, supported by retailers and other partners, is able to identify talent, offer bespoke business support, financial grants, and tap into a well-developed network of industry mentors willing to offer their expertise to develop talent and develop businesses. The British Fashion Council is not alone in this space; there are incubator schemes such as the Centre of Fashion Enterprise and the Trampery who are able to offer studio space and shared equipment as well as business support.

PRACTICAL ADVICE

Over the past ten years the British Fashion Council has focused on increasing support for small businesses, taking them from start-up through to first stage investment. NEWGEN, a designer support initiative run by the British Fashion Council started in 1993, is globally recognized as the blueprint for supporting young talent having supported designers from Alexander McQueen through to Christopher Kane in their early years development. The British Fashion Council has been able to build on their experience in supporting talent to broaden the reach to include more contemporary businesses, accessories, millinery, and fine jewelry.

London’s wealth of talent is credited to the fashion colleges in the U.K. such as Central Saint Martin’s and the Royal College of Art who are seen as global leaders in developing creativity, an essential ingredient for businesses that have to constantly innovate.

The creativity factor in businesses is incredibly desirable as it offers a unique DNA that will enable a business to stand out in a crowded market. Understanding how to identify that creativity and to harness it to build brands and successful businesses has in the past been seen as a challenge to some wanting to enter the sector.

The U.K. Fashion Industry and it’s Wider Economic Impacts

Over the past few years the British Fashion Council has broadened its focus from promoting designer businesses to the fashion retailers and media, to working closely with Government, connected businesses in technology and finance in order to help these organizations better understand how to engage with and take advantage of the opportunities in the sector.

The Government has played a pivotal role in supporting the sector with grants from the Mayor of London and UK Trade & Investment to support export and investment initiatives. From Washington, to New York and LA, local Government offices have made fashion a key part of their promotion of British industry, with the GREAT Campaign leveraging the reputation of British fashion’s creativity to generate interest in developing trade partnerships.

The scale of the market in the U.S., the common language and the close working relationships between designers, retailers, media, and technology partners means that there has never been a better time to develop new partnerships and new opportunities for collaboration.

Certain products (designer fashion, knitwear, sportswear, streetwear) are accounted for in broader data categories such as menswear, womenswear, accessories etc. Therefore, whilst designer fashion, knitwear etc do form part of our estimate of direct GVA, their individual contribution is not identified specifically.

Over the past five years there has been considerable interest in investing in British fashion businesses, from retailers to designers showing on the London catwalks.

Helping individuals and the finance sector as a whole better understand the fashion industry is important to developing new opportunities and new partnerships. A 2011 study ‘Risky

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FASHION

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PRACTICAL ADVICE

Mary Katrantzou, SS14 (Dan Sims, Backstage, BFC)

Business’1 was created to help dispel the myth that investing in fashion is no more or less risky than other businesses, in fact there are many success stories to evidence this.

story, has created a connected global network of independent retailers, increasing their reach and the profile of the designer businesses stocked.

The success of our retail sector can be seen globally with British retails such as New Look, River Island, Superdry, Ted Baker, Karen Millen, Reiss, and Topshop in the high streets of many global cities. These successes, and the shared knowledge gained from them, have developed the profile of British businesses internationally.

Technology continues to play a key role in revolutionizing the fashion industry, from creating connected communities, to assisting businesses to better connect with their consumers.

Technology businesses are investing in the sector, with opportunities for smart fabrics, wearables as well as business solutions that create better visibility and transparency for business owners. The U.S. and the U.K. share an appetite to embrace technology and to find ways of modernizing, streamlining, and increasing productivity in business.

Similarly, the leadership and innovation in online-retailing has increased the profile of entrepreneurs in the fashion industry. The digital revolution in fashion started in the U.K. with Net-a-Porter, widely recognized as the game changer in selling luxury online, and ASOS, the fast fashion/contemporary equivalent, both launching in 2000. These names have gone on to influence and lead the sector today. Many others have of course followed in their footsteps, but both retailers remain at the forefront of the industry today. In fact London continues to disrupt and innovate. Farfetch, a more recent success

The global fashion industry is now worth an estimated $3 trillion with online sales growing at 16% every year, and U.K. menswear sales are at $20bn. The fashion business provides a great opportunity for great creativity matched with great entrepreneurs. It is a truly global industry, requiring careful management of finances, logistics, and supply chains but it also provides an incredible platform to communicate with consumers and has undoubted connections with glamour.

British businesses have the appetite for leadership and change, they have collaboration in their DNA and are open and interested in creating partnerships to develop creative businesses for the future.

For more information, visit www.britishfashioncouncil.co.uk

Holly Fulton AW16, Backstage (Sam Wilson, British Fashion Council)

1 Risky Business, Hellen Burrows and Kitty Usher for DEMOS

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OFFSHORE RENEWABLE ENERGY

Offshore Renewable Energy – the U.K. Opportunity

PRACTICAL ADVICE

Comment from the Offshore Renewable Energy Catapult The U.K. continues to play a leading role in technology innovation and has made significant progress in reducing the levelized cost of offshore wind energy (LCoE), with the industry on track to achieve a Government target of £100/ MWh (approx. $145/MWh) by 2020. 2015 was a particularly successful year for the sector as the U.K. continued to increase its offshore wind capacity to over 4GW.

Progress continues in the supply chain:

There has been much coverage of the challenges faced by the marine energy sector, but there is also considerable progress being made in key areas and the potential opportunities remain well worth the pursuit.

MARINE ENERGY

OFFSHORE WIND In 2015, offshore capacity in the U.K. increased to over 4GW, with growth in offshore wind installed capacity expected to reach 10GW by 2020.

The U.K. generates more electricity from offshore wind than any other country in the world, meeting around 5% of annual U.K. electricity requirements, and has more offshore wind turbines than the whole of the rest of Europe, with significant potential for more.

In 2014 the U.K. government implemented the final stages of a significant new framework for the electricity generation sector with the first allocation of contracts under the Contract for Difference (CfD) scheme. Over 3GW of offshore wind capacity was allocated and the first auction took place in February 2015, where 1162MW of offshore wind capacity was allocated.

In terms of investment opportunities, the U.K. holds its place as the number one country for offshore wind in the EY Renewable Energy Country Attractiveness Index.

• In November 2015 Siemens started construction of their turbine blade factory and a service operation center at Green Port in Hull. Completion is due in fall 2016, and is expected to provide around 1,000 jobs.

• MHI Vestas Offshore Wind has commenced recruitment of over 200 skilled jobs at their blade manufacturing facility on the Isle of Wight. The new positions have been created to fulfill the demand for DONG Energy’s 258MW Burbo Bank Extension project as well as future offshore wind projects.

With a global market worth $108bn across 50 countries, it is estimated that wave and tidal energy could contribute about $5.7bn to U.K. GDP by 2050, offering strong export opportunities and the potential to increase the number of skilled jobs from the current 1,700 to around 20,000 in the next decade.

U.K. waters have some of the best marine resources in the world and the industry is well placed to exploit them. There is good, continuous tidal flow between the Atlantic and the North Sea, and large wave fetch created by the Atlantic winds.

Whilst the capability to extract energy from tides is more advanced than from waves, both industries are still at the early stages of technology development and have the potential to supply about 20% of the U.K.’s electricity, which would offset approximately 33 million tons of CO2 emissions each year.

The challenge the industry faces is to develop its ability to extract marine energy economically and cost competitively compared to other sources of energy generation, whilst at the same time balancing the needs of the marine community.

We can achieve this with industry and academia working collaboratively to focus on the sector’s main technology challenges, managing risk, and supporting the growth and productivity of the U.K. supply chain.

Key National Statistics 2014: United Kingdom Total (net) installed wind capacity

13614 MW

New wind capacity installed

806 MW

Total electrical output from wind

32.36TWh

Wind generation as percent of national electric demand

11%

Average national capacity factor

34%

Target:

15% primary energy from renewables by 2020

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OFFSHORE RENEWABLE ENERGY

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THE OFFSHORE RENEWABLE ENERGY CATAPULT

CASE STUDY

The Offshore Renewable Energy (ORE) Catapult is the U.K.’s flagship technology innovation and research center for offshore wind, wave, and tidal energy. With locations in Glasgow and Fife in Scotland and Blyth in northeast England, it works with industry and academia to identify, develop, prove and de-risk promising new technologies and bring them to market, helping to reduce the cost of offshore renewable energy, supporting the growth of the industry and creating U.K. benefit.

The Cost Reduction Monitoring Framework (CRMF)

In December 2015, ORE Catapult also acquired a 7MW offshore wind demonstration turbine off the coast of Levenmouth in Fife, Scotland. This is the world’s most advanced, open access offshore wind turbine dedicated to research and product validation. It also offers complementary opportunities for training and development of skills vital for the future of the offshore wind industry.

In conjunction with our testing and demonstration facilities, ORE Catapult regularly participates in large-scale collaborative R&D and innovative commercial and public-funded projects, amassing vast technical knowledge and know-how to improve reliability and reduce the costs of offshore renewable energy.

Our multi-disciplined team of highly qualified researchers and engineers, coupled with our full-scale testing facilities, has developed specialist knowledge and expertise in the areas of blades, drive trains, electrical infrastructures, and Operations & Maintenance.

ORE Catapult’s 7MW Levenmouth Development Turbine off the east coast of Scotland, the world’s most advanced, open access offshore wind turbine dedicated to research and product validation

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The second annual Cost Reduction Monitoring Framework (CRMF) report, delivered by the ORE Catapult on behalf of the Offshore Wind Programme Board, shows that investment in turbine technology has delivered significant cost benefits, but that further reduction will need to come from the innovations in ‘balance of plant’, such as foundations, cables, and substations.

Investment in research and development and manufacturing industrialization to deliver such improvements, the report warns, will only come with greater visibility of future rates of deployment and market size as Government sets out details of contracts for new offshore wind farms.

Of the 13 cost reduction indicators in the report, all but one are ahead or on target with the milestones set for 2015. Findings show that industry has already adopted innovations that were not previously expected to significantly drive cost reduction until 2017, particularly in the areas of turbine design and project maintenance.

The report also assessed the degree of confidence that the industry has in delivering further cost savings.

It found high confidence of delivery in eight of the indicators, with medium confidence in a further three, to achieve the milestone of £100/MWh (approx. $145/ MWh) in 2020.

ORE Catapult undertakes applied research projects from Technology Readiness Level 3 to 8 – ranging from proof-ofconcept and system tests, through to demonstration and commercialization. We have a strong track record, securing more than $100 million of European and national research

PRACTICAL ADVICE

Our site in Blyth has the most comprehensive open access and independent test and research facilities anywhere in the world to enable the scale-up of offshore renewable energy technologies. The facilities include a 15MW wind turbine nacelle drive train test facility, 50m and 100m blade test facilities, 3MW tidal turbine drive train test facility, three dry docks, and a United Kingdom Accreditation Service (UKAS) accredited electrical and materials laboratory. These reliability, design verification and accelerated life testing facilities have been developed to meet demand from manufacturers and technology developers looking to commercialize offshore wind, wave, and tidal energy technologies, reduce costs and tackle technical and operational challenges.

The CRMF 2015 report, published March 14th, 2016, has provided strong evidence that the cost of energy from offshore wind continued to fall through 2015 and remains on track to deliver the target of £100/MWh (approx. $145/MWh) by 2020.

OFFSHORE RENEWABLE ENERGY

Atlantis Resources

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PRACTICAL ADVICE

The Atlantis AR1500 tidal energy turbine, due for deployment in the world’s first tidal array off the north coast of Scotland by the end of 2016, following accelerated life testing at ORE Catapult’s National Renewable Energy Centre in northeast England

and development projects, and collaborate widely with a global network of universities, industry and governments to secure breakthroughs in the design, deployment and commercialization of renewable energy technologies. We play a key role in international renewable energy activity, working closely with organizations such as IEA Wind, the European Energy Research Alliance (EERA), EUREC, and TPOcean, advising on their EU and international energy strategy related to offshore renewable energy R&D. We also sit on industry steering groups and advisory boards, such as SuperGen Wind and SuperGen Marine, as well as International Standards Committees such as the IEC and BSI. To help us engage with academia and industry, we have established specialist advisory groups. Our Research Advisory Group provides clear, consistent and representative academic and specialist research advice, and works in partnership with our Industry Advisory Group who help define, refine and adapt R&D objectives and facilitate access to expertise and capability in the U.K. and beyond.

Electricity Market Reform has helped to reduce financial risk up to 2020 but the lower than forecast capacity allocation and the lack of certainty beyond 2020 could impact investment in new technology and slow down further technology development that will lead to cost reduction.

The United Kingdom remains a world-leader in the wind sector.

2015 has seen progress being made in terms of growth of installed capacity and electricity generated. The potential for the sector to deliver economic growth and significant employment has been demonstrated. The sector must work closely with policy makers to ensure the benefits will be realized. Through the work which the Catapult is involved in, there are some promising developments ahead at all stages of technology maturity, as offshore wind moves towards cost parity with conventional forms of energy generation, and marine energy to commercial viability.

For more information, visit ore.catapult.org.uk

THE FUTURE OUTLOOK With a forecast installed base of 10GW by 2020 and up to 20GW by 2030, the wind sector has established itself as a significant contributor to sustainable and secure energy and has demonstrated that, with the right investment in innovation, costs can be reduced further. The second Cost Reduction Monitoring Framework report provided strong evidence that the offshore wind sector in the U.K. is on track to reach £100/ MWh (approx. $145/MWh) by 2020 and showed that there is a continued path for further cost reductions beyond that.

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LOGISTICS

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Sea, Air and Land – the Logistics Industry in the U.K.

By Robert Keen, Director General of the British International Freight Association (BIFA)

In terms of current freight industry matters, 2016 sees two significant legislative changes that will affect companies active in the delivery of freight and logistics services in the U.K. There will be the implementation of the European Commission’s Union Customs Code (UCC) in May and the amendment to SOLAS requiring the verification of gross mass of containers prior to loading in July. As well, there remains no resolution to the question of whether London Heathrow will get the goahead for a third runway. Other topics arise, such as aviation security charging, cyber attacks, and a review of the liner consortium block exemption, amongst many others.

In container shipping, services continue to be rationalized and the P3 alliance will impact on the number and frequency of services available to and from the U.K. In the U.K. ports sector, we are witnessing significant developments in all of the U.K.’s major container ports as well as the appearance of a new super port with the opening of the

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London Gateway. At the start of the year, DP World London Gateway Port welcomed one of the world’s largest container ships carrying a record 18,601 TEU (Twenty Foot Equivalent Units). The UASC owned Al Muraykh chose to call at DP World London Gateway to unload 3,800 containers.

In airfreight, the debate is firmly centered on U.K. aviation capacity. While the options have been narrowed to a choice between London Gatwick and Heathrow (LHR), politics has entered the decision making. An LHR option remains popular with freight forwarders but vocal opposition from neighboring communities remain.

Like the U.S., the U.K. has a significant number of freight forwarding and logistics businesses which can collect your cargo as soon as it touches U.K. soil, see it through U.K. Customs and then move it on to the final destination. If instead you use a global freight forwarder that you are familiar with at home, they are likely to have U.K. branches that will do the same for you.

The range of potential transport providers is bewildering. With around 3,000 freight forwarders vying for your business, how can you decide which might be the best forwarder to handle your cargo? Naturally I would advise you to choose a BIFA member. With more than 1,500 corporate company members that account for more than 85% of all business handled by freight forwarders in the U.K., there is plenty of choice – small, medium, or large.

PRACTICAL ADVICE

Time spent studying developments within the U.K.’s intricate and comprehensive freight transport and logistics infrastructure and networks will give any U.S. company a flying start if it is thinking about trading with U.K. businesses and/or individuals, or setting up a manufacturing or retail facility in the country.

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LOGISTICS

Trade facilitation, regulatory compliance, and supply chain security are important issues, which affect any company involved in trading internationally to and from the U.K. With security of the supply chain central to international trade post 9/11, you should also look at your potential U.K. partner’s commitment to this particular issue. Is the U.K. forwarder an accredited Authorized Economic Operator, or showing some commitment to becoming one?

PRACTICAL ADVICE

The AEO scheme is a Europe-wide scheme to guarantee that the company complies with the latest security measures to guarantee the safety of the global supply chain. Like the C-TPAT that you will be familiar with, AEO status means that the company has undergone rigorous examination of its systems and methods of operation. Freight forwarders continue to lead the way in U.K. applications, despite the program’s aim of controlling all supply-chain operators.

The use of a U.K. freight forwarder will also be helpful in dealing with the electronic communication of data to H.M. Revenue & Customs (HMRC), the U.K.’s national tax gathering organization.

U.K. freight agents and the international trading community which they serve, are in the midst of the biggest upheaval in EU Customs ever under the modernized Customs’ Code.

Never before in U.K. commerce has there been such a need as now to exchange data electronically with a greater number of people, commercial players as well as governments and customs players throughout the supply chain.

Customs authorities throughout the 28 EU states are engaged in a process of centralization and automation which aims to add security to the supply chain as well as speeding up processes and customs clearance, leading to a significant rise in compliance issues for any company involved in global trade and international supply chains.

BIFA members have also developed a wide range of valueadded services for their clients of which you can take advantage. These can include local warehousing, order picking, sorting, labeling, packaging, and final assembly of goods prior to distribution.

With ports and airports constantly improving surface access, hinterland connections for freight are easily made on road or rail modes. There is little inland water traffic in the U.K. Many port developments and expansion schemes are being planned and developed.

SURFACE FREIGHT In the U.K., road and rail freight services are key to the distribution of freight. The country is blessed with an efficient network of commercial ports and terminals and has multiple shipping line services. Ports can be all-purpose such as Bristol, Southampton, Tilbury (Thames estuary), and Liverpool, ferry ports such as Dover and Poole, or dedicated container ports such as Felixstowe, Thamesport, and the recently opened London Gateway.

The majority of cargo goes through one of the top 16 ports and it is important to work with your shipping line partner to select the best port gateway in order to reduce the road or rail leg, and avoid many the choke points which can affect the U.K. road transport.

Decades of investment in the U.K.’s highway system has influenced the development of regional distribution centers (RDCs) which are strategically located within planned and modern business parks organized to have effective access to key road and highway routes.

Very few parts of the U.K. mainland are more than three to four hours from a mainline U.K. port and a comprehensive portfolio of ferry services makes access to mainland Europe relatively trouble free, supported by the Eurotunnel rail link to

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LOGISTICS

Consolidated trucking services for individual pallets or small consignments are still very popular in the U.K., especially to serve many of the more remote destinations. While much of the U.K. is urbanized, there remain many companies and individuals located on the margins of the populated areas.

This is particularly so in Scotland and northern England where consolidated services are actively promoted to cut down on carbon use in transport.

All railroads in the U.K., whether passenger and freight, are private companies operating services on a State-owned national rail network. Managers at the freight railroads have long recognized that the future of U.K. rail freight is in intermodal services. The fact that most of the railroad system was built to Victorian clearance standards means that there are none of the double-deck container trains you are familiar with at home.

However, significant investments in track improvements, is giving greater height clearance and enabling hi-cube containers to be handled at more ports.

In addition to the road industry’s business parks, the U.K. is blessed with rail-connected freight villages, also known as logistics parks, developed since the 1990s. These have been planned as part of point-to-point networks where containers can be delivered for collection and onward distribution by road. Key freight villages include Cabot Park in Bristol, DIRFT in the English Midlands, and Wakefield Europort in the north of England.

IN THE AIR Air freight is also well served by the main cargo gateways of London Heathrow, Gatwick, Manchester, East Midlands, and Stansted, as well as the integrator hubs. For all airports, connections with the national highway grid are convenient and well-planned.

As ever, aviation security matters continued to play a central role in the U.K. supply chain and the focal point of interest at

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present centers on the transition of responsibility for security compliance from the Department for Transport (DfT) to the Civil Aviation Authority (CAA).

The CAA and the DfT are jointly drawing up a program to replace the random “direct and inspect” snapshot type compliance verification processes with an alternative based on continuous self-auditing quality assurance processes.

SERVING NORTHERN IRELAND Companies investing in the U.K. sometimes forget that the country also includes Northern Ireland. Whilst this may be physically separate from the U.K. mainland, there are plenty of direct ferry services, some freight only, which serve Belfast and Stranraer, Northern Ireland’s two main ports.

GET IN TOUCH With a population that is predominantly urban, the U.K.’s towns and cities are places where businesses, commercial and residential addresses co-exist, which can cause headaches for the transport provider and any companies involved in delivering to the high street.

BIFA would recommend that any companies planning to invest in the U.K. should take some time to observe the transport industry in action. We would also encourage you to contact potential forwarding partners, or the trade association itself, for hands-on, local knowledge.

The logistics side of your business is as important to your success as any other part of your company’s activities. There is an abundance of further information about U.K. freight transport and logistics on BIFA’s newly redesigned and informative website, designed to be available for display on PCs, laptops, netbooks, tablets, and smart-phones, which I would encourage you to visit at www.bifa.org

PRACTICAL ADVICE

and from mainland Europe, which provides cross-Channel shuttles for rail freight. This might be especially relevant if you are considering expansion further into the EU at some point in the future.

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50

EDUCATION

The World as a Classroom: The Life-long Journey of Education

CCTV Operator

PRACTICAL ADVICE

By Mary Mitchell, Associate Director of Marketing and Communications at TASIS The American School in England When considering the impact of accepting an international assignment, globally mobile families assess many factors. Those with school-age children often worry about the possible disruption of their children’s education. Differences in school systems, unfamiliar surroundings, and the distance from family and friends can exacerbate the challenges that all students face when changing schools.

However, expatriate students are rewarded by cultural enrichment, experiences that help them to develop a truly international perspective, and a unique insight into the meaning of global citizenship. Teenagers especially may find that an expat experience offers them an advantage, as colleges and universities on both sides of the Atlantic welcome the global mindset of students who have lived and studied abroad.

Education through travel is not a modern concept. Throughout history travelers journeyed abroad in pursuit of adventure and knowledge, foreign landscapes and new ideas. Often, they brought home the customs and artifacts of other cultures.

For about 200 years from the mid-seventeenth century, “The Grand Tour” was considered an educational rite of passage for wealthy young men in Europe.

Today’s technology, communications, and transportation links make it much easier for people to learn about foreign cultures, perfect language skills, and broaden their view of the world.

For young and old alike, the opportunity to experience a new culture can provide one of the richest sources of learning and personal growth that life has to offer.

OPENING EYES

“The real voyage of discovery consists not in seeking new landscapes, but in having new eyes.”

Marcel Proust, French novelist, critic, and essayist While much of education is undertaken in a classroom or through a textbook, travel is a fulfilling and effective way to extend learning beyond facts and figures. From half-day field trips to gap year treks, first-hand experiences serve to enrich the knowledge and the lives of students of all ages.

Exploring different customs and ways of living broadens students’ minds and widens their frames of reference.

International schools, in particular, recognize and celebrate the

value that intercultural awareness brings to their communities.

The experiential nature of travel – whether during a family holiday or a school-sponsored trip, a year studying abroad or a few weeks in a summer program – allows students to see and understand new perspectives.

Travel can also lead to self-discovery and a re-evaluation of life’s priorities. No education is complete without developing the ability to self-reflect. Getting outside of their home country may provide just enough distance for students to contemplate their role in the world thus far, and what it might look like in the future. Adventures abroad can enhance their understanding of themselves, the world around them, and the real-life implications of lessons learned in the classroom.

OPENING MINDS

“A mind that is stretched by a new experience can never go back to its old dimensions.”

Oliver Wendell Holmes, Jr, American jurist Students look forward to school trips, whether they involve a visit to a local museum or exploring the Coliseum in Rome.

Activities in a dynamic learning environment suit children’s natural curiosity and often result in lasting impressions. A visit to a concentration camp is a moving experience that will be remembered long after the study of World War II has been completed.

School trips and hands-on activities help to put subject matter into context. They can be especially helpful to motivate, capture the interest of, and support students who find traditional classroom learning challenging. Children are able to appreciate their studies from a different, and usually more active, perspective – often enjoying themselves so much they do not even realize they are learning.

Student travel may offer something as simple as the opportunity to explore different types of cuisine, or as intense as total immersion in a different culture. Conversing in a different language will quickly enhance listening and speaking capabilities. Much of the history taught in schools in the U.S. and U.K. follows a Western-focused curriculum, and travel can provide an indispensable way of gaining a real perspective on other parts of the world.

In an interview with the news website Salon several years ago, American author and television host Rick Steves said, “It’s a very powerful Eureka! moment when you’re traveling: to realize that people don’t have the American dream. They’ve got their own dream. And that’s not a bad thing. That’s a good thing.”

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EDUCATION

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Interacting with people from around the world is likely to make students better communicators, with greater levels of empathy and a willingness to understand other points of view. The more people and places they encounter, the broader their experience, and the more ideas they will have to fuel their growth as global citizens.

The independence and self-reliance that results from youthful travel has a positive impact beyond the school years. Study abroad programs, international internships, and volunteering overseas are excellent ways for young adults to experience the joys of travel while furthering their education and developing their skills.

OPENING HEARTS

However, the goal need not be purely educational. Confidence and teamwork are developed while meeting the physical challenges of an outdoor pursuits trip. Carefully chosen, gap year travel can be one of the best forms of higher education, expanding students’ horizons while requiring that practical life skills are put into practice every day. As a result, they develop confidence, problem-solving skills, and initiative – knowing when to ask questions, where to find resources, and how to put a plan into action.

“ Perhaps travel cannot prevent bigotry, but by demonstrating that all peoples cry, laugh, eat, worry, and die, it can introduce the idea that if we try and understand each other, we may even become friends.”

There is a huge difference between being lectured on cultural sensitivity and developing an awareness of cultural norms through first-hand experience. Spending time in another country and learning its history leads to an understanding of its politics, motivations, and social expectations. Finding shared interests, habits, and values breaks down the barriers between “us” and “them.”

Awareness of the great diversity of people and situations throughout the world helps to generate compassion and dispel indifference, while at the same time reducing the stereotyping, biases, and prejudices that develop in daily life.

In this way, travel can be transformational, making it impossible not to recognize how much other people matter in our increasingly interconnected world. Many charities benefit from students volunteering their time and energy to projects designed to improve life for the less fortunate.

An alumna of TASIS The American School in England, who is currently creating a program for International Service Outreach at her university, explained, “Community service travel gave me the opportunity to discover the person I am, and the person I strive to be. I was introduced to the simple art of helping others, and that has forever changed who I am and how I see the world.”

OPENING DOORS

“ My message, especially to young people is to have courage to think differently, courage to invent, to travel the unexplored path, courage to discover the impossible and to conquer the problems and succeed. These are great qualities that they must work towards.”

A. P. J. Abdul Kalam, scientist, politician, and 11th President of India

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The ability to speak a second language and communicate effectively – and without offense – in a culture that is not your own is always beneficial. Travel abroad also develops highly valued “people” skills such as the ability to relate to others, negotiate, understand divergent viewpoints, and work with people of varied backgrounds. A person who adapts well, embraces change, and reacts appropriately to different situations already has the qualities of a leader.

Awareness of cultural values and norms is not only fascinating, but can also help in understanding international issues and conflicts, and improve communication on both a business and personal level. In an increasingly globalized corporate world, the confidence and cultural sensitivity that comes from living abroad, along with the ability to navigate foreign environments, is highly valued by employers.

The opportunity to travel overseas at a young age can have a positive influence on school performance and lead to successful careers. It certainly increases the likelihood of continued travel in adulthood. Knowledge is the ultimate goal – those that love exploring the world, that see life as a journey of learning, continue to educate themselves long after the last school bell. Travel makes the world their classroom.

TASIS The American School in England offers a challenging American curriculum with Advanced Placement courses and the International Baccalaureate Diploma Programme to day (ages 3-18) and boarding (ages 14-18) students. On its beautiful Surrey campus, students from more than 50 nations are encouraged to become tomorrow’s global citizens in an atmosphere that promotes character development as well as academic achievement.

For more information please contact: Karen House, Director of Admissions Tel: +44 (0) 1932 582 316 Email: ukadmissions@tasisengland.org www.tasisengland.org

PRACTICAL ADVICE

Maya Angelou, American author, poet, and civil rights activist

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WALES

Introducing Wales

Bangor Wrexham

Swansea

Newport Cardiff

Wales is part of the U.K. – the number one destination in Europe for U.S. foreign direct investment and, according to the World Bank, one of its best major locations for ease of doing business.

As a devolved nation which remains part of the U.K., Wales has a business-focused government that is nimble in its decision-making and quick to support enterprising, innovative firms, while also offering all the benefits and incentives you would expect when setting up a business in the U.K. and more:

Just two hours from London, Wales is home to more than 700 multinational companies, more than a third of which are North American.

• Competitive overheads.

• Wide variety of property and development opportunities.

• First-class digital and real-world infrastructure, giving excellent access to market.

• Unbeatable levels of funding in the U.K. and ongoing government support.

• A skilled labor force, talented professionals and students.

• Commercially-focused academics.

• Nine major global business sectors promoting growth.

• A devolved nation with quick decision-making from a pro-business government.

• A great place to live.

WHY INVEST IN WALES? Because it is a nation that drives success through innovation and enterprise.

U.K. REGIONS

With a population of just over three million and an area that would make it the fourth smallest U.S. state, it is through the combination of innovation and enterprise that Wales punches above its weight on the world stage.

Aston Martin 2016

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WALES

A $78 BILLION ECONOMY1 THAT IS DIVERSE THROUGH INNOVATION Innovation and enterprise are key to the success and diversity of Wales’ range of business sectors, which include: • Advanced Materials and Manufacturing • Construction • Creative Industries • Energy & Environment • Financial & Professional Services • Food & Drink

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CAR MANUFACTURE RETURNS TO WALES Cutting edge manufacturing skills is one reason why productivity in Wales’ Advanced Materials and Manufacturing industry is higher than the U.K. average.

While Wales has a long manufacturing heritage, its focus is on developing new, advanced materials and techniques, through innovation, research, and collaboration between industry and academia, supported by the Welsh Government.

So, when two iconic British car makers were looking worldwide for the perfect location to produce their newest models, they chose Wales, which means car production is returning to the nation after fifty years.

• Life Sciences

In February 2016 Aston Martin announced that the Cardiff Airport & St. Athan Enterprise Zone had been chosen as the location to produce its new DBX crossover vehicle 2020, and creating more than 750 direct, highly-skilled jobs.

• Tourism

Dr. Andrew Palmer, CEO of Aston Martin said:

• Information & Communications Technology

EIGHT ENTERPRISE ZONES For U.S. investors considering where to locate in Wales, its eight Enterprise Zones could be a good starting point.

These are designated areas across Wales where the Welsh Government creates the best possible conditions for businesses to thrive, each having a specific focus on one or more sectors, as well as a range of property solutions to meet your requirements. enterprisezones.gov.wales

“Through a detailed evaluation of over 20 potential global locations for this new manufacturing facility, we were consistently impressed with the focus on quality, cost and speed from the Welsh Government team. We look forward to St. Athan joining Gaydon as our second center of handcrafted manufacturing excellence.”

One month later, independent British sports car maker TVR announced that its latest high performance model will be manufactured at a new facility in Ebbw Vale Enterprise Zone.

Production is set to commence in 2017 with plans to bring four new models to market over the next 10 years.

TVR Chairman, Les Edgar said:

TVR 2016 1 Equivalent to £54 billion

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U.K. REGIONS

“South Wales is becoming a major hub for automotive and motorsport technology and development and I am delighted TVR is investing here. With our ambitious plans for the future, we believe that Wales provides the right environment to make the project a success.”

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WALES

WALES’ CREATIVE INDUSTRIES Wales does not just produce talented actors such as Batman’s Christian Bale and Homelands’ Damian Lewis, its TV and film writing and production talent creates worldclass, award-winning drama.

Cardiff-based Milk Visual Effects scooped an Oscar for their work on Ex-Machina and two BAFTA Television Craft Awards for Doctor Who, while nearby Bang Post Production won an Emmy for their work on Sherlock.

The capital, Cardiff, is the BBC’s chosen center of excellence for drama production, home to TV drama Doctor Who, Casualty and Sherlock. Some of the other drama productions filmed in Wales include Hinterland, Torchwood, Da Vinci’s Demons, Atlantis, Merlin, and The Bastard Executioner.

The U.K.’s largest independent production group, Tinopolis, is based here. The latest digital enterprise to choose Wales is games developer Relentless Software.

The award-winning firm is opening a new studio here, creating 70 new jobs.

Bad Wolf, a new high end TV drama production company has recently been set up by former BBC worldwide executives Jane Tranter and Julie Gardner.

The duo bring with them a slate of drama productions.

The first of these to be produced in Wales is Philip Pulman’s His Dark Materials.

Wales Screen plays a key role in supporting productions, providing logistical support such as locations, crew, and facilities. Recent productions filmed here include Criminal with Kevin Costner and Ryan Reynolds, Knights of the Roundtable: King Arthur starring Jude Law and a period fashion drama, The Collection is currently shooting at Bay Studios in Swansea.

U.K. REGIONS

“The Welsh Government is keen to promote Wales as a significant and important production center, with the skills, talent, investment and infrastructure to attract and deliver international productions of high quality.”

Doctor Who – The Husbands of River Song

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WALES

THE ENERGY AND ENVIRONMENT SECTOR IN WALES Wales has unbeatable natural resources – the foundation of its prolific low carbon energy generation, coupled with worldclass expertise and backed by the Welsh Government’s drive to become a low carbon nation.

With coastline to the north, south and west, and the tidal Severn Estuary flanking the southern shores, Wales’ tidal, marine, and wind energy yield is a force to be reckoned with.

Over 80 operational wind farms, two new wave and tidal current demonstration zones, plus one of Europe’s largest academic marine science centers, Wales is harnessing all the key renewable technologies in a combined effort driven by business, academia, and government working together.

LIFE SCIENCES IN WALES

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GE Healthcare’s Innovation Village was officially opened in April 2015 to support growing life science businesses that will benefit from being co-located with the company at its Coryton site, near Cardiff.

The Village has created a community of Welsh life science businesses who have access to GE’s distributors and supply chain expertise, and assistance with exploring ambitions to reach global markets. GE sees it creating new business streams and partnerships and having the potential to find solutions to a range of healthcare and biotechnology challenges.

WALES IS A GREAT PLACE TO LIVE Wales offers a fantastic lifestyle – part of the reason why staff loyalty and retention levels are higher than the U.K. average.

From established household names to the newest major players, life science businesses choose to innovate in Wales for the skills, easy access to market, and support from a Government that considers this a priority sector.

With three National Parks, 641 castles, mountains, and a 2,500-year Celtic heritage packed into a country that’s just 159 miles long and 59 miles wide, the great outdoors is on every doorstep.

World-leading stem cell regenerative therapy company, ReNeuron, has recently established its new HQ in south Wales. Part of a $48.1 million equity and grant financing package from the Wales Life Sciences Investment Fund, the move will create the U.K.’s most advanced commercial cell manufacturing facility.

With coastline on three sides, the 870-mile Wales Coast Path – the first of its kind on the planet – traces the entire length through pretty seaside villages and over dramatic clifftops.

“ Working with Welsh Government, which is a smaller administration… things happen quickly,

“ Wales can also offer the ability to hire good people out of good universities.”

Michael Hunt, Chief Financial Officer, ReNeuron.

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Cardiff, Wales’ capital city, is a U.K. top five retail location with modern shopping malls and independent boutiques in historic Victorian and Edwardian arcades, while also being a ‘city of parks’, with more green space per person than any other core U.K. city.

And while Wales has its own world-renowned festivals such as Brecon Jazz and the Hay Festival, it also hosts major international events such as the Ryder Cup and the 2014 NATO Summit.

FIND OUT MORE ABOUT INVESTING IN WALES If you are ready to expand, Wales is ready to support you. Our dedicated business team will be there for you throughout your journey. They will quickly learn your business’ needs, help you evaluate your options, connect you with decision-makers, and determine your funding and support options.

This support will continue in the months that follow your move, from helping you develop your labor force to helping you make new business connections.

Find out what Wales can do for your business Search: Wales.com/business Tel: +1 212-745-0407 Email: walesusa@wales-uk.com Twitter: @InvestWales

U.K. REGIONS

“ As well as the grant support from the Welsh Government, the equity investment cornerstone provided by the fund was instrumental in attracting additional equity funding from institutional investors outside of Wales.

Snowdonia National Park is not just home to Wales’ highest peak, Europe’s longest and fastest zip line is here.

And 100 feet below ground, is the world’s first subterranean trampoline playground where visitors can bounce on huge nets suspended in a cavern twice the size of London’s St. Paul’s Cathedral.

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NORTHERN IRELAND

SMART

DETERMINED

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CREATIVE

Northern Ireland is the UK’s most attractive region for inward investment.

Northern Ireland beats all other regions of the UK when it comes to attracting global investors. Almost 900 international investors including Citi, Allstate, Baker & McKenzie, Seagate and CME are already doing business here.

That’s because we have a seamless, cost-effective business infrastructure, an attractive tax regime that is getting even better, a highly-skilled workforce, and our people have a unique mindset that means they always go the extra mile.

If you want more from a business location, find out about Northern Ireland.

InvestNI.com

Northern Ireland. Altogether more.

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NORTHERN IRELAND

Northern Ireland, The New Sweet Spot for Global Investors

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Derry~Londonderry

Belfast Enniskillen

A sweet spot is defined as the ‘optimum combination of factors or qualities’, a description that perfectly fits Northern Ireland, a small region within the U.K. that is fast becoming a big pull for international investors.

Credentials • Belfast is the #1 destination globally for financial technology investments. (Source: FT fDi Markets, 2015)

The factors and qualities that make the region so appealing include a young, highly educated, and cost-effective labor force, superb telecommunications, a business-friendly environment, a supportive government, and an inherent drive in the people that pushes them to go the extra mile to deliver that little bit more.

• Belfast is Europe’s leading destination for new software development projects. (Source: FT fDi, Markets, 2015)

And the icing on the sweet cake is coming in 2018 – a reduction in the rate of Corporation Tax in the region to 12.5%, on a par with the lowest in Western Europe.

• Belfast has been named the world’s most Business Friendly City of its size and is in the world’s top 10 cities for Business Friendliness of any size. (Source: FT fDi Global Cities of the Future 2015)

It is no wonder then that international investors are taking a close look at this region. This is what they will find.

WELL CONNECTED

• Northern Ireland is the best performing region in the U.K. for attracting inward investment on a per capita basis. (Source: EY Attractiveness Survey UK, 2014)

• Almost 900 international investors and a multitude of investors from the rest of the U.K. have chosen to locate in Northern Ireland.

they need, and the program’s Academy Model delivers these through bespoke, pre-employment training at a local college or university. It has been used to develop skills ranging from data analytics to human resources and cyber security, and ensures investors can recruit staff who can hit the ground running.

WELL EDUCATED

WELL RESPECTED

With a fifth of all public expenditure going on education, Northern Ireland can boast an education system that is considered to be one of the best in Europe and consistently outperforms all other U.K. regions at GCSE and A-level qualifications (high school leaving equivalent). Its two worldranked universities – Queen’s University Belfast and Ulster University – which turn out 15,000 graduates a year, have close links to industry. This ensures that education is aligned with business needs and safeguards the pipeline of talent required by inward investors.

Both universities are also highly regarded as research institutes and are focused on the commercial exploitation of research and development. They have been key drivers in the development of the region’s technology and knowledge industries.

This strong link between industry and academia is evident in the region’s highly successful government-funded training program, Assured Skills. It invites investors to specify the skills

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• Nearly 80% of new investors have already reinvested in Northern Ireland.

As Northern Ireland’s credentials have become known around the world, its reputation as a place that promises much and delivers more has grown. The result has been an influx of new investors in recent years, particularly in the technology, financial services, and legal sectors, joining companies that have enjoyed long-term success in the region.

Global institutions in banking, insurance, asset management, and capital markets including Citi, the Allstate Corp., Liberty Mutual, Augentius, Mercer, Heritage, Lloyds, and Chicago Mercantile Exchange have operations in Northern Ireland. In fact, according to the Financial Times FDI Benchmark, Belfast is the number one destination globally for financial technology investments.

In the legal services sector companies such as Baker & McKenzie, Allen & Overy, Herbert Smith Freehills, and Axiom have chosen to invest in the region, drawn by many factors including the number, caliber and availability of law graduates.

U.K. REGIONS

Part of Europe and the U.K., Northern Ireland has a population of around 1.8 million people, is English speaking and has excellent connectivity to continental Europe and the U.S. Several major airlines operate out of its two main airports and a transatlantic submarine optical fiber link provides 100-gigabyte per second communications to North America and the Continent. This makes it an ideal location for U.S. companies wanting to access European markets for their products and services, or to support their customers from a near shore location.

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NORTHERN IRELAND

Titanic, Belfast

Northern Ireland – an integral part of the U.K. with its own devolved administration • Ideally situated between mainland Europe and the U.S. • Population 1.8 million – 55% under the age of 40.

• Capital city – Belfast.

• Three airports – daily flights to European business centers, Great Britain, and the U.S. • Under 2 hours by road or rail from Belfast to Dublin, the capital of the Republic of Ireland.

• Modern road and rail network.

• The highest availability of superfast broadband in the U.K. 100-gigabyte per second telecoms link between Northern Ireland, Europe, and North America.

WELL POSITIONED FOR COST Operating costs in Northern Ireland are highly competitive.

Investors can save significantly on staff costs compared to many other U.K. or European locations, and prime office rents are low.

Added to this is the low rate of employee turnover and absenteeism – a consequence of the inbuilt work ethic and loyalty of the people – which delivers not just cost savings but also continuity of service.

U.K. REGIONS

The planned reduction in the rate of Northern Ireland’s corporation tax to 12.5% from April 2018 adds a further dimension to the region’s attractiveness to investors looking for the best combination of tax, talent, and value.

It will appeal particularly to tax sensitive sectors such as advanced manufacturing and life sciences/pharma which, coupled with Northern Ireland’s existing strengths in these areas, creates a highly compeling reason to invest in the region.

Investors can also benefit from generous research and development tax credits and from the tailored support packages offered by Northern Ireland’s development agency, Invest Northern Ireland.

WELCOMING

Belfast has also been named Europe’s top destination city for new software development projects. The region’s ICT sector is thriving. To date, over 100 global technology leaders have established business operations there, including IBM, SAP, Fujitsu, Cybersource (VISA), BTI Systems, and Rapid7.

Business and professional services companies are well represented too with Concentrix, Convergys, Alexander Mann, and SSE Airtricity all having operations in Northern Ireland.

The region also has a burgeoning creative industries sector. Belfast’s Titanic Studios is one of the largest and most modern film and television production studios in Europe and is home to HBO’s global TV blockbuster series Game of Thrones. The region’s fast growing expertise in all areas of TV and film production has attracted the attention of film makers worldwide.

Investors in Northern Ireland report that it is an easy place to do business. Indeed, in 2015 Belfast was named the world’s most business friendly city of its size (FT fDI Global Cities of the Future).

They also find that it delivers on its promise of ‘more for less’, which is why 80% of investors, from Citi to Seagate, have reinvested.

One of the factors that makes the region so business friendly is an administration that is accessible, ready to listen and keen to work with industry. Northern Ireland’s devolved government is committed to economic growth and works closely with the business and academic communities to ensure that the region is providing a pro-business environment that stands with the best in the world.

But Northern Ireland is not only a great place to do business; it’s also a great place to live. On a personal level Northern Ireland is hugely welcoming and offers an enviable lifestyle.

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NORTHERN IRELAND

Northern Ireland Trade Links

The U.S. is our largest overseas export market. Some our key exports are food and drink, medical products, transport and construction equipment, high end fit-out and aerospace.

Its compact size means that the sea, the mountains or its beautiful lakes are all within easy reach, as is its vibrant capital Belfast and historic second city Londonderry. For outdoor spirits it boasts world-class golf courses, superb angling and scenic countryside trails; for culture seekers a wealth of historic buildings, theaters, museums and a dynamic music scene.

All of which adds up to a region that is definitely worth taking a closer look at.

Well, what are you waiting for?

DID YOU KNOW: • Over 30% of the world’s airline seats are made in Northern Ireland.

• 40% of the world’s mobile crushing and screening equipment is made in Northern Ireland.

• 25% of the world’s computer read/write heads contain a part made in Northern Ireland by Seagate (U.K.’s largest nanotechnology site).

• 10% of the worldwide total of cholesterol test equipment is made by Randox in Northern Ireland.

• Northern Ireland’s products and services are sold to over 100 countries.

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For more information contact: Invest Northern Ireland Boston Team Tel: +1 617-266-9939 London Team Tel: +44 (0) 207 222 0599 Website: investni.com/invest

U.K. REGIONS

Northern Ireland companies have been successfully exporting goods and services to the U.S. for decades.

Our companies have a wealth of experience in providing innovative and quality products and services that are highly valued by customers.

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English and Welsh Enterprise Zones Enterprise Zones

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21 41 17

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Produced by the Spatial and Statistical Analysis Team, AID Š Crown Copyright and database right 2011. All rights reserved.

Ordnance Survey Licence number 100018986 2011 06 004

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OS Boundary Line

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61

Established in 2012, Enterprise Zones are at the heart of the government’s long term economic plan. By 2017 there will be 55 Zones across England and Wales, specializing in a wide range of business sectors.

1 Alconbury Enterprise Campus, Cambridgeshire Area: 370 acres at Alconbury Weald Sector focus: Advanced Manufacturing/ Engineering, ICT, Industrial Biotechnology, Low Carbon Industry Website: alconbury-weald.co.uk/ enterprise-campus

7 Bristol Temple Quarter Area: 173 acre site in central Bristol sited around the mainline station (two hours to London) Sector focus: Business and Legal Services, Creative Industries, Financial Services, ICT, Low Carbon Industry Website: www.bristoltemplequarter.com

2 Aylesbury Vale, Buckinghamshire Area: Thames Valley: Silverstone Park, Westcott Venture Park and Arla/Woodlands Sector focus: High Performance Technology/ Motorsport, Aerospace/Space Propulsion, Environmental Engineering, Agri-food/Human Health Website: silverstone-park.com Website: www.westcottventurepark.com

8 Cambridge Compass Area: Spread over five sites – Lancaster Way, Ely; Cambridge Research Park, Waterbeach; Cambourne Business Park; Haverhill Research Park, and Northstowe (to be the largest new U.K. town built since the 1960s) Sector Focus: Life Sciences

3 Bath Enterprise Area, Somerset Area: Nine riverside development sites totaling 242 acres Sector focus: Creative Industries, Professional, Financial & Business Services, Information Technology, and Software Development Website: www.investinbath.co.uk/ why-bath/new-developments/ bath-city-riverside-enterprise-area

5 Black Country, West Midlands Area: Darlaston (3 miles S.W. of Walsall) and i54 (3 miles N. of Wolverhampton) totaling 300 acres Sector focus: Advanced Manufacturing/ Engineering, Aerospace, Automotive, Low Carbon Industry Website: www.blackcountrylep.co.uk/ business/enterprise-zone Website: www.i54online.com 6 Blackpool, Lancashire Area: Blackpool Airport Sector Focus: Energy, Automotive Website: bfwedc.co.uk/invest/strategic-sites/ blackpool-airport-enterprise-zone

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10 Ceramic Valley, Staffordshire Area: Seven sites totaling 350 acres in the region of Stoke-on-Trent Sector Focus: Automotive, Engineering, Ceramics Industry Website: www.makeitstokestaffs.co.uk/ locations/ceramic-valley-enterprise-zone 11 Cheshire Science Corridor Area: A corridor between Liverpool and Manchester and including Capenhurst Technology Park; Thornton Science Park; Birchwood Park’s Nuclear and Forensics Clusters; Alderley Park (Life Sciences) and Jodrell Bank and the Square Kilometer Array Sector Focus: Pharmaceuticals, Chemical Engineering, Energy and Nuclear Engineering, Radio-astrophysics and Astronomy Website: www.871candwep.co.uk/ strategic-priorities/science-corridor 12 Discovery Park, Kent Area: 150 acres situated 14 miles E. of Canterbury in Sandwich, Kent, 90 minutes by high-speed rail to London Sector focus: AgriFood, Business Services, Energy, Industrial Biotechnology, Pharmaceuticals & Healthcare Website: www.discovery-park.co.uk/about/ enterprise-zone

14 Harlow, Essex Area: 126 acres situated between Cambridge and London with easy access to London, Cambridge and Stansted Airports Sector focus: Advanced Manufacturing/ Engineering, Aerospace, Creative Industries, Pharmaceuticals & Healthcare Website: harlowez.org.uk 15 Hillhouse Chemicals and Energy, Lancashire Area: 341 acre site at Thornton-Cleveleys, on the Fylde coast, northwest England Sector Focus: Advanced Manufacturing, Energy, Chemical Manufacturing 16 Hereford Area: Skylon Park, a 178 acre business park situated on the outskirts of Hereford, within a 1½ hour drive of Birmingham, Bristol and Cardiff airports Sector focus: Defense and Security, Advanced Manufacturing/Engineering, AgriFood, Business Services, Construction Website: www.skylonpark.co.uk 17 Hertfordshire Enviro-Tech Area: 250 acres across 7 sites in W. Hertfordshire, less than 30 miles N. of London Sector focus: Green Technology, Sustainable Construction, Sustainable Transport, AgriTech, Smart Energy and Smart Technology 18 Humber Area: 30 sites totaling 3,059 acres on the N. and S. banks of the River Humber, including city center and port based sites Sector focus: Offshore Wind Energy, Logistics, Food, Advanced Manufacturing Website: www.humberlep.org/business/ enterprise-zones 19 Lancashire Area: Two zones at Warton (185 acres) and Samlesbury (178 acres) Sector focus: Advanced Manufacturing/ Engineering, Aerospace, Automotive

U.K. REGIONS

4 Birmingham Area: 26 sites across the City center totaling 168 acres Sector focus: Advanced Manufacturing/ Engineering, Business Services, Financial Services, ICT, Pharmaceuticals & Healthcare Website: centreofenterprise.com/ez

9 Carlisle Kingmoor Park, Cumbria Area: Over 400 acres 2½ miles N. of Carlisle and within 2 hours of Newcastle, Manchester, Edinburgh, and Glasgow airports Sectors: Advanced Manufacture, Distribution

13 Greater Manchester Life Science Area: Two sites within Corridor Manchester, an Innovation District, south of Manchester city center Sector Focus: Pharmaceuticals & Healthcare

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20 Leeds City Region, Yorkshire Area: 9 sites in S. and W. Yorkshire totaling 255 acres Sector focus: Advanced Manufacturing/ Engineering, Automotive, Construction inc. built environment, Pharmaceuticals & Healthcare, Retail & Logistics Website: investleedscityregion.com/invest/ properties/leeds-city-region-m62-corridorenterprise-zone 21 Luton Airport, Bedfordshire Area: Three linked sites surrounding Luton Airport totaling 395 acres. 25 miles N. of London Sector Focus: Aerospace, Engineering & Advanced Manufacturing, Airline Support Services, Leisure, Hotel and Catering Website: www.thinkluton.co.uk/keydevelopments/london-luton-airport-enterprisezone

U.K. REGIONS

22 Manchester Area: 287 acres across 5 complementary sites close to Manchester Airport and University Hospital South Manchester, including at its core Airport City Sector focus: Advanced Manufacturing/ Engineering, Aerospace, Business Services, Industrial Biotechnology, Pharmaceuticals & Healthcare Website: www.investinmanchester.com/ why-manchester/manchester-airport-cityenterprise-zone Website: www.airportcity.co.uk 23 Mersey Waters, Liverpool and Cheshire Area: 490 acres in two sites on either side of the river Mersey in Liverpool and Birkenhead Sector focus: Advanced Manufacturing/ Engineering, Automotive, Business Services, Energy, Pharmaceuticals & Healthcare Website: peelez.co.uk/content/ enterprise_zone.php 24 MIRA Technology Park, Leicestershire Area: 215 acres N.E. of Nuneaton in the East Midlands of England Sector focus: Automotive, Advanced Manufacturing/Engineering, ICT, Low Carbon Industry, Transport Website: www.miratechnologypark.com

25 New Anglia Enterprise Zone, Norfolk and Suffolk Area: A cluster of sites around the towns of Great Yarmouth and Lowestoft in eastern England totaling 300 acres Sector focus: Business Services, Construction inc. built environment, Energy, Retail & Logistics Website: www.newanglia.co.uk/ enterprise-zone/ Area Extended in April 2016 to include Norwich Research Park, Norfolk (research in food, health and life sciences), Suffolk Business Park, Bury St Edmunds (digital and new media, food and agriculture and high value manufacturing ), Scottow Enterprise Park, nr. Norwich (manufacturing engineering), Egmere Business Zone, N. Norfolk coast (offshore renewables), Greater Ipswich, Suffolk (a cluster of sites around the town), Nar Ouse Business Park, King’s Lynn, Norfolk (home to the King’s Lynn Innovation Centre) and Stowmarket Enterprise Park, Suffolk (agri-tech, food and health sectors and digital and media-based businesses) 26 Newquay Aerohub, Cornwall Area: North Cornish coast. Extended April 2016 to also include Goonhilly Earth Station Sector focus: Aerospace, Advanced Manufacturing/Engineering, Energy, ICT, Transport Website: www.aerohub.co.uk 27 North East, Northumberland, Tyne and Wear, Co. Durham Area: Three sites at Blyth Estuary, North Bank of the Tyne and the A19 Corridor, Sunderland Sector focus: Advanced Manufacturing/ Engineering, Offshore Renewables (Blyth and Tyne), Automotive and Low Carbon Industry (Sunderland), Marine Engineering (Tyne) Website: nelep.co.uk/enterprise-zone Area Extended in April 2016 to include ten sites throughout N.E. England - Hawthorn Business Park, County Durham; Follingsby South, Gateshead; North Bank of the Tyne, Newcastle; Newcastle International Airport Business Park, Newcastle; The A1, Morpeth, Northumberland; Ashwood Business Park, Northumberland; Ramparts Business Park, Northumberland; Holborn Riverside, South Tyneside; International Advanced Manufacturing Park, Sunderland and South Tyneside and the Port of Sunderland.

Sector focus: Health and Life Sciences, Creative and Digital, Subsea, and Low Carbon Industries

28 Northampton Waterside Area: Nearly 300 acres across 31 sites around Northampton, with excellent connections to London (68 miles), Birmingham (54 miles), Cambridge (58 miles) and Oxford (45 miles) Sector focus: Advanced Manufacturing/ Engineering, Automotive, Construction inc. built environment, Financial Services, Retail & Logistics Website: www.northamptonez.co.uk 29 Nottingham and Derby Area: Four Nottingham sites totaling 286 acres and comprising part of the Alliance Boots site in Beeston, Beeston Business Park, Nottingham Science Park and MediPark, together with the 250 acre Infinity Park in Derby Sector focus: Healthcare, Biotechnology, Low Carbon Technologies, ICT Website: www.investinnottingham.com/ enterprisezone 30 Plymouth South Yard, Devon Area: Part of the HM Naval Base located in Devonport Dockyard, Plymouth Sector focus: Marine, Advanced Manufacturing Website: www.oceansgateplymouth.com 31 Royal Docks, London Area: Over 300 acres of prime waterfront land in east London Sector focus: Business Services, Green Enterprise, Hospitality, Leisure, Creative Industries Website: www.royaldocks.london 32 Sci-Tech Daresbury, Liverpool City Region Area: Four sites in Halton, Cheshire, N.W. England, totaling 18.3 acres with expansion plans accessing a further 47 acres Sector focus: Advanced Manufacturing/ Engineering, Aerospace, Energy, ICT, Pharmaceuticals & Healthcare Website: www.sci-techdaresbury.com

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REGIONS

33 Science Vale UK, Oxfordshire Area: Two Oxfordshire sites totaling 280 acres and home the Diamond Light Synchrotron, Rutherford Appleton Laboratory, Culham Centre for Fusion Energy, the European Space Agency, Medical Research Council, and Satellite Applications Catapult Sector focus: Advanced Manufacturing/ Engineering, Aerospace, Energy, ICT, Pharmaceuticals & Healthcare Website: www.sciencevale.com Extended in April 2016 to include: 34 Didcot Growth Accelerator, Oxfordshire Area: Five sites totaling 235 acres with good connections to London and London Heathrow airport Sector Focus: Professional Services, Big Data, Advanced Materials, Energy-related Technologies Website: www.southandvale.gov.uk/ sciencevale 35 Sheffield City Region, South Yorkshire Area: 158 acres across 6 sites and home to the University of Sheffield Advanced Manufacturing Research Centre Sector focus: Advanced Manufacturing/ Engineering, Aerospace, Creative Industries, Low Carbon Industry, Pharmaceuticals & Healthcare Website: sheffieldenterprisezone.co.uk

37 Tees Valley Area: 1,137 acres across 12 sites in N.E. England with good rail links to London and Edinburgh, and cross country and local services to Newcastle, Leeds, and Manchester. Port access via Teesport Sector focus: Advanced Manufacturing/ Engineering, Chemicals, Creative Industries, Offshore Energy Website: www.teesvalleyunlimited.gov.uk

39 Cornwall MarineHub Main sector: Marine (Cornwall and Isles of Scilly LEP) 39 Dorset Green Main sector: Advanced Manufacturing (Dorset LEP) 40 Enterprise M3 Main sector: Digital (Enterprise M3) 41 Enviro-Tech Main sector: Green technology (Hertfordshire) 42 Heart of the South West Main sector: Digital (Heart of the South West LEP) 43 M62 Corridor Main sector: Advanced Manufacturing (Leeds City Region) 44 Newhaven Main sector: Mixed (Coast to Capital) 45 North East Round 2 Main sector: Advanced Manufacturing (North East LEP) 46 North Kent Innovation Zone Main sector: Life Sciences (South East LEP) 47 York Central Main sector: Professional Services (York, North Yorkshire and East Riding LEP)

Welsh Enterprise Zones 48 Anglesey Area: The island of Anglesey (Ynys MĂ´n) with an area of 276 square miles, is off the N.W. coast of Wales Sector focus: Low Carbon Energy - including Nuclear, Wind and Biomass 49 Central Cardiff Area: A 140 acre business district in the city center Sector focus: Business and Professional Services 50 Deeside Area: A total of some 4,950 acres in Flintshire in N.W. Wales representing the largest mixed use development site in Wales Sector focus: Advanced Manufacturing and Technology, Aerospace, Automotive 51 Ebbw Vale Area: Situated in Blaenau Gwent, S.E. Wales, the Zone consists of around 100 acres of development land Sector focus: Manufacturing , Pharmaceutical 52 Haven Waterway Area: Sited in Pembrokeshire on the S.W. coast of Wales with access to energy infrastructure and deep water port facilities Sector focus: Wave and Tidal Energy, Oil and Liquefied Natural Gas, Raw Material Supply, Engineering 53 Snowdonia Area: Three sites totaling 124 acres centered on the site of a former Power Station Sector focus: Digital, Low Carbon, Advanced Manufacturing, Unmanned Aerial Systems 54 St. Athan - Cardiff Airport Area: Based on Cardiff International Airport and St. Athan, a modern airfield situated less than 3 miles away Sector focus: Aerospace/Defense 55 Port Talbot Waterfront Area: A new Zone opened in April 2016, based around three sites, Baglan Energy Park, Baglan Industrial Estate and Harborside & Port Talbot Docks Sector focus: Engineering, Manufacturing, Renewable Energy/Biomass Website: For further information on all Welsh Enterprise Zones, visit businesswales.gov. wales/enterprisezones/zones

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U.K. REGIONS

36 Solent Enterprise Zone at Daedalus, Hampshire Area: 203 acres of decommissioned Royal Navy airfield on the Gosport Peninsula west of Portsmouth Harbor Sector focus: Advanced Manufacturing/ Engineering, Aerospace, Transport Website: www.solentez.co.uk

Further English Enterprise Zones will become live in 2017 to include:

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Local Enterprise Partnerships

U.K. REGIONS

Key 1 – North East 2 – Cumbria 3 – Tees Valley 4 – York, North Yorkshire & East Riding 5 – Lancashire 6 – Leeds City Region 7 – Liverpool City Region 8 – Greater Manchester 9 – Humber 10 – Sheffield City Region 11 – Cheshire and Warrington 12 – Derby, Derbyshire, Nottingham and Nottinghamshire (D2N2) 13 – Lincolnshire 14 – Stoke-on-Trent and Staffordshire 15 – Leicester and Leicestershire 16 – The Marches 17 – Black Country 18 – Greater Birmingham and Solihull 19 – Northamptonshire 20 – Greater Cambridge and Greater Peterborough 21 – New Anglia 22 – Coventry and Warwickshire 23 – Worcestershire 24 – South East Midlands 25 – Gloucestershire 26 – Hertfordshire 27 – Buckinghamshire Thames Valley 28 – Oxfordshire 29 – London 30 – Thames Valley Berkshire 31 – West of England 32 – Swindon and Wiltshire 33 – Enterprise M3 34 – South East 35 – Coast to Capital 36 – Solent 37 – Dorset 38 – Heart of the South West 39 – Cornwall and the Isles of Scilly

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REGIONS

Headline statistics for Yorkshire and The Humber

Headline statistics for Northeast England

Demographics & Labor force Population 5.3 million (2014) Working age population 3.4 million (2014) Labor force jobs 2.65 million (2015)

Skills & Education 998,500 million NVQ4 equivalent and above (HND, Degree and Higher Degree Level) (2014) 11 Higher Education Institutes, 68,000 graduates 2013-14

Demographics & Labor force Population 2.6 million (2014) Working age population 1.7 million (2014) Labor force jobs 1.17 million (2015)

Skills & Education 467,200 million NVQ4 equivalent and above (HND, Degree and Higher Degree Level) (2014) 5 Higher Education Institutes, 37,000 graduates 2013-14

Economy $152bn GVA (2014)

Business 208,790 businesses (Local Units) (2015)

Economy $67bn GVA (2014)

Business 84,530 businesses (Local Units) (2015)

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Headline statistics for Northwest England

Headline statistics for London

Demographics & Labor force Population 7.1 million (2014) Working age population 4.5 million (2014) Labor force jobs 3.56 million (2015)

Skills & Education 1.4 million NVQ4 equivalent and above (HND, Degree and Higher Degree Level) (2014) 14 Higher Education Institutes, over 84,000 graduates 2013-14

Demographics & Labor force Population 8.5 million (2014) Working age population 5.8 million (2014) Labor force jobs 5.57 million (2015)

Skills & Education Over 2.8 million NVQ4 equivalent and above (HND, Degree and Higher Degree Level) (2014) 39 Higher Education Institutes, over 137,000 graduates 2013-14

Economy $211bn GVA (2014)

Business 285,460 businesses (Local Units) (2015)

Economy $524bn GVA (2014)

Business 505,140 businesses (Local Units) (2015)

Headline statistics for Eastern England

Demographics & Labor force Population 8.8 million (2014) Working age population 5.5 million (2014) Labor force jobs 4.67 million (2015)

Skills & Education 2.1 million NVQ4 equivalent and above (HND, Degree and Higher Degree Level) (2014) 18 Higher Education Institutes, over 102,000 graduates 2013-14

Demographics & Labor force Demographics & Labor force Population 6.0 million (2014) Working age population 3.7 million (2014) Labor force jobs 3.09 million (2015)

Skills & Education 1.2 million NVQ4 equivalent and above (HND, Degree and Higher Degree Level) (2014) 10 Higher Education Institutes, over 46,000 graduates 2013-14

Economy $342bn GVA (2014)

Business 438,890 businesses (Local Units) (2015)

Economy $197bn GVA (2014)

Business 282,455 businesses (Local Units) (2015)

Headline statistics for Southwest England

Headline statistics for the West Midlands

Demographics & Labor force Population 5.4 million (2014) Working age population 3.3 million (2014) Labor force jobs 2.91 million (2015)

Skills & Education 1.2 million NVQ4 equivalent and above (HND, Degree and Higher Degree Level) (2014) 12 Higher Education Institutes, over 52,000 graduates 2013-14

Demographics & Labor force Population 5.7 million (2014) Working age population 3.6 million (2014) Labor force jobs 2.78 million (2015)

Skills & Education 1 million NVQ4 equivalent and above (HND, Degree and Higher Degree Level) (2014) 12 Higher Education Institutes, over 65,000 graduates 2013-14

Economy $174bn GVA (2014)

Business 261,735 businesses (Local Units) (2015)

Economy $164bn GVA (2014)

Business 228,550 businesses (Local Units) (2015)

Headline statistics for the East Midlands Demographics & Labor force Population 4.6 million (2014) Working age population 2.9 million (2014) Labor force jobs 2.3 million (2015)

Skills & Education 890,000 NVQ4 equivalent and above (HND, Degree and Higher Degree Level) (2014) 9 Higher Education Institutes, over 56,000 graduates 2013-14

Economy $135bn GVA (2014)

Business 194,275 businesses (Local Units) (2015)

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Full source and date for each statistical indicator in the regional headline table

Sources: Office for National Statistics via Nomis (Population Estimates, Annual Population Survey, Workforce Jobs and Inter Departmental Business Register), ONS Regional GVA, Higher Education Statistics Agency

U.K. REGIONS

Headline statistics for Southeast England

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NORTHERN POWERHOUSE – MINISTERIAL COMMENT

The Northern Powerhouse: A Destination of Choice for Investors From Around the World

By James Wharton MP, Parliamentary Under Secretary of State with responsibility for the Northern Powerhouse U.S. investors may well have heard the phrase Northern Powerhouse in recent years, so I want to tell you what it means and what the implications are for those who are looking to do business in the U.K.

NORTHERN POWERHOUSE

The Northern Powerhouse lies at the heart of our vision for a stronger British economy, bringing cities and regions across the North together to realize their potential. We need to rebalance our national economy, and a successful and vibrant Northern Powerhouse will benefit the entire U.K. It will also offer unparalleled opportunities for growth to international businesses looking for locations that offer great transport links, skilled labor forces, and access to markets both within the U.K. and with our global trading partners.

Today, the Northern economy is home to more than half a million businesses and many of the world’s finest universities and research institutions. It is home to 15 million people, more than Tokyo, New York or London, and a new job is being created every five minutes. It is worth $431bn, and if it stood on its own, would be the tenth largest economy in Europe.

If the North grew at the same rate as is forecast for the rest of the U.K., we could add over $52bn to the U.K. economy by the end of the next decade. The opportunity is enormous, and it is a prize worth fighting for.

Key to this will be generating inward investment from around the world, and we are doing all we can to create the right environment for businesses to flourish and grow. We have brought in legislation which drives the most radical decentralization of power in decades. It will give local leaders the powers they need to drive growth and prosperity – and with cities like Sheffield, Liverpool, and Manchester having already secured significant devolution deals, the Northern Powerhouse is leading the way.

At the heart of this drive for change is pushing power away from central government and putting it squarely in the hands of those who are best placed to know what works for their area.

Since May 2015 we have signed ten devolution deals with cities and regions across the country, meaning local areas, and the businesses that locate there, can now look forward to real control over the decisions that affect their lives, under the leadership of powerful elected mayors.

Lancashire has the single largest concentration of aerospace production in the U.K. A Typhoon at BAE Systems’ site at Warton

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The Hartree Centre in Daresbury, Cheshire is accelerating the adoption of data-centric computing, big data and cognitive technologies to enhance U.K. industry’s competitiveness

This is the biggest change in the system of local government for generations, and heralds a renaissance of local power that is long overdue. For decades the diverse cities and regions of Britain have been centrally controlled from London. Nobody believes in that model anymore. It led to an unbalanced economy and left local leaders powerless to make decisions that would make a real difference.

While we want every area of the country to experience these benefits, there is a particular resonance for delivering this commitment in the North.

Enterprise, innovation, and culture will play a vital role in turning the Northern Powerhouse vision into a reality.

Investments in tech hubs and hotspots are supporting small businesses and start-ups and major new investments in science and technology. Such investments already include cutting-edge cognitive computing at the Hartree Centre in Daresbury and the development of advanced materials at the National Graphene Institute in Manchester.

As part of this massive program of change, Enterprise Zones are an ongoing success story, attracting over 24,000 jobs and $3.4bn of private sector investment. In fact, these zones are working so well that in the latest Budget announcement George Osborne, the Chancellor of the Exchequer announced the doubling of the Enterprise Zone program in the Northern Powerhouse.

Last September, the Chancellor also published the Northern Powerhouse Pitchbook – a guide aimed at showcasing $34bn worth of investment opportunities in the North of England.

International investors have already put nearly $1bn into the Manchester Airport City Enterprise Zone, backing a worldclass development that will strengthen links with Asia by being the first airport outside London to host direct flights to China.

Investors from around the world are increasingly looking to the North of England as a place to do business – from a French

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Part of promoting the North is demonstrating that we understand what investors want. They require good infrastructure and transport links, like HS2, a high-speed line linking London with Sheffield, Leeds and Manchester, and a skilled local labor force. We are backing Northern leaders to make this a reality. Every devolution deal involves guaranteed, long-term funding for capital investment, and in the Autumn Statement we announced an investment fund of $570 million for Local Enterprise Partnerships in the North, with an additional $145 million for the Northeast.

Our vision for the Northern Powerhouse covers all aspects of the North – all business, all industries, and all areas, from the biggest metropolitan cities to its picturesque rural villages. This provides a challenging but exciting opportunity; to create a powerful Northern economy that delivers jobs, prosperity and security for the North and U.K. as a whole.

I want to see people and communities in the North of England taking ownership of the Northern Powerhouse agenda and keeping the tremendous positive momentum we have built up going throughout 2016 and beyond, into the future.

In the North where I was born and live, I will continue a dialogue with local political and business leaders from every political persuasion to help unleash the ambition of the North so it can reach its full potential.

Real success for the Northern Powerhouse must amount to much more than the sum of Government funding, or even investment from abroad. It must be an ambition for all areas, from metropolitan cities to rural villages, and all businesses and industries to help the North reach its potential.

There is no magic formula for success. There never is. But devolution has arrived and is here to stay. It will require local business and civic leaders to take ownership of the Northern Powerhouse and maintain the momentum of growth, making the Northern Powerhouse the destination of choice for investors from the United States of America and around the world.

NORTHERN POWERHOUSE

Devolution will restore the local autonomy that made our cities, towns and counties strong and prosperous and admired around the world as models of civic governance. Businesses who locate in the Northern Powerhouse can be confident that decisions affecting them will be made by people who know the area, know the issues and can deliver real change, rather than bureaucrats hundreds of miles away in London.

company pumping $255 million into a recycling plant in Leeds, to Siemens from Germany in Hull, and Nissan from Japan in Sunderland, it is clear that countries around the globe are waking up to the investment opportunities the North has to offer.

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NORTHERN POWERHOUSE – TRANSPORT FOR THE NORTH

No Longer Standing in Line – Why the North of England Wants to be Front of the Line for Improved Transport Links

By David Brown, Chief Executive Officer, Transport for the North

NORTHERN POWERHOUSE

The North of England covers an area of 14,414 square miles (slightly bigger than Maryland) and includes the major cities of Manchester, Liverpool, Leeds, Newcastle, and Sheffield. The region has a proud economic heritage, acting as the birthplace of the Industrial Revolution and containing the oldest passenger railways and canals in the world.

As well as being home to some of England’s most vibrant and dynamic cities, the North also contains some of the country’s best loved scenery, including the Lake District, the Yorkshire Dales and the Peak District National Parks.

The region has a population of 15 million and has an annual economic output (GVA) of US$431bn. This population is larger than those of London (which has 8.5 million people and an annual economic output of US$516bn) and Illinois (which with 13 million people has an annual economic output of US$765bn), meaning that there is considerable room for improvement.

One of the barriers to growth has been a lack of adequate transport links. The North is linked by railways built in the 19th century and a network of highways, many of which follow the course of ancient routes and are only four or even two lanes wide.

Over recent years there has been a commitment to radically improve transportation links across the North, giving an opportunity to unify the region’s economic centers to create one northern economy known as the Northern Powerhouse. It is estimated that this could add an additional US$52bn to the region’s economic output in real terms by 2030. The vision for the Northern Powerhouse is that of a network of modern city regions, driven by the knowledge economy and rich in job opportunities for all.

Transport for the North is the agency that has been formed to deliver a blueprint to build this strategic transport network to support the Northern Powerhouse.

Set up in October 2014, Transport for the North enables the North of England to speak to Government with one voice on strategic infrastructure issues that, if delivered, will benefit the region as a whole. It is an alliance of local and combined authorities (similar to U.S. state government) and local business organizations across the North of England, working in partnership with the U.K.’s national transportation bodies and the British Government’s Department for Transport.

Through transforming connectivity in the North of England, Transport for the North plans to rebalance the British economy.

Better connections between the region’s economic centers will increase the labor market available to business and bring more jobs within reach of the population. It is hoped that creating this unified northern economy will allow the region to complement and compete with the economic might of London, but also to put the region on the international stage.

Evidence shows that the North has four distinctive prime economic capabilities within the world economy that have the highest potential to drive growth and productivity: • Digital technology, including software and content.

• Advanced manufacturing, especially materials and processes.

• Energy, including nuclear and offshore wind.

• Health innovation, including life sciences, medical technology, and service delivery.

These capabilities need to be supported by world class higher education (the region contains four of the world’s top 100 universities), financial and professional services and logistics.

Better transportation links will increase access to these assets across the region.

As part of its ambitious vision to deliver a world class transport system for passengers and freight, Transport for the North is developing long-term plans to improve rail connections between the region’s major economic centers. Due to the geography and population density of the North of England, rail is the most effective way to enable rapid links between the area’s major cities.

Plans are underway to revolutionize east-west rail links, slashing journey times and increasing capacity between Liverpool, Manchester, Leeds, Sheffield, Hull (a major shipping hub), Newcastle, and the region’s major international airport at Manchester. Northern Powerhouse Rail will connect with the forthcoming High Speed 2 (HS2) rail lines, which are being built to improve links between the North and London.

The plans for Northern Powerhouse Rail are as much about improving frequency and capacity for rail journeys between the North’s cities as they are about cutting journey times. That said the proposed overhaul of rail in the region will go a long way to reducing commuting times for passengers, with targets to cut the journey time between Leeds and Manchester from 50 to 30 minutes, reducing the journey from Manchester Airport to both Sheffield and Liverpool to 30 minutes and bringing Newcastle within an hour’s journey of Leeds. This will create a passenger rail network that enables people with the skills to access the best jobs in the region, regardless of where they live.

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is a single carriageway through the Peak District National Park with typical journey times topping an hour and a half. In the same way the M60, which serves a similar strategic role to the M25 around London accommodating international, national, regional, and local connectivity, is often heavily congested.

Schemes under consideration for the next Road Investment Strategy include the building of Europe’s longest road tunnel to provide a reliable link between Manchester and Sheffield (the existing links are narrow roads going over the Pennines, a range of hills running north-south through the region, which are subject to congestion and bad weather).

The Northern Powerhouse Rail developments, alongside HS2 and investment in the strategic road network, will also free up capacity for moving freight, making it easier to get materials to and from the region’s major ports at Grimsby & Immingham, Tees & Hartlepool, and Liverpool.

The North of England’s freight industry benefits from a number of key strengths including its proximity to both consumer and production markets, the presence of ports and airports with capacity for expansion, an extensive existing waterways network, and a strong manufacturing base.

Transport for the North is working to develop the U.K.’s first ever pan-regional freight and logistics strategy with a focus on reducing the cost of freight movement within, to, and from the North of England. Five key principles have been drafted for developing this freight and logistics strategy: • Increasing the capacity and resilience for freight of the North’s transport network across rail, water and road.

Whilst it is still early days for Northern Powerhouse Rail, there is real investment behind the scheme with the Chancellor of the Exchequer, George Osborne, announcing $85 million of funding at the Spring 2016 Budget to develop detailed plans for both Northern Powerhouse Rail between Leeds and Manchester by 2017 and for rail links between the North’s other major cities.

Alongside rail, the North of England’s road network is already receiving substantial investment. Highways England, the body with responsibility for operating, maintaining and improving England’s major highways is currently implementing its first Road Investment Strategy running from 2015 until 2020. This includes 42 schemes equating to $4.1bn of regional road investment. Notable projects within this investment period are upgrades to the region’s motorway network to provide new stretches of Smart Motorway that will deliver continuous eight lane highways from Manchester to Leeds and from Leeds to London via Sheffield.

Building on this, Transport for the North is working closely with Highways England and the British Government’s Department for Transport to produce prioritized investment proposals for the second Road Investment Strategy that will run from 2020 until 2025.

Capacity and reliability improvements to the regions eastwest road connections are key to stimulating and sustaining regional economic growth. Whilst Manchester and Sheffield are currently just short of 40 miles of road apart, the main route

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• Supporting growth in the region’s strategically located rail and water freight interchanges/distribution centers.

• Supporting growth in traffic through northern ports by improving their connectivity and enabling shipping lines to offer more cost-effective services.

• Collaboration with Local Transport and Planning Authorities to assist with efficient implementation of measures.

• Creating a long-term, consistent business environment to stimulate private sector investment in sustainable, low emission technology and distribution practice across the North of England.

Transport for the North’s 2016 report, The Northern Transport Strategy, provides an update on the Northern Powerhouse Independent Economic Review, a pioneering way of evidencing investment priorities for the region. This is the first time that an Independent Economic Review has been used in the U.K. to provide evidence of need for infrastructure investment. The full results of the ongoing review are due to be published in May 2016 and will inform the ongoing development of the Northern Transport Strategy.

Looking to the future, Transport for the North will continue to work in partnership with local and central government to develop a prioritized framework of programs for investment.

It is an ambitious vision, but an opportunity that is there for the taking.

NORTHERN POWERHOUSE

Transport for the North is currently working with the U.K.’s national rail infrastructure body Network Rail to understand the best options for delivering Northern Powerhouse Rail. This may include completely new lines or it may involve a combination of new sections and upgrades to existing track.

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YORKSHIRE AND THE HUMBER

Yorkshire and The Humber

York, North Yorkshire & East Riding

Yorkshire and the Humber Leeds City Region

Humber

Sheffield City Region

The Yorkshire and Humber region has a population the size of Scotland or Norway, and mirrors the U.K. in terms of its diversity and structure of the economy. It has international cities, historic towns and villages, stunning countryside, and is located at the heart of the U.K. It is well connected by road rail and air and has one of the U.K.’s largest port complexes on the Humber estuary.

With 10 universities, nearly 200,000 businesses and a population of over 5 million, Yorkshire and the Humber is a key part of the U.K.’s Northern Powerhouse.

U.K. REGIONS

Four Local Enterprise Partnerships (LEPs) oversee the region’s economic development: Leeds City Region, Sheffield City Region, the Humber LEP, and the York, North Yorkshire and East Riding LEP. The largest of these is Leeds City Region which accounts for nearly 50% of the Yorkshire and Humber region’s GVA. There are investment opportunities across the region for all types of company, across all sectors – serving both business and consumer markets. With over 1,000 U.S.-owned companies, the region is a prime location for U.S. investment.

KEY SECTORS, ASSETS, CAPABILITIES FINANCIAL, PROFESSIONAL, AND BUSINESS SERVICES Yorkshire is a key financial hub contributing over $20bn to the U.K. economy from financial, insurance, and business services, and is seeing growth particularly in fintech, back office, and ICT support.

• Leeds City Region is the U.K.’s second largest center for financial services with 30 national and international banks.

• It is also the country’s second legal center outside London with a host of international law firms.

• Sheffield has major back-office operations by Santander and HSBC. • First Direct, the U.K.’s first online bank was founded in the region.

• The Yorkshire and Humber region is home to 3 of the 5 biggest building societies (prime mortgage lenders) in the U.K. ADVANCED MANUFACTURING The region is a major manufacturing location with particular expertise in materials and precision engineering. Its companies supply multiple sectors and export worldwide.

• Sheffield City region is world renowned for metals and materials. The Advanced Manufacturing Park (AMP) in Rotherham is a world class center for advanced machining and materials research for aerospace and other high value manufacturing sectors. Significant companies include Rolls Royce and Sandvik Coromant.

• Leeds City region’s manufacturing sector is worth over $10bn, the largest in the U.K., and precision engineering is a key strength. Sectors range from automotive to food and drink, from construction to energy.

• The universities have strengths in engineering, materials and metrology. Sheffield University is a partner in the AMP and Huddersfield hosts the National Physics Laboratory.

• Two-thirds of the world’s turbo chargers are made in the region by companies including Cummins TurboTechnologies and Borgwarner.

ENERGY Moving from traditional coal mining and power generation, the region is now leading the way with renewable energy.

• Wind energy is a rapidly growing sector of the Humber economy with, for example, Siemens investing over $230 million. Three of the world’s largest offshore wind farms are within 12 hours of the Humber ports.

• The Siemens Wind Power Research Centre at the University of Sheffield has recently opened as has the U.K. National College for Wind Energy in Scunthorpe.

• Significant support companies across the region supplying all energy sectors. Companies include Getech, Forum Energy Technologies, and Sulzer Pumps.

• A focus on bio-renewables and the use of biomass at, for example, the Drax power plant in Selby.

Headline statistics across Yorkshire and Humber Local Enterprise Partnership

Population (2014)

Working age population (2014)

NVQ4 and above (2014)

GVA, million (2014)

Businesses (local units) (2015)

Humber

923,900

574,700

152,500

$25,046

35,490

Leeds City Region

3,004,900

1,911,500

580,600

$89,474

118,985

Sheffield City Region

1,832,100

1,159,300

319,400

$46,319

63,400

York, North Yorkshire & East Riding

1,143,100

698,800

254,800

$34,183

60,010

Sources: Office for National Statistics via Nomis (Population Estimates, Annual Population Survey and Inter Departmental Business Register), ONS Regional GVA Note: Total LEP data may not exactly match data in region table due to rounding

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FOOD AND DRINK AND AGRI-TECH The region has a wealth of food and drink companies encompassing the whole supply chain from farm to fork.

• Food and drink is especially important for the York, North Yorkshire and East Riding economy which is a major source of raw materials and ingredients.

• There are significant research capabilities such as the National Agri-Food Innovation Campus and the National Centre of Excellence for Food Engineering.

• Major companies include ABP Foods, Coca-Cola Enterprises, Hains Daniel, and three major supermarkets are headquartered in the region.

• 70% of the U.K.s fresh and frozen seafood is processed in the Humber region • Nutritional foods, ‘free from’ ranges, and locally sourced craft food and drink is found across the region. Well established names include Taylor and Betties, Black Sheep Brewery, and Wensleydale Cheese.

LIFE SCIENCES • Medical technology is a particular area of expertise. De Puy has its European R&D HQ in the region.

• Pharmaceutical companies across the region include Dr. Reddy’s and Novartis.

• Wound management is a particular area of expertise with companies including Systagenix and Smith and Nephew.

• The National Health Service has HQ functions located here including NHS England, the Health Information Centre, and Health Education England.

• Centers of excellence including Sheffield’s Advanced Wellbeing Research Centre and Centre for Assistive Technology and Connected Healthcare, the Medical Technologies Innovation and Knowledge Centre at the University of Leeds • Digital health is a growing area with the U.K.’s only Digital Health Enterprise Zone located at the University of Bradford.

• The Humber is home to a $8.6bn chemical industry cluster specializing in the process industry, refining, and pharmaceuticals.

• A variety of specialty chemicals companies are to be found particularly in Leeds City Region.

• Multi-national companies include BP Chemicals, Nippon Ghosei, Smith and Nephew, Reckitt Benckiser, Kemira Chemicals, and Nufarm.

• The region has particular strengths in software development, B2B services providing ICT platforms and enterprise solutions, and the understanding and capacity to handle ‘big data’.

• Companies such as Callcredit and Equifax, Lexis Nexis and Thomson Reuters, are all based in the region as well as infrastructure providers such as KC – providers of fiber optic broadband (Kingston Communications) and data center and service provider AQL, and U.S.-owned WANdisco.

• Gaming and animation companies include Sumo Digital in Sheffield, Revolution Software in York, and Team 17 in Wakefield and the network organization Game Republic is based in Leeds.

• Digital incubators such as C4Di in Hull, and The Electric Works, Sheffield.

SKILLS, UNIVERSITIES AND R&D, LAND AND PROPERTY AND ENTERPRISE ZONES, OPERATING COSTS The region’s enterprise zones offer financial incentives and fast-track planning.

• The Humber EZ is the largest in the U.K. with a specific focus on renewable energy, ports and logistics • Sheffield City Region’s EZ sites focus on high tech manufacturing and engineering, and supply chain logistics around Doncaster Airport.

• In Leeds City Region there is a variety of readily available sites suited to manufacturing, logistics, and distribution all close to centers of business and population.

The region’s universities are world class and cover the complete range of activity Each region has skills support programs and financial support for eligible companies. Operating costs are extremely competitive as compared to other parts of the U.K. KEY SECTORS ACROSS THE YORKSHIRE AND HUMBER LEPS INCLUDE: LEEDS CITY REGION • Financial, professional and business services (especially fintech and legal) • Advanced manufacturing • Health and innovation (especially medtech and digital health) • Digital and information economy

LOGISTICS

SHEFFIELD CITY REGION

The region has excellent access to all parts of the U.K. through the motorway and rail network and to mainland Europe.

• Advanced materials and manufacturing • Medical technology • Logistics • Financial and business services (especially back office)

• Doncaster is a key logistics hub with its airport, inland freight port, and motorway access.

• The National College for High Speed rail is located in the region • There is a wide variety of sites and premises across the region along the key transport corridors. The region’s enterprise zones are also located on these corridors (see below).

HUMBER • Energy – especially renewables • Chemicals • Food and drink • Digital

DIGITAL

YORK, NORTH YORKSHIRE EAST RIDING

As well as over 44,000 jobs in digital tech economy in Hull, Leeds, and Sheffield/Rotherham (source TechNation report 2016), ICT and digital skills underpin the region’s other key sectors.

• Bio-renewables • Food and drink • Agri-Tech

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U.K. REGIONS

CHEMICALS

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YORKSHIRE & HUMBER – LEEDS CITY REGION

Invest in Leeds City Region Today and Be Part of Tomorrow

An economic powerhouse with global reach, Leeds City Region has a combined GVA of $88.25bn and operating costs which are 28% lower than London and the Southeast, offering exceptional opportunities for growth across multiple business sectors.

Located at the heart of the U.K., and at the epicenter of the Northern Powerhouse, Leeds City Region boasts global strengths in business sectors including financial and professional services, manufacturing, digital and technology, healthcare, and life sciences.

U.K. REGIONS

A number of collaborative and connected U.K. cities, underpinned by the city of Leeds, Leeds City Region is the sensible business location, offering unprecedented and cost effective access to the right skills, infrastructure, and business networks to enable companies to experience exceptional, yet sustained, economic growth.

The scale of Leeds City Region is surprising. With over seven million people within a one hour drive the region boasts a vast talent pool, which includes the U.K.’s largest manufacturing workforce. Add to this a ready pipeline of 41,500 annual graduates from the City Region’s nine higher education institutions (the largest highest education cluster outside London), and discover a diverse and available workforce, which is highly adaptable and competent.

Additionally, the City Region boasts the highest concentration of STEM graduates outside London and boasts one of the best graduate retention rates in the U.K., with 50% of graduates from Leeds City Region esteemed universities opting to stay in the City Region for employment following graduation.

Added to this exceptional pipeline of talent and large scale

Bradford City Park

business base is an inherently innovative approach, which is at the heart of the business environment in Leeds City Region.

The region is home to a vast network of long-established academic and private research centers spanning the region’s key sectors. The collaborative and open approach to innovative thinking, especially between academia and industry, brings new ideas, new materials, and new products and services to market, ultimately creating exciting commercial opportunities.

A FINANCIAL AND PROFESSIONAL SERVICES HUB As the U.K.’s most prominent financial center outside London, Leeds City Region is a prime location for financial and professional services, proven by the wide range of companies already located in the region from global banks to innovators in financial technology.

This well-established cluster of high quality financial and professional services firms, coupled with an open and collaborative ecosystem makes the City Region an exciting location for this sector, and has also led to TheCityUK (a financial services membership body and industry lobbyist) identifying Leeds City Region as the U.K.’s second financial center for banking. Additionally, Leeds City Region was recently named a Financial Center of Excellence by UK Trade & Investment, recognizing the strength of the financial cluster, its contribution to the economy, and the supporting infrastructure and assets the region offers.

Strengths within this sector include legal, insurance, banking, and financial technologies, and Leeds City Region’s established cluster includes a presence from major international firms including Eversheds, DLA Piper, Handelsbanken, Deloitte, TSYS, Experian, TD Direct Investing, and Hiscox. These businesses are benefiting from the unprecedented and cost effective access to talent, business

HD One Night CGI

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networks, and low-cost yet high value office space available in Leeds City Region.

Additionally, the region has seen extensive commitment from global firms based here, with major international players, including KPMG, PwC, Addleshaw Goddard, and Squire Patton Boggs investing in new premises within the region, a sign of their confidence in Leeds City Region as a location which will fuel future growth.

A HEALTHCARE HOTSPOT Leeds City Region boasts a diverse and influential healthcare ecosystem, which four of the five NHS England headquarters call home, making this region unlike any other, and providing an unequalled opportunity for businesses looking to supply into the NHS. Healthcare is a priority worldwide, particularly so in the U.K., home to the NHS, the world’s largest publicly funded health service, and Leeds City Region is at the heart of this economy. The region is committed to enabling healthy and productive lives which, coupled with an open and collaborative environment, has seen the City Region become the U.K.’s first health innovation hub.

With unrivaled access to markets, an exceptional talent pool, and attractive support packages available, Leeds City Region is the ideal place to invest and test in the U.K. health market, as seen by the presence of businesses such as Covance and DePuy Synthes.

EXCELLENCE IN ADVANCED MANUFACTURING Compared with the rest of the U.K., Leeds City Region has distinct advantages in manufacturing in three key areas: market size, labor force skill, and supply chain.

Best placed to address the challenges for the future of manufacturing, Leeds City Region provides the perfect location for companies to grow, innovate, and improve efficiency.

With the greatest concentration of high-value manufacturers in the U.K., renowned for its scale, diversity, and excellence, Leeds City Region is well placed to shape the rapidly changing manufacturing environment, as well as capture the opportunities it presents.

The City Region’s key selling point is its ability to provide high quality bespoke engineering solutions across a diverse range of key growth sectors and technical competencies, including precision technologies, robotics, metrology, digital manufacturing, and smart materials. This, combined with an unrivaled talent pool and position at the heart of the U.K., with close proximity to major ports, makes Leeds City Region the place to manufacture.

DIGITAL AND TECHNOLOGY Technology innovation and data analytics is rapidly changing the way we do business and is transforming the market in all traditional sectors. Technological advancements are unlocking the power of intelligent data and driving

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competitive advantage – areas where Leeds City Region is ahead of the game, having developed initiatives such as ‘coding clubs’ in all Leeds primary schools, as well as hosting Google’s first ever Digital Garage.

A world-class location in data management and the analysis of big data, both consumer and public sector, Leeds City Region has established a firm lead in the ‘data revolution’, the most transformational and disruptive influence since the industrial revolution. The pioneering research taking place, and approach to the hosting and interpretation of data via Leeds Data Mill, Leeds Open Data Institute, and Leeds Institute for Data Analytics provides unique access to some of the world’s largest databases and world-leading academics and researchers.

Additionally, Leeds City Region has unrivaled digital connectivity, home to the only independent internet exchange outside London, which affords exceptional resilience, data transfer speed, and cyber security. Reducing the risk of data loss, while providing low-cost/high capacity data routes around the world, the City Region’s connectivity enables split-second global transactions, so improving business efficiency.

Finally, and crucially, Leeds City Region Enterprise Partnership (LEP) can offer businesses considering further growth or expansion into the U.K. a comprehensive service from initial enquiry right through to aftercare and ongoing support in the region. The LEP can help you identify, secure and access funding, property and talent for the perfect solution to support your business growth.

For more information please visit www.investleedscityregion.com or email invest@the-lep.com or follow us on Twitter @LeedsCityRegion

U.K. REGIONS

Manufacturing in Leeds City Region is worth around $10bn to the U.K. economy, with double the national average of companies in advanced manufacturing, the U.K.’s largest manufacturing employment base, home to businesses including Borg Warner, Cummins Turbo Technologies, and Weir Group, and manufacturing over half of the world’s turbochargers.

TD Direct Investing, Leeds

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NORTHEAST ENGLAND

Northeast England North East

Northeast

Tees Valley

The Northeast of England region is located on the eastern seaboard of the U.K. and stretches from Berwick upon Tweed down to Darlington. It is made up of the Counties of Durham and Northumberland and the two major conurbations of Tyne and Wear and Tees Valley.

U.K. REGIONS

Tees Valley Unlimited and The North East Local Enterprise Partnership are the two organizations responsible for championing the Northeast region nationally and globally, promoting its opportunities and capabilities to influence and shape the continued economic growth of the area. They are known as Local Enterprise Partnerships (LEPs) and are collaborations between the public and private sector working with numerous stakeholders including universities and colleges, UK Trade & Investment, U.K. Government and international industry leads.

Northeast England is a land of opportunity for developers and investors. It is the English region with the greatest capacity for growth – boasting a wealth of natural assets and resources; available development sites; a skilled labor force and a quality of life envied across the rest of the U.K. The Northeast will play a key role in the Government’s Northern Powerhouse. With swathes of prime development land and over 20 dedicated Enterprise Zones, the region is bursting with untapped potential. From premier sites to commercial offices, to manufacturing and warehousing, retail and leisure developments, and residential space, the Northeast of England has it all.

KEY SECTORS, ASSETS, AND CAPABILITIES Northeast England offers a compelling set of opportunities for developers, investors, and end users alike. The area boasts one of the fastest growing knowledge economies in the U.K., and builds on its strong industrial heritage, as home to major manufacturers including the most productive car plant in Europe, Nissan Motor Manufacturing UK and Hitachi’s new rail vehicle manufacturing facility. The region is a well-established hub for offshore and new and renewable energy, supported by four ports, positioned down the region’s North

Sea coastline. In the south of the region, Tees Valley is leading developments in the renewable sector and boasts a growing cluster of biomass, biofuel, bioethanol, and energy from waste plants. Last year saw Air Products complete construction of its renewable energy facility – the world’s largest renewable energy plant using advanced gasification energy-fromwaste (EfW) technology. Plans are well underway to develop Europe’s first Carbon Capture and Storage (CCS) equipped industrial zone in Tees Valley.

Pharmaceuticals and life sciences are also growing sectors for the region, supported by the area’s leading edge universities, including Durham and Newcastle. The area has a thriving financial, professional, and business services sector, and is home to a number of big name businesses. From Hewlett Packard to Virgin Money, the Northeast offers a unique combination of skilled, flexible workers, ideally located development sites, and excellent connectivity. Public-private sector collaboration helps projects to progress at pace too, meaning the Northeast will continue to be an area of choice for investors looking for attractive growth and development opportunities.

Northeast England is quickly becoming a leading part of the U.K.’s innovation story gaining national recognition and investment. It is home to four out of seven national Catapult Centers – key drivers for future of U.K. innovation – including the Offshore Renewables Engineering, Digital Economy Catapult, Satellite Applications, and High Value Manufacturing.

Northeast England also hosts a number of significant innovation hubs, networks, and research and development bodies. These highly engaged and pro-active groups build on the work of the five world-class universities and are focused on innovation promotion and advancement, offering access to business communities. They include the Centre for Process Innovation (CPI), Software City and Digital City, Newcastle Science Central and the North East Technology Park. As part of its investment in innovation Northeast England is home to a number of centers of excellence to support industry growth: The Neptune National Centre for Subsea and Offshore Engineering and the Neptune Test Centre (the first commercial hyperbaric testing facility of its kind in the world), ORE

Headline statistics across the Northeast Local Enterprise Partnership

Population (2014)

Working age population (2014)

NVQ4 and above (2014)

GVA, million (2014)

Businesses (local units) (2015)

Northeast

1,952,500

1,246,300

351,100

$50,160

63,190

Tees Valley

666,200

417,000

116,200

$17,507

21,340

Sources: Office for National Statistics via Nomis (Population Estimates, Annual Population Survey and Inter Departmental Business Register), ONS Regional GVA Note: Total LEP data may not exactly match data in region table due to rounding

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NORTHEAST ENGLAND

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Newcastle

Catapult’s research, development, demonstration, and testing facilities, and the Centre for Ageing and Vitality which leads national research in the multi-disciplinary aspects of ageing.

ADVANCED MANUFACTURING AND AUTOMOTIVE

• The Northeast produces one-third of all cars in the U.K., is the U.K’s largest vehicle exporter to the EU, and attracted more auto components FDI per capita than any other region in the U.K. • Home to giants, like Nissan, Hitachi, Komatsu, TRW, Nestlé, and Caterpillar, the area’s booming manufacturing community is pumping more than $10.5bn into the Northeast economy with some 60,000 people working in the engineering sector.

SUBSEA, OFFSHORE ENERGY AND RENEWABLES • The Energy sector has grown by over 60% in the last 4 years, with 5,075 energy related companies in the region in June 2015 compared to 3,180 in June 2011.

• Industry leaders based here include Siemens Energy, EDF Energy Renewables, GE Oil & Gas, Vattenfall Wind Energy, Maersk Training, Samsung Heavy Industries, Doosan Babcock Energy, and JDR Cables.

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• 400 acres of deep water development land, much of which benefits from Enterprise Zone status, teamed with readymade infrastructure – from deep water quays, heavy load out pads and heavy lift cranes to extensive fabrication storage facilities, and access to distribution.

SCIENCE HEALTHCARE AND PHARMACEUTICALS • The Northeast is a prominent U.K. life science producer and exporter with over 5,500 direct employees, record levels of life science exports, and major foreign companies undertaking life science activities.

• Home to 240 biotechnology, pharmaceutical, medical technology and healthcare companies, and leading worldclass academic research, translational medicine, and clinical excellence facilities including the National Biologics Manufacturing Centre’s $54 million facility, opened in March 2015.

• The region has developed particular expertise in a number of sub-sectors, disease areas, and thematic areas including ageing and health, regenerative medicine, diagnostics, and drug discovery.

• Industry giants investing in the area include GlaxoSmithKline, Proctor & Gamble, Merck Sharp & Dohme, Piramal Healthcare, and Fujifilm Diosynth Biotechnologies as well as home-grown success stories like Kromek, QuantuMDx, and Aesica.

U.K. REGIONS

• Highly competitive operating costs – according to the Financial Times Benchmarking Study, a typical 700 person automotive OEM manufacturing plant in the Northeast would save $37 million per annum in labor and property costs compared to London, while a 400 person automotive components manufacturing operation would save some $16 million per annum.

• 4 ports and 4 world-leading testing facilities and well placed to service the ongoing major expansion of the offshore wind sector with Round 3 zones such as Dogger Bank, Firth of Forth, and Hornsea within easy reach.

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NORTHEAST ENGLAND

SOFTWARE, CREATIVE, AND DIGITAL

MERCK SHARP & DOHME (MSD)

• The Northeast ICT market is worth over $2.8bn and is forecast to grow by $710 million by 2020.

MSD is the U.K. subsidiary of Merck & Co., Inc., Kenilworth, NJ, a leading healthcare company that discovers, develops, manufactures, and markets a wide range of innovative pharmaceutical products to improve human health and animal health. MSD has committed substantial investment to research and manufacturing in the U.K. because of the unrivaled scientific excellence and skills base available. It has four sites in the U.K. with Northumberland housing its only U.K.-based manufacturing plant. This pharmaceutical manufacturing facility commenced operations in 1975, employs approximately 400 people; it is one of the most advanced pharmaceutical manufacturing and packaging facilities in the world. The site has benefited from a number of major investment programs over the years. It is a center of excellence for tablet manufacturing, packaging, and worldwide supply and a global center for stability testing.

• The region offers the most affordable and accessible skills with the highest percentage of STEM and Computer Science students in England, the highest growing tech cluster in England (up 30% from 2011-2015) and an average cost saving of $1.65 million per annum compared to London.

• An emerging tech hub with a strong focus on learning and development, supported by local industry and Government including Digital Catapult, Business and IP Centre, Dynamo North East, Tech North, Digital Union, Sunderland Software City, and Digital Leaders North East.

• The sector has enjoyed continuous growth, seeing more new technology start-ups than anywhere else outside of London and growth from existing companies including Ubisoft, Saggezza, and Hewlett Packard as well as being home to the only FTSE 100 software company in the U.K. – Sage Group plc.

CHEMICALS • Tees Valley is home to 58% of the U.K.’s chemical industry and the Northeast of England’s process industries contribute $37bn to the U.K. economy.

• More than 1,400 companies are directly involved in the chemicals and process industry and its supply chain, employing over 200,000 staff. The sector exports $17bn of product and contributes $3.1bn a year in GVA to the local area.

U.K. REGIONS

• Tees Valley has the largest integrated chemical complex in the U.K. in terms of manufacturing capacity and the second largest in Western Europe.

• The area is home to a range of key clusters in the chemical sector including refining, petrochemicals, specialty and fine chemicals, plastics, biotechnology, and pharmaceuticals.

Some of the major international companies already here include INEOS, SABIC, GrowHow, Huntsman, and BOC. AMERICAN COMPANIES ALREADY IN THE NORTHEAST REGION HEWLETT PACKARD HP is the world’s largest technology business which generated fourth quarter net revenue of $25.7bn in November 2015.

The company employs 302,000 people worldwide, serving clients in more than 170 countries. The Northeast England operation services clients across the private and public sectors (including the Department for Work & Pensions and Ministry of Defence), covering functions such as systems analysis, software design, and project management. The center works closely with HP’s network of other delivery centers in the Philippines, India, Egypt, and China. The company has expanded its office space in North Tyneside three times in the last few years and now employs 1,900 staff. “ HP’s decision to further commit to the region was supported by the flexible and modern office buildings located at Cobalt Park. In addition, the Park also benefits from unrivaled travel links.”

DARCHEM ENGINEERING (U.K. SUBSIDIARY OF THE ESTERLINE CORPORATION) Darchem has been in the region since 1954 and produces high quality, specialist metal fabrications, fire protection and insulation products for the aerospace, nuclear, defense, oil and gas, and automotive industries. Demand for Darchem’s precision products has been so great that an additional $11.3 million, 57,000 sq ft extension at its manufacturing base in Tees Valley has been required to supply the growing market for large scale nuclear fabrication.

CUMMINS INC. Cummins employs 700 people at its plant in Darlington, which is the company’s European center for the production of its ‘B’ & ‘C’ Series diesel engines for buses and trucks. These are exported globally, to markets that include China and India. The company has recently made significant investment in enhancing the efficiency of the engines produced at the Darlington plant, enabling it to meet the highest ‘Euro 6’ emissions standards.

Key sectors across the Northeast LEPs include: North East LEP • Recognised as a primary location to further expand and grow the successful sectors of automotive (particularly electric vehicles and low carbon vehicle technologies), advanced manufacturing/ engineering, energy (wind and oil & gas) and financial, professional and business services. The area also has an extremely competitive offering and specialties in life sciences, software and IT services, and video gaming.

Tees Valley Unlimited • Tees Valley has a world-class reputation for delivering large-scale projects across key sectors, such as oil and gas, advanced manufacturing/ engineering, chemicals and processing, automotive and aerospace, logistics, renewables and digital.

Teesside is home to the largest integrated chemical complex in the U.K. and the second largest in Western Europe in terms of manufacturing capacity.

Sources: www.localinvestuk.com, Surfacing the National Offer

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NORTHWEST ENGLAND

Northwest England

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Cumbria

Northwest

Lancashire Liverpool City Region

Greater Manchester

Cheshire& Warrington

The Northwest region of England has the U.K.’s largest economy outside London and the Southeast, and is one of the most successful regions for inward investment. Private sector led Local Enterprise Partnerships oversee local growth and economic development plans covering Greater Manchester, Liverpool City Region, Cheshire and Warrington, Lancashire, and Cumbria. The Northwest’s local authorities also lead the way in supporting the Government’s devolution agenda, developing collaborative working across a range of services. There are Combined Authorities in place covering the major city regions of Liverpool and Manchester with strategic oversight for economic development and transport infrastructure investment.

U.S. investment remains significant across the Northwest’s key sectors

• Financial Services – Assurant, Bank of New York Mellon, MBNA, AON. • Life Sciences – Bristol-Myers Squibb, Eli Lilly, Thermo Fisher Scientific; Life Technologies, and Gen-Probe and Waters.

• Advanced Engineering/Automotive/Aerospace/Energy – General Motors, Johnson Controls Automotive, Husco International Ltd, MWH Global, Goodrich Corporation, Getrag Ford, Paccar, Jacobs Engineering & Stoller Newport.

LIFE SCIENCES • The Liverpool, Manchester and North Cheshire area is one of the three main U.K. Life Science clusters.

It is also one of the leading bio-manufacturing clusters in Europe with major companies such as Eli Lilly, Actavis, Astra Zeneca, and Novartis alongside a rapidly expanding biotechnology/life sciences community centered around Liverpool Science Park, Alderley BioHub, (part of the Cheshire Science Corridor), and Corridor Manchester, the locations of many healthcare companies providing a strong analytical and clinical supply presence.

• Manchester has more than 200 biomedical companies and more working Nobel Prize winners than Oxford and Cambridge combined. It has Europe’s largest clinical academic campus, key medical research institutes, Europe’s biggest cancer treatment center, the world’s largest clinical trials unit, state of the art bio-medical facilities at CityLabs, and the Manchester Enterprise Zone MediPark accommodating the world’s leading healthcare players.

• The Liverpool City Region has a strong industrial focus on pharmaceutical and biopharmaceutical manufacturing and diagnostics, and significant assets in both the research and clinical base, including the Liverpool School of Tropical Medicine, Medicine for Children Research Network, Centre for Personalised Medicine, and six Hospital trusts. It has four universities offering world-class research expertise, including the U.K.’s first University Technical College (UTC) specializing in Life Sciences, seven NHS trusts and more specialist hospitals and health centers than any other U.K. city outside London.

Headline statistics across the Northwest Local Enterprise Partnership

Population (2014)

Working age population (2014)

NVQ4 and above (2014)

GVA, million (2014)

Businesses (local units) (2015)

Cheshire & Warrington

912,800

564,900

217,600

$36,494

46,135

Cumbria

497,900

303,000

86,800

$15,219

27,780

Lancashire

1,472,000

914,400

256,100

$39,203

58,780

Liverpool City Region

1,517,500

969,000

262,900

$39,989

47,530

Greater Manchester

2,732,900

1,758,500

557,400

$81,225

105,235

Sources: Office for National Statistics via Nomis (Population Estimates, Annual Population Survey and Inter Departmental Business Register), ONS Regional GVA Note: Total LEP data may not exactly match data in region table due to rounding

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U.K. REGIONS

• I CT, Creative and Digital – Cloud Imperium Games, Cisco, Microsoft, IBM, Google, and EON Reality.

KEY SECTORS, ASSETS AND CAPABILITIES

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ICT • Manchester is the info tech capital for hardware, software, and IT services with 5,000 computer graduates each year and the U.K.’s largest university computing departments.

The University of Manchester’s School of Computer Science has specialties in informatics leading to powerful collaborations with some of the world’s leading technology companies, such as IBM and Hitachi. International healthcare companies offer opportunities around medical technologies, telemedicine, and eHealth and a professional services cluster and super-fast telecoms infrastructure provides high quality hard and soft infrastructure. IBM has recently opened a new systems software development lab and Microsoft, Oracle, Cisco, Fujitsu, Logica, BT, and Sunguard have all invested in Manchester.

U.K. REGIONS

• Sci-Tech Daresbury in the Liverpool City Region is part of the Cheshire Science Corridor and is a nationally important location for high-tech innovative technology companies and government investment in science/ technology. It is a National Science and Innovation Campus operating large science facilities for the U.K.’s science research council including Blue Joule, the U.K.’s most powerful supercomputer capable of more than 1,000 trillion calculations/second. It has a technology-focused enterprise zone, multiple strategic partnerships across the U.K.’s university and industrial base, and is home to over 100 companies in the digital/ICT, advanced engineering, and clean technology/biomedical sectors.

• Manchester has had $5bn of public and private investment to support the growth of its creative and digital sector.

MediaCityUK is the largest purpose-built media location in Europe – home of six BBC departments including Future Media and Technology, ITV studios, University of Salford’s media, creative and digital campus, and over 80 creative and digital companies; it has the only international internet exchange outside London; and high-speed voice and data networks. There are 7,200 creative and media students in the city region and another 6,000 on computer-related courses.

• The Liverpool City Region has a rich heritage in popular music, film, television, theater, literature, gaming, media, and digital applications. The Liverpool Baltic Triangle is a rapidly growing digital and creative cluster; there is growing data storage capacity and scientific capabilities around big data and informatics; and development of sensor technologies through a Liverpool Universities Sensor City Global Hub for Sensor Technologies.

FINANCIAL, PROFESSIONAL, AND BUSINESS SERVICES

CREATIVE AND DIGITAL

• The Northwest has one of the U.K.’s largest financial, professional, and business services clusters in the U.K. employing around 227,000 people. It is a center for banking, asset and wealth management, legal services, accountancy, venture capital investment, publicprivate partnerships, general insurance, maritime and environmental law, and business process outsourcing.

The Northwest is the largest legal center in the U.K. after London and has a high proportion of the top 100 law firms.

• The Northwest possesses some of the most advanced digital production capabilities in Europe, a wealth of content creators in television, gaming, and mobile, leading academic research departments, thriving digital and creative hubs, and production spaces for feature films, commercials, long-form drama, and audio. Liverpool and Manchester have 12,500 creative and digital business, second only to London in the country.

• Manchester also has the largest U.K. corporate finance market outside London and is an important center for private equity; it has the scale of commercial activity, premier office developments; and a skills pipeline of 30,000 graduates a year from local universities, including Manchester Business School, ranked #1 in the world for accounting research and #1 in the U.K. for business research.

Manchester Airport

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NORTHWEST ENGLAND

• Liverpool is the most important asset and wealth management center in England outside of London with major pension funds and companies such as Pershing, Rathbones, and Deutsche Asset & Wealth Management. It has over 42,000 employees in business administration and is home to Business Processing Outsourcing companies (BPOs) including Bosch, Service Source, and The Contact Company together with a large number of customer service operations including Barclaycard, Santander, and QVC. ENERGY • The Northwest has a hugely significant energy sector supporting around 32,000 jobs with world class expertise and skills in nuclear energy, renewable energy, waste management, and energy management.

• The region is a nuclear “super-cluster” in the U.K. and is one of the world’s largest concentrations of nuclear capability covering the whole nuclear fuel cycle including manufacture of most of the U.K.’s nuclear fuel in Lancashire, through nuclear de-commissioning, nuclear new-build (at Moorside West Cumbria), nuclear R&D, and engineering. It has key assets in the Nuclear Decommissioning Authority’s HQ, the National Nuclear Laboratory, the National Skills Academy for Nuclear, and Manchester University’s Dalton Nuclear Institute.

• The Northwest has the second largest capacity in the U.K. for offshore wind generation with a $21bn program of offshore wind farms in the Irish Sea. The Liverpool City Region is a major offshore wind energy hub and the only U.K. west coast location to have CORE (Centre for Offshore Renewable Engineering) status. The Northwest has an established specialty in wind technology and development, with a number of key companies based in the region. Further renewable potential includes tidal energy with barrage proposals on estuaries, and tidal lagoon proposals in West Cumbria.

ADVANCED MANUFACTURING/ENGINEERING/CHEMICALS • The Northwest is the U.K.’s largest manufacturing region providing 14% of the country’s manufacturing output worth $28bn and employing over 340,000 people.

• Lancashire has the single largest concentration of aerospace production in the U.K., employing over 12,700 people and part of a wider world class cluster that delivers 25% of national production. As well as manufacture of two of the world’s most advanced fighter aircraft – the Typhoon and the F35 – it has strong supply chains covering design, testing, manufacturing, and repair and maintenance for civil and military aircraft. It is at the forefront of global innovation in UAV technology – Taranis, the world’s most advanced UAV, was designed, built and tested in Lancashire. Major employers include BAE Systems, Rolls Royce, Safran Aircelle, Goodrich, Assystem, and Ferranti.

• The Liverpool City Region, Cheshire and Warrington and Lancashire have a strong tradition as an international

automotive industry center with globally significant car manufacturers such as Jaguar Land Rover, General Motors (Vauxhall), Bentley Motors, Paccar, and Ford Getrag.

They also make up one of the most important chemical manufacturing sector clusters in the U.K. • Cumbria has defense and marine engineering expertise and capability as the U.K.’s center for construction of the Royal Navy’s submarine fleet, including the U.K.’s Trident nuclear deterrent, development of offshore wind, oil and gas technologies, and deep water subsea engineering. It has two of the U.K.’s largest industrial sites at the Sellafield nuclear plant in West Cumbria and the BAE submarine shipyard at Barrow. Other multi-national companies operating in Cumbria include Pirelli Tyres, Nestlé, United Biscuits, Iggesund Paperboard, Kimberley-Clark, GSK Bio-Pharmaceuticals, Innovia Films, and Siemens Sub-sea Technologies.

• Manchester is a U.K. center for development of Advanced Materials, particularly graphene. The Nobel Laureates that discovered graphene, work alongside 200 other researchers and industry at Manchester’s National Graphene Institute developing applications of the future.

This, together with the Graphene Engineering Innovation Centre opening in 2017, and the Sir Henry Royce Institute for Advanced Materials opening in 2018, will provide Manchester with world-leading facilities for the discovery and translation of new materials.

Key sectors across the Northwest LEPs include: Cheshire & Warrington • Part of the Northwest cluster of international importance, the nuclear sector plays a key role in R&D and fuel enrichment • Other specialties include automotive, chemicals, financial services and life sciences Cumbria • Sellafield is the world’s most concentrated nuclear energy site • Other specialties include renewable energy, advanced manufacturing/engineering, and food & drink Lancashire • Single largest concentration of aerospace production in the U.K. • Other specialties include advanced manufacturing/ engineering, food & drink, and energy Liverpool City Region • Automotive, life sciences, creative and renewables are notable strengths • Other specialties include asset and wealth management, business process outsourcing, logistics, and computer gaming Greater Manchester • MediaCity U.K. is the largest purpose-built media location in Europe • Other specialties include financial services, ICT (software/hardware), life sciences, and advanced materials/graphene Sources: www.localinvestuk.com, Surfacing the National Offer

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U.K. REGIONS

• The Northwest has the U.K.’s most significant shale gas reserves estimated at up to nearly 1400 trillion cubic feet of recoverable reserves. Lancashire is the focus of plans that the U.K. Government is currently considering for shale gas exploitation.

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LONDON

London: World Capital of Business London

London is a global leader in business. The city has once again clinched the top spot in Europe as overall winner in the Financial Times’ fDi Intelligence European Cities & Regions of the Future Awards 2016/17, with a total of six awards: • Winner overall in Europe • Winner overall in Northern cities • Winner overall in major cities • Winner in major cities for economic potential • Winner in major cities for human capital and lifestyle • Winner in major cities for business friendliness

U.K. REGIONS

WHY SET UP AND SCALE YOUR BUSINESS IN LONDON London is an extraordinary place of opportunity and innovation with a concentration of capital, specialist business clusters, a highly skilled labor force, attractive incentives, robust infrastructure, and access to global markets. This climate is not only fueling London’s high-growth sectors, but also encouraging convergence and growth of emerging industries and cutting-edge technology. The U.K. capital is home to 40% of the global or European headquarters of the world’s top companies, plus it continues to attract over twice as many headquarters investments than any other European city.

London is constantly evolving and future-proofing to remain a global leader. Citywide transformation means there are significant infrastructure and development opportunities, and international investors are accelerating these, cementing London’s position as a pioneering location for the present and future.

GLOBAL TALENT HUB London’s primary asset is its human capital: a highly skilled, diverse and multi-cultural labor force. The city is rich in both local and global talent, with London being recognized as the number one relocation destination for professionals. More than 37% of its 8.7 million population was born abroad and over 230 languages are spoken, which adds to its ever-changing cultural vibrancy. Deloitte also rates London as Europe’s leading center for high-skill employment, with over 60% of inner London’s working-age population holding a degree.

ACADEMIC AND RESEARCH EXCELLENCE London is recognized as a world center of excellence in research and education, with one of the largest critical masses of educational and academic facilities anywhere in the world, including four universities in the world top 30. Over 376,000

students are currently studying at London higher education institutions, of which more than 107,000 are overseas nationals, including more than 6,300 American students.

COMPELLING BUSINESS INCENTIVES As well as a pro-business climate, there are a number of specific initiatives to help companies setting up in London: • Entrepreneurship visas: There are now temporary entrepreneur visas for those seeking start-up funding whereby, when seeking venture capital funding in the U.K., such entrepreneurs may stay for a period of up to 6 months. A Tier 1 Entrepreneur visa is also available to business owners and founders.

• Progressive cuts in corporation tax: with corporation tax at 20%, the U.K. has the joint lowest basic tax rate in the G20.

Rates will fall further to 18% by 2020.

• R&D tax incentives: The incentives are most attractive for SMEs, who can claim a deduction of 230% of R&D expenditure.

• Entrepreneurs’ relief from capital gains tax: maximum lifetime claim doubled from $7.2 million to $14.4 million (£5mn to £10mn).

• EIS: Enterprise investment schemes (EIS) and venture capital trusts offer 30% tax relief on investments up to £1 million and £200,000 respectively.

• Patent Box: a scheme that allows companies to apply a 10% rate of corporation tax to all profits attributable to qualifying patents, whether paid separately as royalties or embedded in the sales price of products.

OUTPERFORMANCE IN KEY SECTORS London’s robust business climate and infrastructure enable a broad range of sectors and industries to thrive. London outperforms in key sectors including technology, financial services, professional services, creative industries, and life sciences.

TECHNOLOGY London, Europe’s fastest growing digital cluster, is home to almost 40,000 digital technology companies and Europe’s largest and fastest-growing tech market worth nearly $26bn. It offers unrivaled access to talent, markets, capital, and infrastructure. There are currently 195,900 digital technology employees together with 22,000 students studying computer science and mathematics in London, a city that is ranked as Europe’s number one for scale ups.

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We provide free, confidential and bespoke advice based around business drivers to help companies make better informed decisions more quickly. Working with a network of over 1,000 partners, we provide investors with the information they need to take advantage of London’s opportunities from day one.

Our specialist business network can help you: • • • • •

Create a powerful business case for expanding to London Find the best location Recruit the right people Create the perfect office Build a network of partners CONTACT US For practical information on how to set up and grow your business in London, visit www.invest.london or contact us to see how we can help.

Twitter: @L_PBusiness Join our LinkedIn London & Partners FDI Group

Tower Bridge

FINANCIAL SERVICES AND PROFESSIONAL SERVICES London is the world’s leading financial center – holding top spot in the Global Financial Centers Index. It is home to over 250 foreign banks (more than New York, Paris, or Frankfurt), plus it represents the world’s largest foreign exchange market, center for cross border banking, and OTC derivatives trading hub. It is also Europe’s top legal and dispute resolution market, a global insurance hub and home to leading accountancy firms and consultants. Employment in London’s financial and professional services sector is at a record high with over 729,000 employed in the capital.

CREATIVE INDUSTRIES

LIFE SCIENCES London has one of the world’s most connected research and commercial life science ecosystems with nearly 1,000 life sciences companies with $23bn being invested annually in public sector healthcare, research, and teaching. London is home to world class healthcare, science, and academic institutions including the Francis Crick Institute, Europe’s largest center for biological research and innovation. It is also home to the support system and regulators that thriving life sciences companies need, including EMA (European Medicines Agency) and MHRA (Medicine and Healthcare Products Regulatory Agency).

HOW LONDON & PARTNERS CAN HELP YOU SET UP AND SCALE YOUR BUSINESS London & Partners is the official promotional company for London funded by the Mayor of London and a network of commercial partners. We are the experts on doing business in the capital, helping overseas businesses to set up, and grow.

Our team can advise you on every aspect of locating and doing business in London.

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Craig Harrison Head of North America London & Partners 6th Floor, 2 More London Riverside London SE1 2RR Tel: +44 (0) 207 234 5889 Email: charrison@londonandpartners.com NEW YORK Pru Ashby Vice President, Business Development London & Partners 845 3rd Avenue, 9th Floor New York, NY 10022 Tel: +1 212-745-0481 Email: pashby@londonandpartners.com LOS ANGELES James Cummings Vice President, Business Development London & Partners 520 Broadway Santa Monica, CA 90401 Tel: +1 818-408-9735 Email: jcummings@londonandpartners.com SAN FRANCISCO Penny Harwood Vice President, Business Development London & Partners 415 Jackson Street, Suite B San Francisco, CA 94111 Tel: +1 415-391-0191 Email: pharwood@londonandpartners.com

U.K. REGIONS

London is a global creative capital with world class talent in design, film and television, radio, fashion, architecture, gaming, music, advertising, publishing, and the performing arts. London’s creative industry is the capital’s second largest sector, worth $50bn per year and generating 11% of the city’s annual GVA. London has attracted more investment in the creative industries since 2003 than any other European city.

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SOUTHEAST ENGLAND

Southeast England Oxfordshire

Buckinghamshire Thames Valley

Thames Valley Berkshire

Southeast

Enterprise Coast to M3 Capital Solent

The Southeast (central and south) region essentially consists of seven Local Enterprise Partnerships (LEPs); Oxfordshire LEP, Buckinghamshire Thames Valley LEP, Thames Valley Berkshire LEP, Enterprise M3 LEP, Solent LEP, Coast to Capital LEP, and South East LEP. The combined area has one of the U.K.’s most diverse and powerful economy’s and is regularly placed in the top ten of Europe’s most economically prosperous regions. It is driven by its proximity to London, London Heathrow (a global hub) and London Gatwick airports, one of the U.K.’s largest ports (Southampton), and quick and easy access to Europe. The area has already attracted significant U.S. investment across a diverse range of sectors and continues to generate new commercial opportunities in both supply chain and prime activities through promotion of innovation, highly skilled local labor force, and international recognition.

U.K. REGIONS

Often referred to as the U.K.’s ‘Silicon Valley’ the Thames Valley sub-region of Oxfordshire, Berkshire, and Buckinghamshire is also home to: • 115 businesses, including 11 of the world’s top 15 knowledge-based companies.

• 10 of the top 50 global organizations in the world; 13 of the world’s top $30bn brands.

• Over 7 million people living within an hour of the Thames Valley; over 25 million within the catchment that includes London.

• Some major new infrastructure investments, including Crossrail, WestRail, Access to Heathrow airport, Reading Railway station, and M4 (smart) motorway.

The region is also home to some of the world’s iconic leisure and heritage assets, including Windsor Castle, Henley Royal Regatta, Royal Ascot – Britain’s most valuable race meeting, Twickenham – England rugby HQ, Eton College – founded

South East

by King Henry VI in 1440, Wimbledon – the oldest tennis tournament in the world, Wembley stadium – home of English soccer, and the University city of Oxford’s Dreaming Spires.

KEY SECTORS, ASSETS AND CAPABILITIES ADVANCED ENGINEERING/MANUFACTURING • The Solent and Coast to Capital areas have strength in: – Marine – the U.K.’s largest cluster, including advanced technology in composite materials and artificial intelligence.

– Oil & Gas – cluster of up-stream, down-stream, and exploration companies.

– Optical Technologies – world-leading research with Solent universities & local commerce.

– Vacuum Technology – research & manufacturing centered on Kent and east coastal areas.

– High Performance Technologies – Silverstone Park and the F1 Grand Prix, and Cranfield University links with local automotive companies.

– Energy & Environment – Newhaven Port chosen for the U.K.’s newest offshore wind farm installation and operation through EoN. Existing U.S. companies: • Garmin – European headquarters, marine navigation systems • Lockheed Martin – mission systems • Pall Europe – filtration systems • Exxon – oil & gas producer AEROSPACE • Strong in Enterprise M3, Solent and Coast to Capital areas including:

– Three technology centers at the University of Southampton – vibration & noise reduction.

– Varied advanced defense manufacturing with Lockheed Martin in the Solent & Bedfordshire areas.

Headline statistics across the Southeast Local Enterprise Partnership

Population (2014)

Working age population (2014)

NVQ4 and above (2014)

GVA, million (2014)

Businesses (local units) (2015)

Buckinghamshire Thames Valley

521,900

322,000

146,400

$21,159

32,050

Coast to Capital

1,978,800

1,237,200

483,400

$69,374

97,075

Enterprise M3

1,664,700

1,028,100

432,100

$71,433

95,095

Oxfordshire

672,500

431,400

205,100

$29,353

35,075

Solent

1,578,100

983,200

353,400

$36,213

68,340

South East

4,097,300

2,512,700

740,800

$116,108

182,110

Thames Valley Berkshire

885,700

568,700

253,100

$49,392

47,475

Sources: Office for National Statistics via Nomis (Population Estimates, Annual Population Survey and Inter Departmental Business Register), ONS Regional GVA Note: Total LEP data may not exactly match data in region table due to rounding

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SOUTHEAST ENGLAND

– National Aerospace Technology Institute – advanced engineering and transport related technologies.

– Dedicated aerospace engineering education (Northbrook College) and aircraft simulation at Gatwick airport.

– Farnborough – wind tunnel testing facilities and internationally renowned airshow – Large supply chain opportunity to aircraft manufacturing in Solent & Bedfordshire areas (Airbus).

• Surrey and Oxfordshire have strength in space technologies: – The Surrey Space Centre is a world-leading center of excellence in space engineering with recent credits from NASA’s Chief Scientist who hailed Surrey’s engineering expertise.

– Surrey’s pioneering small satellite activities at the University of Surrey led to the formation of a highly successful company Surrey Satellite Technology Ltd (SSTL) – now part of the Astrium group.

– The Surrey Research Park provides a major center of excellence in technology, science, health, and engineering and is widely regarded as the best science park of its kind in the U.K. – Harwell in Oxfordshire is a leading science, innovation, technology, and business campus.

Nowhere else on the planet boasts Harwell’s unique combination of world-leading talent and facilities centered on course sectors.

– The gateway to the U.K.’s space industry, Harwell is home to the U.K.’s national (Diamond) Synchrotron facility; over 5,000 people and 200 businesses and organizations, including key U.K. Research Councils, the European Space Agency (ESA), start-ups and multinational organizations that focus on a range of commercial applications. These include healthcare, medical devices, space, detector systems, computing, green enterprise, and new materials.

CREATIVE, DIGITAL & IT Well represented across the Thames Valley, and elsewhere in the region: • Home to Pinewood Studios and icon film brands such as James Bond 007 and Star Wars.

• Internationally recognized creative and high-end gaming excellence in Brighton and Horsham; e-education and e-health in Croydon.

• The University of Brighton – industry-leading graduate and post-graduate courses in digital arts and media production.

• Mega-data center cluster centered on Slough (over 25 data centers).

Existing U.S. companies: • IBM – U.K. headquarters • Microsoft • Oracle • Cisco – European headquarters • Jim Henson Productions – Television production & video distribution

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• Warner Bros. – film studios (Elstree) & production • Dell – hardware manufacture BUSINESS, PROFESSIONAL & FINANCIAL SERVICES Prevalent in the west and south of the region predominantly.

• Fintech development and wealth management in the Solent and south coast area.

• Back-office support cluster in Croydon for London-based commerce.

• Global consumer credit services based in Brighton.

• BPFS center of excellence emerging in Solent/Enterprise M3 area to support fintech & skills development.

• Highest output of patent generation in the U.K. in the Thames Valley area.

• Henley Business School, a world top 50 establishment.

• University of Oxford – 3rd highest ranking university in the world.

Existing U.S. companies: • American Express – European headquarters in Brighton • Towers Watson – actuarial & consultancy ENVIRONMENTAL TECHNOLOGIES Clusters can mainly be found in Kent and the south coast: • University Technical College in Newhaven supporting developments in clean energy.

• Offshore wind farm generation; expertise in turbine blade generation on the Isle of Wight & Kent.

• Centre for Renewable Engineering (CORE) located in Kent cluster to support the U.K.’s largest offshore wind installations at London Array and Thanet.

• National Academy Hubs for renewable energies located in Sussex to provide high-level skills.

Existing U.S. companies: • MHI Vestas – turbine blade manufacture LIFE SCIENCES & HEALTHCARE Includes clusters of excellence in biotech, pharma, and medtech.

• ‘Golden Triangle’ – London, Oxford and Cambridge – European ‘super-cluster’ comparable to the Massachusetts Cluster. Named as one of the top global regions to watch

by Jones Lang LaSalle.

• Milton Park, Oxfordshire – one of the largest U.K. concentrations of life sciences and pharma.

• Design & manufacturing clusters in medtech and devices in Crawley/Gatwick and Harlow areas.

• Discovery Park in Kent houses a cluster of 130 leading biotech, pharma, and healthcare companies Existing U.S. companies: • Abbott Laboratories – pharmaceutical and healthcare • Johnson & Johnson – healthcare • Allergan – pharmaceutical • Varian Medical Systems – medtech TRANSPORT & LOGISTICS Mainly based around the coastal ports and airport areas of the region.

• Southampton is the U.K.’s largest cruise market port.

• London Heathrow airport, a global hub providing access to over 180 worldwide destinations, including 22 in North America.

• London Gatwick airport, U.K.’s second largest airport offering access to over 200 worldwide destinations across 40 countries.

• Farnborough airport – the region’s premier business airport.

U.K. REGIONS

Existing U.S. companies: • Lockheed Martin – mission systems • STSL Satellites – satellite manufacture • RAL Space – research & development of space missions • Northrop Grumann – integrated systems • Eaton Corporation – hydraulic systems

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SOUTHEAST ENGLAND

Existing U.S. companies: • Carnival Cruises – European HQ & carbon footprint technology with University of Southampton.

• UPS Worldwide – parcel distribution & supply chain management.

• Amazon – consumer product distribution.

• Flight Safety International – flight training center at Farnborough.

• Boeing – state-of-the-art, network-enabled center for collaboration and experimentation.

• Clinical ‘mega’ trials. A number of U.S. companies financially support collaborative multi-center clinical trials led or co-led by the University in the Clinical Trials Research Unit (CTSU) and the Diabetes Trials Unit (DTU).

These trial units in Oxford are well regarded internationally as key centers of excellence in these types of analyses and a key draw for pharma companies to invest resources in the U.K. Examples include:

AGRI-TECH & FOODS Clusters of excellence in Kent, Surrey, and Bedfordshire.

• Leading R&D activity in genomics, pest and weather resistance.

• East Malling Research Centre, renowned for its work in horticultural & environmental sciences.

‘MEGA’ DATA CENTER CLUSTER Slough, Berkshire is at the heart of a U.K. data center cluster, with over 2 million sq ft of accommodation and supporting ecosystem, which includes: • Dense, reliable power & fiber networks/connections linking the U.K. with Europe and the U.S. via numerous fiber suppliers.

• Twenty plus data-centers, and counting.

• Market Leader: Slough has a leading position in this sector – 16% of market (2013/14).

• Strong and extensive investment portfolio: clients include and range from U.S. banks, blue-chips and SMEs.

U.K. REGIONS

ACADEMIA, APPLIED RESEARCH AND SKILLS Employers are served by 20 universities and higher education institutions within a 50 mile radius. These establishments contribute over 66,000 graduates to the market place each year and include: • • • • • • • • • •

The University of Oxford Henley Business school The University of Surrey, Guildford Brunel University, West London, Egham Royal Holloway, University of London, Egham Thames Valley University, Reading and Slough The University of Reading Oxford Brookes University Buckinghamshire New University University of Buckinghamshire

The University of Oxford is ranked 3rd overall in the 201516 ranking of the Times Higher Education World University Rankings and is placed top, for the 5th year running, of the league table for clinical, preclinical, and health subjects.

The connections between Oxford and the U.S. are strong as is the spectrum of the University’s activities.

• The U.S. is the largest source of students and staff outside of the U.K. and is home to the largest number of international Oxford alumni.

• Oxford academics and scientists publish research with American colleagues more frequently than with any other nationality.

• The U.S. provides the largest source of funding for research outside of the U.K. • The Oxford University Press, Inc. (OUP USA), established in 1896, is Oxford University Press’s second major publishing center after Oxford, and is by far the largest university press in the USA.

– Merck & Co. Inc (Kenilworth, NJ) funding the TECOS study @ DTU. – Amylin Pharmaceuticals (San Diego, CA) funding the EXSCEL Trial @ DTU.

Key sectors across the Southeast LEPs include: Buckinghamshire Thames Valley – A strong creative and media sector, with over 300 companies centered on Pinewood Studios. Other specialties include pharmaceuticals, sports science, assistive technology, product design, rehabilitation industries, and ICT/software.

A three-sited Enterprise Zone status was awarded in 2015 based in Aylesbury Vale.

Coast to Capital – An internationally recognized digital media cluster, particularly in gaming and e-learning.

Other notable specialties include life sciences (medtech), aviation simulation, financial & business services, and environmental technologies. A single-sited Enterprise Zone status was awarded to Newhaven Port in 2015.

Enterprise M3 – A hub for space technology with expertise in small satellite technology, aerospace & defense, financial & business services (legal/ management; consultancy/accounting), life sciences and creative/digital/gaming. A three-sited Enterprise Zone status was awarded in 2015 based across the LEP area (Basing View, Bordon & Whitehill, and Longcross).

Oxfordshire – A U.K. scientific hotspot hosting thriving sectors in life sciences (drug discovery and development, diagnostics, medical technology, lab reagents, bioinformatics and digital health): advanced engineering and creative industries. Harwell is the U.K. Space Gateway, a global center of excellence for upstream and downstream space technologies and big science. A second Enterprise Zone designation has been awarded to an area in Didcot.

Solent – The region is home to the U.K.’s most extensive marine and maritime cluster, including autonomous and sub-surface vehicles. Other notable specialties include aerospace, banking and insurance, and major sea port activities. CEMAST (Center of Excellence in Engineering, Manufacturing and Advanced Skills Training) opened in 2015 to support and grow local skills and multi-sector innovation.

South East LEP – Kent is a center of excellence for the offshore wind sector; life sciences, insurance, and food & drink. East Sussex has a strong computing and communications cluster, and specialties in creative/ animation and green technologies. A three-sited Enterprise Zone status awarded in 2015, called ‘Innovation North Kent’.

Thames Valley Berkshire – A significant ICT location including software development and mobile communications. Other notable specialties include life sciences and banking, finance & insurance and energy & environment.

Sources: www.localinvestuk.com, Surfacing the National Offer

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EASTERN ENGLAND

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Eastern England Greater Cambridge Greater Peterborough

South East Midlands

New Anglia

Eastern England

South Hertfordshire East – Essex

Eastern England, comprises six counties – Bedfordshire, Cambridgeshire, Essex, Hertfordshire, Norfolk, and Suffolk – now administered within four Local Enterprise Partnerships.

The area has a fast growing and diverse economy which attracts and supports investment across a number of sectors and, according to the latest forecasts, is expected to outperform the U.K. as a whole in the medium to long term.

Underpinned by the highest rate of business research and development expenditure in the U.K., some of the factors in this success are: • Strategic position and links: Close to London, direct access to Europe through its ports, and international connectivity through “London” branded airports.

The region’s assets and capabilities are being augmented by the launch of further Enterprise Zones, complementing those already established, those not mentioned below are Alconbury, Cambridge Compass, Norwich International, and Hertfordshire.

FOOD AND AGRICULTURE The region’s food and drink industry has a strong foundation and is a growing business sector.

• Rothamsted Research in Hertfordshire, one of the oldest agricultural research institutions in the world, founded in 1843.

• Colworth Park, one of the areas open innovation centers, has been home to Unilever R&D for more than 60 years.

• Norwich Research Park, already a world-class center for R&D in food, health and environmental sciences will, by 2018, house The Quadram Institute which will integrate research teams from the Institute of Food Research, the University of East Anglia, and the Norfolk and Norwich University Hospital under one roof.

• The National Institute of Agriculture and Botany (NIAB) based in Cambridge and part of Cambridge University.

• The regional network, Agri-Tech East, with its 200 members brings together agricultural and technology companies, such as Microsoft, to solve world food problems.

• All complimented by three food Enterprise Zones in Norfolk and Suffolk.

ADVANCED MANUFACTURING: Essex’s strengths in manufacturing and technology are recognized by significant investment in: • Raytheon’s Technology Centre of Excellence and U.K. headquarters in Harlow Enterprise Zone • Cranfield Technology Park, world renowned for innovation and linked to a leading postgraduate university with 750+ business collaborations, including Boeing and Rolls Royce, and host of the National Aerospace Technology Institute.

Headline statistics across the East of England Local Enterprise Partnership

Population (2014)

Working age population (2014)

NVQ4 and above (2014)

GVA, million (2014)

Businesses (local units) (2015)

Greater Cambridge Greater Peterborough

1,408,300

881,700

317,700

$50,420

68,365

Hertfordshire

1,154,800

730,200

312,500

$46,657

63,020

New Anglia

1,616,200

967,300

274,100

$48,286

71,645

South East

4,097,300

2,512,700

740,800

$115,483

182,110

South East Midlands

1,781,300

1,134,300

381,600

$65,690

84,590

Sources: Office for National Statistics via Nomis (Population Estimates, Annual Population Survey and Inter Departmental Business Register), ONS Regional GVA Note: Total LEP data may not exactly match data in region table due to rounding

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U.K. REGIONS

• Academic excellence: As well as the world renowned Cambridge University, skills and research specialties come through Anglia Ruskin University (Medical Technology), the University of Bedfordshire (Computer Science and Business), Cranfield University (Business Management), the University of Essex (Big Data, Robotics, and Politics), the University of East Anglia (Medicine, Health & Biological Science, and Computing), the University of Hertfordshire (Film Animation and Computer Science), and Norwich University of the Arts

KEY SECTORS, ASSETS AND CAPABILITIES

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EASTERN ENGLAND

• Bedford – site of the Aircraft Research Association’s wind tunnel testing facility for fighter and commercial planes.

• Other well-known names include Cummins Engine Co., Caterpillar – Perkins Engines, and Peter Brotherhood, steam turbine manufacture, now owned by Hayward Tyler (all in Peterborough), the Welding Institute (near Cambridge), and Lockheed Martin, defense related products (Ampthill, Bedfordshire).

AEROSPACE There is a wide ranging aerospace presence in the area, GE Aviation, BAE Systems, B/E Aerospace, Gardner Aerospace, and Hexcel Composites. The concentration of leading aerospace companies has enabled the development of strategic clusters that are focusing on skills development, procurement and high level supply chain development.

• London Stansted Airport (Essex), the U.K.’s third busiest passenger airport and second largest airfreight terminal.

U.K. REGIONS

• London Luton (Bedfordshire) home to aerospace, aviation and defense companies including Gulfstream. The recently established Luton Airport Enterprise Zone is supporting significant investment and growth.

CREATIVE INDUSTRIES: The U.K. combines a world class creative talent base with an established tech sector, an ecosystem of innovators and a big market opportunity. London & the Southeast of England account for 43% of employment in the U.K.’s creative economy.

• The Warner Bros. Studio in Leavesden (Hertfordshire) is the largest feature movie studio space in the U.K. Alongside is the BBC’s Elstree Studio. Elstree has seen the production of numerous big budget productions. The entire area is now being branded and promoted as “Creative Southeast”, a global center of excellence for the creative industries.

• The Greater Cambridge area is home to several computer chip manufacturers – ARM’s software development is strongly represented in the city, together with Frontier Developments, Sony Guerilla and the U.K.’s largest independent games developer, Jagex Games.

• The 2016 Tech City report recognizes a vibrant digital creative sector focused both around Norwich and at Adastral Park near Ipswich, the home of British Telecom’s research center.

ENERGY

• Norwich Airport with its new aviation academy training on aircraft maintenance/service operations.

More than $70bn will be invested in the energy sector in Eastern England over the next 20 years.

• Marshalls Aerospace based at Cambridge airport, U.K.’s largest independent aerospace and defense company offers full-spectrum engineering capability, from concept through to delivery and support of fully-certified solutions. Marshalls has just secured a $520 million U.K. Ministry of Defence contract for MRO services for the U.K.’s C-130 fleet.

• The energy focused and expanded Enterprise Zone (EZ) in Great Yarmouth and Lowestoft has the closest proximity to what is one of the world’s largest planned wind farms – the East Anglia Array. The EZ offers the energy sector benefits that include discounts on business rates, simplified planning, and superfast broadband. This has already attracted such U.S. investors as Hydra-Rig .

• Space and satellite engineering, communication technologies, defense and security-related logistics. Airbus Industries, Europe’s leading supplier of satellites, launchers, and space services, employs 1,500 scientists, engineers and technicians in Stevenage, Hertfordshire. MBDA Missile Systems also have facilities in the region.

• This EZ is one of the government designated “Centers of Offshore Engineering”, as is another in north Essex.

AUTOMOTIVE • It is now 60 years since the departure of the U.S.A.F. 2nd Combat Bombardment Wing from their WWII base at RAF Hethel in Norfolk. The former airfield provides the factory site for Lotus, a class-leading manufacturer of sports cars, and the Hethel Engineering Centre providing a globally respected automotive engineering consultancy. Lotus uses parts of the airfield as a testing track.

• Ford’s Headquarters and European research center in southern Essex continues to prosper with investment from partners and suppliers.

• General Motors van production in Luton (Bedfordshire) has been re-energized.

• Millbrook Proving Ground and Technology Park (Bedfordshire), home of Navistar, provides a 700 acre park providing test and engineering solution providers for the automotive, public transport, energy, and defense markets.

• Cosworth Engineering based in Northampton and Cambridge provides the electronics for the Chevrolet Corvette Stingray, as well as performance powertrain, electronics, and component supply to many other global auto companies.

• The nuclear generation plant at Sizewell is proposed for expansion, following the U.K. government’s successful deal with world leading suppliers.

FINANCIAL AND BUSINESS SERVICES Extending eastwards from the City of London along key transport routes, the London-Essex U.K. Finance Corridor is home to 1,600 plus financial and business services companies.

• Major companies in this sector include Amlin plc, Friends Life, Equity Red Star, and International Financial Data Services.

• Norwich and Ipswich are national centers for the financial sector. Norwich has been a base for the financial industries for over 200 years and boasts a financially literate, highlyskilled and stable labor force recruited from local colleges and universities. It is home to the U.K.’s first National Skills Academy for Financial Services and the birthplace of Barclays plc and the U.K.’s largest insurer, Aviva (formerly Norwich Union).

• Hertfordshire is a leading outer London location for European and U.K. headquarters, with over 30 companies consistently realizing over $1bn in annual U.K. sales.

• Over 15% of people in Suffolk are currently employed in finance, accountancy, and financial services, including accountancy, banking, finance, financial planning, insurance, investments, and pensions.

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EASTERN ENGLAND

ICT • Essex has a strong ICT base with companies serving the media, software development, public relations, defense, automotive, aerospace, and business services industries.

• A skilled labor pool is available and the existing Tech City cluster in east London is easily accessible. Companies in the ICT and advanced electronics sector include Gigawave (Colchester, Essex) and MTL Instruments Group, a division of U.S. company, Cooper Crouse-Hinds (Luton, Bedfordshire).

• Everything Everywhere (EE) are headquartered in Hertfordshire. One of the leading centers of communications innovation worldwide, Adastral Park near Ipswich is BT’s global innovation and development center and home of pioneering work in optical technologies and digital switching. It is recognized as one of the leading centers of technical innovation in the communication world and home to a growing network of over 40 related companies, including Cisco.

• Microsoft R&D is based at new CB1 development in central Cambridge, strategically partnering with Cambridge University via the William Gates Computer Lab building in west Cambridge.

• U.S. spend on Cambridge Artificial Intelligence technology has now hit $1bn following Microsoft’s acquisition of SwiftKey which was founded by two Cambridge graduates.

This followed Google’s $577 million acquisition of DeepMind Technologies – machine learning /artificial intelligence. Cambridge is #1 of two global locations leading the development of these technologies.

• Apple has recently acquired a Cambridge-based voice recognition technology company, Vocal IP. PHARMACEUTICALS & HEALTHCARE

• The embedded Enterprise Zone in Harlow (Essex) focuses on Medical Devices.

• Companies involved in the development of life sciences who locate in eastern England will be joining a range of international organizations, including AstraZeneca and Amgen, thereby gaining access to several world-leading research facilities, including the new Precision Medicines Catapult in Cambridge.

• The Cell Therapy Catapult is to build its $78 million state-ofthe-art manufacturing center at the Stevenage Bioscience Catalyst which is expected to create up to 150 jobs.

• The new Cambridge Biomedical Campus is the largest center of health science and medical research in Europe, and one of the largest in the world. The new innovation center and phase two of development is presently seeking investment.

• Bio Med Reality Ltd manages Granta Park to the south of Cambridge. Several global companies have located to the site, including Illumina in their new 225,000 sq ft state-ofthe-art building, and Gilead’s new $40 million facility.

• The Wellcome Trust Sanger Institute is expanding the Genome Campus site at Hinxton, near Cambridge, as part

of a 20 year development plan. This campus is home to some of the world’s foremost institutes and organizations involved in genomics and computational biology.

• In September 2015 the Chancellor of the Exchequer announced significant investment towards the creation of new world-class public health laboratories in Harlow (Essex). This will ensure that Public Health England will be well placed to collaborate and engage with both academia and the life sciences industry, enabling it to continue its vital work in tackling some of the biggest issues in public health.

TRANSPORT AND LOGISTICS • UPS’s $170 million investment at London Gateway (their largest distribution center outside the U.S.) will accommodate growth and ensure continued reliability and capacity.

• The Port of Felixstowe is the U.K.’s largest container port • Airports and excellent infrastructure all accommodate transport internationally by sea and air, as well as throughout the U.K. by road.

• Amazon fulfillment centers have developed across the region over recent years.

Key sectors across the Eastern England LEPs include: Greater Cambridge Greater Peterborough • Home to internationally leading-edge sectors including life sciences, cleantech, advanced manufacturing/engineering (including aerospace), ICT/digital/creative (electronics, software development, gaming), and food and drink Hertfordshire • Home to over 200 globally significant pharmaceutical, biotechnology, and medical device companies and institutions • Other specialties include space, engineering, communication technologies, security equipment, logistics, and creative/movies New Anglia • A major U.K. location for energy activities including offshore wind, oil and gas, and nuclear generation • Other specialties include financial services (insurance), food and drink, creative/digital, health and environmental science, and ICT/communications South East – Essex • Has a strong manufacturing base. One in 20 jobs in advanced manufacturing. An estimated 710 advanced manufacturing firms and 800 technology companies in the county • Other specialties include ICT, logistics, and life sciences South East Midlands (overlapping with adjacent region) • At the heart of a high performance technology and motorsports cluster of 1,500 companies • Other specialties include logistics, food and drink, aerospace/defense/electronics, and sustainable construction/renewable energy technologies Sources: www.localinvestuk.com, Surfacing the National Offer

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U.K. REGIONS

• The “M11 corridor”, according to independent research (London Stansted Corridor Consortium) holds “The largest life science cluster outside the U.S.”

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SOUTHWEST ENGLAND

Southwest England Gloucestershire West of England Swindon & Wiltshire

Southwest

The Southwest of England is the U.K.’s largest regional area covering almost 9,250 square miles.

The area stretches from Cornwall in the south to Gloucestershire in the north and has a population of just over 5.4 million. It is a vast economic geography and includes the major urban centers of Bristol, Bath, Gloucester, Swindon, Bournemouth, Poole, Exeter, and Plymouth.

There are six Local Enterprise Partnerships (LEPs) in the southwest; Gloucestershire, West of England (including Bristol and Bath), Heart of the South West (covering Devon, Plymouth, Somerset, and Torbay), Swindon & Wiltshire, Dorset, and Cornwall.

The Southwest of England is home to approximately 250,000 businesses of which over 2,000 are foreign investors. It has established a reputation as a world-class business location for knowledge intensive industries, supported by a network of 12 Higher Education Institutes and a range of technology centers, science parks, and business incubators.

U.K. REGIONS

KEY SECTORS, ASSETS, AND CAPABILITIES AEROSPACE • One of the most diverse and capable aerospace regions in the world, with a proud aerospace history stretching back over 100 years.

• Capability includes aircraft structures, aero-engines, rotorcraft, unmanned air systems, avionics, landing gear, and a wide variety of systems and components.

• Home to over 800 aerospace related companies including Rolls-Royce, Airbus, BAE Systems, GKN Aerospace, GE Aviation Systems, Cobham, Goodrich, and AgustaWestland.

• Hosts the U.K.’s only aerospace focused Enterprise Zone (EZ) at Cornwall Airport Newquay. This site offers investors the largest planning-free development site in the U.K., and 100% business rate relief. The EZ has recently been extended to include Goonhilly Earth Station for satellite tracking and management operations as well as a center for international data communications and cloud services.

COMPOSITES • Offers an unrivaled concentration of expertise devoted to designing, testing, and manufacturing composite materials for use in the most demanding of environments

Heart of the South West

Dorset

Cornwall & the Isles of Scilly

including marine, renewable energy systems, construction, automotive, and aerospace.

• Home to the National Composites Centre (www.nccuk. com) which works closely with industry and academia to facilitate research into solutions for new lighter and stronger materials.

NUCLEAR ENERGY • Chosen location for two new nuclear power stations; Hinkley Point in Somerset and Oldbury in Gloucestershire.

These multi-billion dollar projects offer potential investors a variety of business opportunities as a result of their wideranging supply chain requirements.

• The Southwest is seen as a Centre of New Nuclear Excellence, and a leading region for vocational nuclear training.

• Boasts a well-established nuclear industry cluster with 200 businesses operating in the sector. The industry is supported by wide ranging R&D expertise centered around the University of Bristol.

MARINE TECHNOLOGY • At the forefront of innovative industry-leading marine R&D for many years with over 620 miles of spectacular coastline, numerous ports, and many successful supply chain companies.

• Boasts some of the U.K.’s most successful and pioneering marine businesses and research institutions, including Babcock Marine, Centek, A&P Falmouth, Siemens, Plymouth Marine Institute, Plymouth Marine Laboratory, Sunseeker, Princess Yachts, Supercat, Atlas Electronik, and Thales.

• Home to Plymouth’s Marine Enterprise Zone, located at South Yard in Devonport, the largest naval base in Western Europe. The EZ offers investors a series of tax breaks and planning flexibilities.

• Particular areas of expertise include composite manufacturing, remote and autonomous vessels, navigation and marine instruments, luxury yacht, military and work boat design.

Headline statistics across the Southwest Local Enterprise Partnership

Population (2014)

Working age population (2014)

NVQ4 and above (2014)

GVA, million (2014)

Businesses (local units) (2015)

Cornwall & the Isles of Scilly

547,600

325,600

106,400

$13,588

27,540

Dorset

759,800

453,400

162,600

$23,249

36,225

Gloucestershire

611,300

378,500

148,800

$21,368

31,930

Heart of the South West

1,701,400

1,023,100

335,400

$47,844

81,860

Swindon & Wiltshire

698,900

434,700

157,000

$23,537

33,235

West of England

1,104,200

712,300

286,800

$44,262

50,945

Sources: Office for National Statistics via Nomis (Population Estimates, Annual Population Survey and Inter Departmental Business Register), ONS Regional GVA Note: Total LEP data may not exactly match data in region table due to rounding

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SOUTHWEST ENGLAND

RENEWABLE ENERGY • Track record of developing ‘firsts’ in renewable energy: – First wind farm in the U.K. – First centralized anaerobic digestion power station.

– First commercial pyrolysis plant.

– First green electrical company and the first underwater tidal stream turbine in the world.

• Over 800 renewable energy companies operate in the Southwest supported by a range of world leading higher education institutions and research organizations such as the Peninsula Research Institute for Marine Renewable Energy (PRIMaRE), Bristol Technologies for the Environment Institute (BRITE Futures), and Bath Institute for Sustainable Energy and Environment (I-SEE).

• Home to Wave Hub in Cornwall, an innovative project testing the effectiveness of wave-based energy generation and the North Devon Tidal Zone which will support the demonstration of tidal stream arrays with a generating capacity of up to 30MW for each project.

MICROELECTRONICS • The Southwest region has produced specialist microprocessors and silicon chips for over 30 years.

• Is home to the largest concentration of silicon designers outside of Silicon Valley.

• Boasts a globally significant cluster including international companies such as Huawei, Toshiba, Altran Praxis, and Cray Supercomputers.

PROFESSIONAL AND FINANCIAL SERVICES • An important location for the professional and financial services industry with AXA, Lloyds Bank, JP Morgan, Aviva, and Coutts investing in the region.

• Key centers around Bristol, Bath, Gloucester, Bournemouth, and Poole employ over 40,000 people in the sector.

• At the core of a ‘near-shoring’ trend amongst financial and professional services firms, the movement of jobs either out of London or from overseas back to the U.K. AMERICAN COMPANIES ALREADY IN THE SOUTHWEST CRAY INC. Cray Inc. A manufacturer of advanced supercomputers who, in 2014 was awarded a multimillion dollar contract to supply the U.K. Met Office, leading to their European headquarters being located in Bristol.

BECTON DICKINSON Becton Dickinson is a leading global medical technology company, headquartered in Franklin Lakes, NJ, who has been operating in Plymouth, Devon since 1981, and Swindon, Wiltshire since 1998. The Plymouth site manufactures a broad range of blood collection products and systems for hematology, coagulation, and special chemistries. The facility in Swindon specializes in the development and manufacture of plastic purpose-designed drug delivery systems.

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FINE TUBES Fine Tubes is a specialist manufacturer of high specification, precision metal tubing for niche markets in the aerospace, medical, oil and gas, and chemical process industries. The company has been operating in Plymouth, Devon since the 1960s, now employing approximately 390 employees.

GE AVIATION – DOWTY PROPELLERS Gloucestershire-based Dowty Propellers, is part of the GE Aviation group, a leader in the design, development, manufacture and support of electronically controlled, allcomposite propeller systems. The company employs 230 people in Gloucestershire and makes use of the nearby National Composites Centre to undertake specialist R&D activity.

SCHLUMBERGER Over 300 people employed at its drilling center of excellence in Gloucestershire providing innovative engineering and quality driven manufacturing, with an emphasis on rotary steerable systems, downhole mud motors, and power source products.

CATERPILLAR MARINE The Wimborne Marine Power Centre in Dorset was founded in 1968 and is now an integral part of the Marine & Petroleum Power Division of Caterpillar Marine. The site manufactures a range of Cat and Perkins-Sabre generators for the marine market.

JP MORGAN Established in 1990 in Bournemouth, Dorset; now employing over 4,000 people supporting financial activities in more than 40 countries.

Key sectors across the Southwest LEPs include: Cornwall & the Isles of Scilly • Excels in research, design and implementation for renewables – solar, wind, and wave • Other specialties include aerospace, advanced manufacturing/engineering Dorset • A center of excellence for animation, VFX, gaming, and digital activities.

• Other specialties include financial services, advanced manufacturing/engineering for aerospace, defense, and marine Gloucestershire • Specialties include: aerospace, advanced manufacturing/engineering, life sciences, financial services, and food and drink Heart of the South West • A strong marine sector and specialties across aerospace manufacturing, advanced electronics/ photonics, medical science and wireless and microwave technologies Swindon & Wiltshire • A center of innovation in automotive, mechanical, electrical and process engineering • Other specialties include life sciences, financial services, low carbon and defense West of England • One of the largest clusters of silicon chip designers outside of California • Other specialties include: aerospace, advanced manufacturing/engineering, creative (animation, digital, gaming), composites, and financial services.

Sources: www.localinvestuk.com, Surfacing the National Offer

U.K. REGIONS

CREATIVE AND DIGITAL • Strong cultural identity and long history in growing and attracting creative and digital businesses to the area.

• Key businesses include the BBC, Aardman, Future Publishing, and Nokia Music plus a range of niche international businesses across gaming, digital publishing, animation, software development, film, video, and TV. • Key clusters exist in Bristol and Bath, which has been recognized by TechCityUK as the largest digital cluster in the U.K. outside of London, and along the south coast in Bournemouth and Poole.

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U.K. REGIONS

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WEST MIDLANDS

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West Midlands Stoke-on-Trent & Staffordshire Greater Birmingham & Solihull Black The Country Marches West Midlands Coventry & Warwickshire Worcestershire

The West Midlands is a diverse area, ranging from the vibrant urban centers of Birmingham and the Black Country to the tranquil rural areas of the Staffordshire Moorlands and Welsh borderlands of eastern Herefordshire, Shropshire, and Worcestershire. The West Midlands is located at the heart of a connected transport network, it has close proximity to London, whilst still enjoying the benefits and opportunities of a regional economy.

The Universities of Warwick and Birmingham are members of the prestigious Russell Group of Universities, which represents 24 leading U.K universities that are committed to maintaining the very best research, and an outstanding teaching and learning experience.

Location, accessibility, and connectivity are key, with half of the U.K.’s 60 million population being within two hours of the West Midlands – and 90% within a four-hour travel time. Being at the heart of the motorway network connects businesses to all major U.K cities and ports – with the U.K.’s major ports being within the statutory 4½ hour HGV driving limit.

There are 114 daily rail services from Birmingham to London daily with a journey time of just over 70 minutes. The development of High Speed Two rail (HS2) will reduce this time to 45 minutes.

The West Midlands has an excellent track record with companies and investors from the U.S. – a key source of inward investment accounting for 20% of foreign direct investment (FDI) into the region. Over the last 10 years, 250 investments from companies such as Kraft, HJ Heinz, and IBM have made the U.S. the global number one investor in the West Midlands.

KEY SECTORS, ASSETS, AND CAPABILITIES ADVANCED ENGINEERING, MANUFACTURING (AEM) & AUTOMOTIVE The West Midlands is a long-established center for U.K. engineering and manufacturing industries, with established supply chains and strong growth in sub sectors, such as automotive.

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• 19% of the U.K.’s skilled advanced engineering labor force is in the West Midlands, with the sector generating nearly $21.6bn for the region’s economy.

• The 11 universities in the region provide a rich talent pool of experienced, skilled, and motivated labor, with highly transferable engineering skills.

• Cutting-edge university expertise in the West Midlands supports industry in the fields of hydrogen fuel cells, engine testing, rapid prototyping, low carbon technologies, intelligent transport systems, and aerodynamics – to name but a few. In addition, the region’s AEM companies benefit from their proximity to numerous Centers of Excellence, such as the U.K.’s High Value Manufacturing Catapult’s Manufacturing Technology Centre, founded by the University of Birmingham, Loughborough University, the University of Nottingham, and TWI Ltd.; the National Automotive Innovation Campus; the Advanced Propulsion Centre; MIRA Technology Park, and the High Temperature Research Centre – all of which are located in the West Midlands.

AGRI-TECH & FOOD & DRINK Key strengths in food production and food processing provide investors with a strong supply chain and the benefits of fast and easy access to a source of high quality raw materials.

Employment in Agri-Tech and Food & Drink is particularly concentrated across The Marches and Worcestershire, with these areas being home to major overseas investors, such as Müller, Arla, Cadbury-Kraft, Cargill Inc, Fullwoods, Hugli, and Senoble.

• Across the region, universities are recognized for food technology and manufacturing expertise, including the food innovation facility at University College, Birmingham.

The West Midlands is home to the $24.5 million Mondelez, Global Center of Excellence for Chocolate R&D. • Harper Adams University, located in Shropshire, is one of the U.K.’s leading universities for the agri-food chain and rural sectors. The university has a long history of excellence and innovation, offering state-of-the art facilities and specialist courses in agriculture, agri-business, animals, engineering, food, rural and land-based studies.

U.K. REGIONS

Birmingham Airport hosts 50 airlines serving more than 140 routes worldwide, including daily departures to New York Newark Airport. Manchester and Heathrow Airports are within a two hour drive, providing access to additional destinations.

• As the heartland of automotive manufacturing, the West Midlands accounts for 30% of all automotive production in the U.K. The region has the highest concentration of Tier 1 suppliers in the country and also boasts over 1,500 second- and third-tier suppliers.

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Headline statistics across the West Midlands Local Enterprise Partnership

Population (2014)

Working age population (2014)

NVQ4 and above (2014)

GVA, million (2014)

Businesses (local units) (2015)

Black Country

1,159,700

719,100

163,100

$27,923

37,060

Coventry & Warwickshire

889,000

564,000

191,600

$31,062

40,155

Greater Birmingham & Solihull

1,983,600

1,249,000

357,900

$60,202

74,925

The Marches

666,700

407,200

126,100

$19,226

34,575

Stoke-on-Trent & Staffordshire

1,111,200

695,000

183,300

$29,102

43,650

Worcestershire

575,400

352,100

125,500

$16,320

27,230

Sources: Office for National Statistics via Nomis (Population Estimates, Annual Population Survey and Inter Departmental Business Register), ONS Regional GVA Note: Total LEP data may not exactly match data in region table due to rounding

AEROSPACE

LIFE SCIENCES & MEDICAL TECHNOLOGIES

The West Midlands hosts one of the world’s major aerospace clusters and supply chains, with major global aerospace players having important operations in the region.

A powerhouse for the life sciences industry, the region combines extensive R&D facilities, strong collaboration between academia and business, as well as one of Europe’s largest, most diverse and non-transient patient populations.

• A cluster hub is organized around a number of major companies in the region – Rolls-Royce (Controls and Data Services), Meggitt, Moog, and UTC Aerospace Systems, in Birmingham, Wolverhampton and Coventry, which supply electro-mechanical systems to control aircraft moving parts – wing flaps and slats, landing gear, wheels and brakes – to aircraft makers like Airbus, BAE Systems, and Boeing, and similar control systems to Rolls-Royce and engine makers across the globe.

• The West Midlands contributions to the latest Airbus A380 super-jumbo and Boeing 787 aircraft show just how robust the cluster’s economy has become.

U.K. REGIONS

• The region hosts the U.K.’s specialist aerospace materials manufacturers including Alcoa (aluminum) and Timet (titanium) in Birmingham, Special Metals Wiggin (specialized alloys) in Hereford.

• The sector benefits from close links with The Manufacturing Technology Centre (MTC) in Coventry, which develops and proves innovative manufacturing processes and technology solutions for businesses. Companies also benefit from the support, networking opportunities and expertise provided by The Midlands Aerospace Alliance.

• With state-of-the-art clinical facilities and strong partnerships between academics and clinicians, the West Midlands is at the cutting edge of medical technology and global healthcare. The University of Birmingham has the second largest medical school in the country; universities across the region provide a strong talent pool of high caliber graduates in medical, biochemistry, and engineering related fields to meet the future needs of investors.

• Of the region’s numerous centers of clinical and academic excellence, 36 are located in Birmingham. This includes the largest Wellcome clinical research facility in the U.K.; NIHR biomedical research unit in liver disease; the first CRUK cancer center, the largest specialist cancer trials unit in the U.K., and a national center for Trauma Research. (Source: The Silk Report 2015) AMERICAN COMPANIES ALREADY IN THE WEST MIDLANDS Cargill – With its Corporate HQ in Minneapolis, Cargill provides food, agriculture, financial and industrial products and services to the World, employing 150,000 people in 70 countries.

BUSINESS, PROFESSIONAL AND FINANCIAL SERVICES Two-thirds of people working in financial and related professional services across the U.K. do so outside of Greater London – with Birmingham now being one of only four cities in the U.K. with over 45,000 people employed in banking and professional services and supported by strengths in both Coventry and Wolverhampton.

• With a history in major manufacturing, the West Midlands has a well-developed local insurance market that has a strong focus on commercial insurance packages. The region is home to major insurance operations such as Allianz, AON, Mercer, Marsh, and Zurich.

• The recent attraction of investment into Birmingham by banks is a clear reflection of success in the sector, such as the continued growth of Deutsche Bank, and with HSBC’s choice of Birmingham for its headquarters.

• As a rich source of research and innovation, universities across the West Midlands are supporting the financial services sector by contributing to regional growth, jobs and infrastructure, and responding to the changing shape and needs of the sector.

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WEST MIDLANDS

Established over 50 years ago, Cargill’s two Hereford sites employ around 2,000 people across production (processing 1.6 million chickens per week) and office based functions, as the company’s central base for its commercial, marketing, development, finance, trading, and procurement teams. In 2013, Cargill announced a 24-36 month phased investment plan for the production plant, investing $50 million to improve efficiencies, upgrade technologies, and create a state of the art processing facility in Hereford. These investments are enabling Cargill to expand its capacity to process and supply fresh U.K. reared chicken for the retail and food service customers.

Caterpillar (CAT Defence) – Based in Shrewsbury, CAT Defence reconditions engine, transmission, undercarriage and hydraulic components from in-service equipment (traditional excavators, bulldozers, backhoes etc.). Shrewsbury also hosts Caterpillar Defence Products and is responsible for the marketing, sales, project management and logistic support of Caterpillar and Perkins diesel engines and transmissions to military and naval customers outside North America. Their engines and drivetrains are in many OEM Vehicles including British Army equipment. Examples are Challenger and Challenger 2 Tanks, Mastiff Armoured Patrol Vehicle, Terrier Armoured Digger, and Oshkosh Heavy Trucks.

Hydraforce – HydraForce, from Illinois, opened its first U.K. factory in Birmingham in 1988. More recently it has built its new European Headquarters and hydraulic valves factory in Birmingham, creating hundreds of new jobs. The land was made available by Birmingham City Council, at one of its enterprise zones, created with the intention of boosting inward investment and job creation. Hydraforce exports 80% of its manufactured products from its West Midlands base.

UTC – Headquartered in Charlotte, N.C., UTC Aerospace Systems has approximately 150 sites operating in 26 countries, including six sites in the West Midlands. The company is the world’s largest suppliers of technologically advanced aerospace and defense products. They design, manufacture and service systems and components and provide integrated solutions for commercial, regional, business and military aircraft, helicopters and other platforms and are also a major supplier to international space programs.

Inanovate – Massachusetts-based Inanovate was formed as a spin out from the University of Birmingham, leveraging a unique technology developed at the University’s Nanoscale Physics Research Laboratory. The technology behind the company’s powerful cancer biomarker screening invention i-SlideTM was developed by researchers at the University of Birmingham.

Dawn Foods – Michigan-based Dawn Foods has its European manufacturing site and development center based in Evesham, Worcestershire. The company is a major supplier providing frozen ‘ready-to-serve’ American style specialties

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and bakery ingredients including cake mixes for donuts, brownies, and muffins. From the company’s Evesham site, Dawn Foods supplies the U.K. and continental Europe.

Key sectors across the Midlands LEPs include: Black Country • Supporting OEMs such as Jaguar Land Rover and home to an extensive network of Tier 1 and Tier 2 suppliers, the Black Country is at the technological heart of the U.K.’s automotive industry.

• Other specialties include advanced manufacturing/ engineering, aerospace, construction, food & drink, logistics, and chemicals.

Greater Birmingham & Solihull • Home to the headquarters of MG Motors UK, the region has a strong automotive cluster and developed local supply chain that drives innovation in collaboration with universities in Birmingham and the wider region.

• Other specialties include financial & business services (insurance/legal/fintech/BPO); creative (computer gaming), and ICT (software), life sciences and medical technologies.

Coventry & Warwickshire • Coventry and Warwickshire is internationally recognized as a major automotive design and engineering center, and is a key supplier of vehicle components and home to the global headquarters of Jaguar Land Rover and the Jaguar Land Rover Engineering Centre.

• Other specialties include aerospace, advanced manufacturing/engineering, creative & digital (gaming/ software development) and financial services.

Stoke-on-Trent & Staffordshire • With major strengths in the manufacture of advanced materials and ceramics, Stoke-on-Trent & Staffordshire has a rapidly growing sector specializing in technical ceramics and its uses in biotechnology, the nuclear industry, automotive, and aerospace.

• Other specialties include automotive, medical technologies, energy, and business services (BPO).

The Marches • Food and drink businesses have access to highquality produce, a well-established supply chain, and specialist logistics and preservation solutions. Harper Adams University College, home of the regional food academy, is just one of the centers of excellence supporting this well-developed sector.

• Other specialties include agri-tech, advanced manufacturing/engineering (polymers), and defense & security.

Worcestershire • Worcestershire has particular expertise in defense and cyber security. The area around Malvern together with surrounding locations, known as ‘Cyber Valley, has a high concentration of active and innovative cyber security companies ranging from QinetiQ and Lockheed Martin’s Information Systems.

• Other specialties include automotive (components), advanced manufacturing/engineering and food & drink.

Sources: www.localinvestuk.com, Surfacing the National Offer

U.K. REGIONS

Moog Inc. – Moog was founded in 1951 in East Aurora, NY, and is now a worldwide designer, manufacturer, and integrator of precision control components and systems. Moog’s high-performance systems control military and commercial aircraft, satellites and space vehicles, launch vehicles, missiles, automated industrial machinery, marine applications, and medical equipment. Moog has been established in the United Kingdom since the late 1960s. The Wolverhampton support center provides repair and overhaul services on select commercial aircraft parts to customers worldwide.

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East Midlands Greater Lincolnshire D2N2

East Midlands Leicester & Leicestershire

Northamptonshire

The East Midlands region comprises the six English counties of Derbyshire, Leicestershire, Lincolnshire, Nottinghamshire, Northamptonshire and Rutland (England’s smallest county).

For inward investment purposes the region’s six counties have formed four Local Enterprise Partnerships (LEPs) • Derby, Derbyshire, Nottingham, Nottinghamshire LEP (D2N2) • Leicester and Leicestershire LEP • Greater Lincolnshire LEP • Northamptonshire LEP

U.K. REGIONS

Additionally, there are three LEPs that overlap parts of the East Midlands: the Sheffield City Region LEP, the South East Midlands LEP (SEMLEP), and the Greater Cambridge and Greater Peterborough LEP. The East Midlands has a fast growing regional economy with 147,000 tax registered businesses in the East Midlands.

Manufacturing still accounts for 20.5% of output and 16.1% of employment. The region is home to the largest cluster of railway and aero engine companies in Europe including Rolls Royce, Bombardier, and Progress Rail (Caterpillar).

The region is accessible from the rest of the U.K. via the main rail and motorway networks (M1, M6 and the A14) and the port of Felixstowe. It also has rapid access to Europe, and is internationally connected through East and West Midlands airports.

KEY SECTORS, ASSETS AND CAPABILITIES ADVANCED ENGINEERING • D2N2 hosts the largest rail cluster in Europe and a major center for Transport Equipment Manufacturing.

• Leading companies include Raleigh, Toyota, Rolls Royce, Bombardier, Caterpillar, Park Air Systems, and Johnsons Controls.

• The Institute for Innovation in Sustainable Engineering (IiSE) further develops engineering and manufacturing expertise in the region. The Institute is supported by the University of Derby, Rolls Royce, Toyota, and Bombardier.

D2N2 also hosts the Centre for Innovation and Technology Exploitation at Nottingham Trent University. Working with business is second nature for these universities, whose client list includes such giants of industry as E.ON and Rolls-Royce.

• Leicestershire hosts the U.K.’s National Space Centre which, for over 50 years, has designed, engineered, and manufactured equipment in this sector. The University of Leicester and Loughborough University, both ranked in the top 10 in the U.K. have particular expertise in space research, biotechnology (genetics), electronics engineering, sports technology, automotive/aerospace engineering, and low carbon and fuel cell technologies. It hosts aerospace related companies like AETC. HIGH PERFORMANCE TECHNOLOGIES & MOTORSPORTS • Home to U.K. Formula 1 motorsports with Silverstone Park, Northamptonshire at the heart of the U.K.’s Motorsports Valley.

• There are over 1,000 High Performance Technology (HPT) companies in the county forming a comprehensive, world-leading industry supply chain and a U.K. center of excellence employing 21,000 people.

• Specialties include race engineering, low carbon vehicles, lightweight materials, and environmental technologies, including Cosworth on the Northamptonshire Enterprise Zone, 3M, Ilmor, Cummins, Ford, Oclaro, TRW Systems, and Bright Light Structures. It works closely with the surrounding counties which have an HPT interest, especially with Leicestershire which hosts the worldrenowned Motor Industry Research Association (MIRA) with its associated Enterprise Zone. MIRA has a strong focus on intelligent mobility and autonomous vehicles.

Headline statistics across the East Midlands Local Enterprise Partnership

Population (2014)

Working age population (2014)

NVQ4 and above (2014)

GVA, million (2014)

Businesses (local units) (2015)

D2N2

2,147,900

1,363,300

418,400

$61,254

81,720

Greater Lincolnshire

1,060,600

646,400

163,000

$28,676

44,530

Leicester & Leicestershire

1,005,600

644,700

209,100

$31,352

43,635

Northamptonshire

714,400

449,400

137,800

$22,746

34,365

Sources: Office for National Statistics via Nomis (Population Estimates, Annual Population Survey and Inter Departmental Business Register), ONS Regional GVA Note: Total LEP data may not exactly match data in region table due to rounding

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EAST MIDLANDS

Leicester, National Space Centre

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LIFE SCIENCES • Nottingham is home to world-renowned Alliance Boots and the University Hospital. The area is an active hub for new advances in medical science, boasting world-class institutions making this the ideal location for life science businesses.

• The University of Nottingham hosts the Centre for Biomolecular Science and Nottingham Trent University hosts the John Van Geest Cancer Research Centre.

Universities collaborate extensively with business, including AstraZeneca and Novartis. Companies based in the area include 3M and Alliance Boots, now owned by Walgreen, which together form a significant part of D2N2’s enterprise zone, which has now been extended to include Infinity Park in Derby. Chesapeake Pharma and Molecular profiles are just two of many life science companies located here.

LOGISTICS • The region benefits from connectivity across all modes of transport, with five international airports within an hour’s drive, easy access to the major road networks, efficient and fast passenger and freight rail links, and five major ports within 3 hours reach.

• The Centre of Vocational Excellence for Logistics is based at Daventry, forming part of the Chartered Institute of Logistics and Transport based in Corby.

ADVANCED MANUFACTURING, INCLUDING FOOD & DRINK • A major food providing region, Greater Lincolnshire delivers from “farm to fork” and from “trawler to table”.

Crop and food production is a significant part of the East Midland’s economy, with Lincolnshire having extensive arable land for fresh food and vegetable production.

• Lincolnshire houses the large port of Grimsby and a food cluster with one of the largest concentrations of food manufacturing, research, storage and distribution centers in Europe.

• Lincoln University is climbing the U.K. league table, and the National Centre for Food Manufacturing in Holbeach is recognized internationally as a center of excellence in the food production sector.

• Key food brands and manufacturers include Leicestershirebased Walkers Crisps, Benson Box, Graphic Packaging, Mars Petcare UK, Stilton Cheese & Melton Mowbray Pies, Worldwide Fruit, Coca Cola Enterprises, Weetabix, Carlsberg and Ruddles Brewery.

RENEWABLE ENERGY • Lincolnshire has a strong heritage in manufacturing and engineering combined with excellent natural assets – land, coastline, and the major port of Grimsby.

• Lincoln University has partnered with Siemens to create a purpose built School of Engineering and also hosts the Centre of Renewable Energy (CORE) in Grimsby.

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Key sectors across the East Midlands LEP regions include: D2N2 • Derby has largest rail cluster in Europe • Nottingham is home to BioCity, one of Europe’s largest bioscience incubator hubs • Advanced Manufacturing/Engineering Greater Lincolnshire • Farming, manufacturing and food processing are worth an estimated $1.5bn to the region’s economy • Logistics • Renewable Energy Leicester & Leicestershire • Leicestershire is perfectly positioned for the logistics industry, with East Midlands Airport, the 2nd largest freight handling airport in the U.K. • Creative Industries • Advanced Manufacturing/Engineering (Automotive and home to the National Space Centre) • Food & drink Northamptonshire • Leaders in High Performance Technologies (HPT) and home to Motorsport Valley • Logistics • Food & drink • Low carbon technologies

Sources: www.localinvestuk.com, Surfacing the National Offer

U.K. REGIONS

• A strong center for Agri-Tech in the heart of the U.K., the region provides a good base for food and drink logistics, where food miles and timely chilled fresh food delivery to supermarket hubs is an economic driver for these counties along the M1/A1 corridor from Northamptonshire to Lincolnshire.

• U.S. companies located in the region include Avery Dennison, XPO Logistics, and Neovia Logistics.

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HOW WE CAN HELP

BritishAmerican Business: The Company to Keep

As the leading transatlantic business organization dedicated to helping its member companies connect and build their international business, BritishAmerican Business is here to help you WHAT IS BAB? • Established in 2000, when we merged the American Chamber of Commerce in the U.K. and the BritishAmerican Chamber of Commerce in the U.S. to create a business organization that is uniquely positioned to serve its member companies on both sides of the Atlantic • Based in the two major western business/financial centers of London and New York, with networks extending to more than 60 other major U.S. and European business centers

WHO ARE BAB’S MEMBERS? The world’s leading multinationals and middle-market companies, including major U.S. and European players in: • • • • • • • • • • • • • •

Accountancy Aerospace/defense Airlines Banking Energy ICT Insurance Law Logistics Management/business consultancies Media Pharmaceuticals Real estate Telecoms

WHAT DOES BAB OFFER? Targeted, high-caliber networking and marketing platforms as well as top-quality business intelligence and regulatory advice and influence, including: • More than 100 high-quality events each year ranging from exclusive, C-Suite meetings with top corporate/government leaders to business briefings, professional and sectoral forums, and social/client entertainment occasions • High-quality marketing and brand-building platforms reaching a senior level audience of companies/executives involved in global or transatlantic business • High-level representation to government on policy issues of concern to our membership • A portfolio of targeted business services: ranging from business introductions and referrals to visa, business intelligence and event management services

HOW WE CAN HELP

BRITISHAMERICAN BUSINESS: THE COMPANY TO KEEP Website: www.babinc.org New York Office 52 Vanderblit Avenue 20th Floor New York NY 10017 Tel: +1 212-661-4060 Email: nyinfo@babinc.org Twitter: @BABNewYork

London Office 12 Phillimore Walk Kensington London, W8 7RX Tel: +44 (0) 207 290 9888 Email: ukinfo@babinc.org Twitter: @BABLondon

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BRITISHAMERICAN BUSINESS AT A GLANCE HONORARY PATRONS

Sir Kim Darroch, KCMG, CMG, Her Majesty’s Ambassador to the United States Matthew Barzun, U.S. Ambassador to the United Kingdom

CHAIRMAN INTERNATIONAL ADVISORY BOARD

Sir Martin Sorrell CEO, WPP Group

CHAIRMAN BOARD OF DIRECTORS

Nicholas C. Walsh, Senior Advisor, AIG

PRESIDENT

Christopher J. Perry President, Global Sales, Marketing and Client Solutions, Broadridge Financial Solutions

CHIEF EXECUTIVE

Jeffries Briginshaw

MANAGING DIRECTOR, NEW YORK

Wendy Mendenhall

TTIP: A TRADE & INVESTMENT OPPORTUNITY The Transatlantic Trade and Investment Partnership (TTIP) is a trade and investment agreement under negotiation between the United States and the European Union.

Launched at the G8 Summit in June 2013, TTIP has the goal to promote trade and investment, geared towards increasing jobs and growth on the two sides of the Atlantic. TTIP is the biggest, most ambitious trade agreement ever negotiated.

An Upgrade of the successful U.K.-U.S. Trade and Investment Relationship BritishAmerican Business (BAB), in close collaboration with the chapters of the British-American Business Council (BABC), plays a leadership role in promoting the trade deal in the U.K. and the U.S. With market access, rules, and regulatory cooperation at its heart, we advocate for an agreement that can be a visible upgrade to the existing successful U.K.-U.S. trade and investment relationship.

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An Opportunity for the Wider Transatlantic Business Community TTIP is an opportunity for the wider transatlantic business community. We are excited to work closely with national and regional governments in the U.K., U.S. and EU, including The Office of the United States Trade Representative (USTR), the U.S. Department of Commerce, the U.S. State Department, the Department for Business, Innovation & Skills (BIS), the Foreign & Commonwealth Office (FCO), U.S. and U.K. Embassies and Consulates, UK Trade & Investment (UKTI), as well as EU, national, and regional trade organizations. BAB represents its members and the chapters of the BABC at the ‘Business Alliance for TTIP (EU)’ and the ‘Business Coalition for Transatlantic Trade’ (U.S.).

Learn more BAB regularly provides updates on the negotiations through media, events, and individual outreach. For further news and insights on TTIP and our activities, visit our website at babinc.org, join our LinkedIn Group ‘Transatlantic Trade and Investment Partnership’ and follow us on Twitter @BABPolicy.

HOW WE CAN HELP

Simplifying Trade and Investment TTIP addresses the areas that affect companies on an everyday basis. A key element of our work is to illustrate the local, specific, and tangible benefits that TTIP can deliver to businesses, particularly small and medium-sized enterprises (SMEs). Since 2013, BAB has organized two local roadshow series in the U.K. to understand and promote those benefits, the latest one aimed to highlight the U.K.-U.S. trade and investment dimension and TTIP opportunity in leading U.K. industry sectors, including Chemical, Food & Drink, Life Sciences, and Automotive.

TTIP’s success will be measured by the way it can help companies to simplify their individual trade and investment.

Many companies – big and small – have shared with us their TTIP story to show what that means. You can find them in our TTIP publications and under the TTIP section on www.babinc.org/policy

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HOW WE CAN HELP

Using the BABC to Build your Transatlantic Business Jeffries Briginshaw, Chief Executive, BritishAmerican Business and the British-American Business Council (BABC), explains how the BABC helps companies develop their international business The British-American Business Council (BABC) is the largest transatlantic business network. We have chapters throughout North America and the U.K., with a collective total of 2,500 member companies based in more than 20 major business centers.

Our goal is to help these companies build their business by providing access to a transatlantic business network that extends far beyond their own home cities, with a portfolio of services to match.

Our offering is geared to help middle-market and smaller companies as well as major multinationals.

If you are a U.S. company looking to establish or expand your business in the U.K., we have a regional chapter ready to help you.

The same applies in reverse, if you are a U.K. company looking to build your business in the U.S. As well as knowing their regional marketplace, BABC chapters all have member companies who want to do business with companies like yours.

If you are a member of any of our chapters, you can connect with these companies through our umbrella website, www.babc.org, by participating in the programs of other BABC chapters when you are traveling, and by joining us at our annual Transatlantic Business Conferences.

The BABC network also offers other business, advocacy, and marketing opportunities to promote your services and products to our members throughout North America and the U.K., to facilitate immigration issues, to capitalize on modestly-priced advertising and sponsorship opportunities, and to take advantage of the discounts that our member companies offer to their fellow-members.

Our role is simple – we help companies make connections and do business.

If you are (or plan to become) involved in transatlantic business and do not already know about the BABC, do contact your regional BABC chapter to find out what they and the broader BABC network can offer you.

For further information about the BABC, and to identify your local chapter please check the following pages or visit us at:

HOW WE CAN HELP

Website: www.babc.org

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HOW WE CAN HELP

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British-American Business Council Chapters ATLANTA, GEORGIA

British-American Business Council, Georgia 1395 East Cobb Drive #72721 Marietta, GA 30007 Tel: +1 404-681-2224 Email: admin@babcga.org Website: babcga.org Director of Admin: Lindsay McCabe President: James Anthony

BOSTON, MASSACHUSETTS

British-American Business Council of New England, Inc. Lewis Wharf, Suite 523 28 Atlantic Avenue Boston, MA 02110 Tel: +1 617-720-3622 Email: business@babcne.org Website: www.babcne.org Twitter: @BABCNE Executive Director: Urszula Wojciechowska President: Kenneth Vacovec

HOUSTON, TEXAS

British-American Business Council, Houston PO Box 421234 Houston TX 77242-1234 Tel: +1 832-351-3940 Email: info@babchouston.org Website: www.babchouston.org Twitter: @BABChouston Executive Director: Becci Himes President: Derek Blackwood Email: president@babchouston.org

LOS ANGELES, CALIFORNIA

SAN FRANCISCO, CALIFORNIA British-American Business Council of Northern California 369 Pine Street, Suite 103 San Francisco, CA 94104 Tel: +1 415-296-8645 Website: www.babcsf.org Email: info@babcsf.org Twitter: @babcsf Executive Director: Jo Healey President: Nicholas Unkovic Email: nicholas.unkovic@squirepb.com

British-American Business Council of Los Angeles c/o KETK 15303 Ventura Blvd, Suite 1040 Sherman Oaks, CA 91403 Tel: +1 310-312-1962 Email: info@babcla.org Website: www.babcla.org Twitter: @BABCLA President: Sarah Robarts

SEATTLE, WASHINGTON

MIAMI, FLORIDA

TAMPA, FLORIDA

British-American Business Council, Chicago 200 West Superior Street, Suite 410 Chicago, IL 60654 Tel: +1 312-880-1040 Email: admin@babcc.org Website: www.babcc.org Website: www.britview.com Twitter: @BABCC President: Tom Stevens Email: stevens@stevens-law.com

NEW YORK CITY

TRIANGLE, NORTH CAROLINA

CLEVELAND, OHIO

ORANGE COUNTY, CALIFORNIA

CHARLOTTE, NORTH CAROLINA British-American Business Council of North Carolina, Inc PO Box 480661 Charlotte, NC 28269 Tel: +1 704-968-3166 Email: speeler@babcnc.com Website: www.babcnc.com Executive Director: Sarah Peeler President: Suzanne Morrison

CHICAGO, ILLINOIS

British-American Chamber of Commerce, Ohio Region PO Box 360707 Strongsville, OH 44136 Tel: +1 216-621-0222 Email: info@baccohio.org Website: www.baccohio.org Twitter: @BACCOhio Executive Director: Trisha Allen President: Robert Whittall Email: rob.whittall@dykeyaxley.com

DETROIT, MICHIGAN

tradeinvest.babinc.org

BritishAmerican Business 52 Vanderbilt Avenue, 20th Floor New York, NY 10017 Tel: +1 212-661-4060 Email: info@babinc.org Website: www.babinc.org Twitter: @BABNewYork Managing Director: Wendy Mendenhall President: Christopher J. Perry

British-American Business Council, Tampa Bay Region PO Box 3447 Tampa, FL 33601-3447 Tel: +1 813-259-9590 Email: inforequest@babctampabay.org Website: www.babctampabay.org Chair: Grant D. Petersen Email: grant.petersen@ogletreedeakins.com Triangle NC British-American Business Council 3331 Heritage Trade Drive Wake Forest, NC 27587 Tel: +1 252-299-0195 Email: admin@trianglebabcnc.org Website: www.trianglebabcnc.org Twitter: @triangleBABCNC Administrator: Evelyn Williams-Bustos President: Stephen Cain Email: scain@trianglebabcnc.org

British-American Business Council of Orange County 25422 Trabuco Road, Suite 105-266 Lake Forest, CA 92630 Tel: +1 949-472-2221 Email: valerie@babcoc.org Website: www.babcoc.com Twitter: @BABCOC Executive Director: Valerie Blackholly President: Joey Benadretti Email: Joey.Benadretti@us.syspro.com

WASHINGTON DC

PHILADELPHIA, PENNSYLVANIA

CANADA

British-American Business Council of Philadelphia 200 South Broad Street, Suite 700 Philadelphia, PA 19102 Tel: +1 215-790-3686 Email: babc@greaterphilachamber.com Website: www.babcphiladelphia.com Twitter: @BABC_PHL Executive Director: Jane Rosenberg President: Rhett Workman

British American Business Association of Washington DC PO Box 16482 Washington, DC 20041 Tel: +1 202-293-0010 Email: info@babawashington.org Website: www.babawashington.org Twitter: @BABADC Executive Director: Patricia Karhuse, MBE President: Eamonn Cooney British Canadian Chamber of Trade and Commerce 1411-215 Fort York Blvd.

Toronto, ON M5V 4A2 Tel: +1 416-816-9154 Email: info@bcctc.ca Website: www.bcctc.ca Twitter: @bcctc Executive Director: Idalia Obregon Email: idalia@bcctc.ca President: Dean Smith

HOW WE CAN HELP

British-American Business Council of Michigan c/o Butzel Long 150 W. Jefferson Ave, Suite 100 Detroit, MI 48226 Tel: +1 248-825-7075 Email: babc.michigan@gmail.com Website: www.babcmichigan.org Twitter: @babc_michigan Executive Director: Helen French President: Martin French Email: martin.french@webasto.com

British American Business Council, Miami 333 SE 2nd Avenue Suite 3200 Miami, Florida 33131 Tel: +1 305-393-5230 Email: mail@babcmiami.com Website: babcmiami.com President: Alan Georgeson Email: president@babcmiami.com

British American Business Council of the Pacific Northwest PO Box 2677 Seattle, WA 98111 Tel: +1 206-769-7194 Email: membership@babcpnw.org Website: www.babcpnw.org Twitter: @babcpnw Executive Director: Catherine Filippini

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BACC

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BAB

– BritishAmerican Business

tradeinvest.babinc.org

HOW WE CAN HELP

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tradeinvest.babinc.org

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HOW WE CAN HELP

BABC Miami British Consulate-General UK Trade & Investment

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HOW WE CAN HELP

British-American Business Councils in the U.K. 1

BIRMINGHAM British American Business Council Midlands 75 Harborne Road Edgbaston Birmingham, B15 3DH Tel: +44 (0) 121 607 1938 Email: info@babcmidlands.org.uk Website: www.babcmidlands.com Twitter: @BABCMidlands Manager: Helen Melville Email: h.melville@birmingham-chamber.com Chair: Harry Reilly

2

LONDON BritishAmerican Business 12 Phillimore Walk London, W8 7RX

4

Tel: +44 (0) 207 290 9888 Email: ukinfo@babinc.org Website: www.babinc.org Twitter: @BABLondon CEO: Jeffries Briginshaw Chair: Nicholas Walsh 3

MANCHESTER British American Business Council in the North West North West International Trade Centre 1st floor, Churchgate House 56 Oxford Street Manchester, M60 7HJ Tel: +44 (0) 161 237 4197 Email: info@babcnw.co.uk Website: www.babcnw.co.uk Twitter: @BABC_NW Executive Director: Lynn Shaw President: Richard Northcote

HOW WE CAN HELP

4

3

1

2

SCOTLAND Scottish North American Business Council 7 St Ann’s Drive Giffnock Glasgow, G46 6JS Tel: +44 (0) 798 225 0682 Email: allan@snabc.org Website: www.snabc.org Executive Director: Allan Hogarth Chair: Iain McMillan

tradeinvest.babinc.org

HOW WE CAN HELP

103

Organization Index Business Information Services Chatham House

By post

Innovate UK

Chatham House engages governments, the private sector, civil society, and its members in open debate and confidential discussion on the most significant developments in international affairs. It carries out independent and rigorous analysis of critical global, regional and country-specific challenges and opportunities. It consistently ranks highly in the University of Pennsylvania’s annual Global Go To Think Tank Index, where it has been assessed by its peers as the #1 think tank outside the U.S. for seven consecutive years and #2 worldwide for the past four years.

England and Wales Companies House Crown Way Cardiff, CF14 3UZ

Innovate UK works to:

The Royal Institute of International Affairs Chatham House 10 St. James’s Square London, SW1Y 4LE United Kingdom Tel: +44 (0) 207 957 5700 Email: contact@chathamhouse.org Website: www.chathamhouse.org

Company Registration – Companies House Companies House is an executive agency, sponsored by the Department for Business, Innovation & Skills. Its main functions are: • incorporate and dissolve limited companies • registers the information companies are legally required to supply • make this information available to the public Contact Center Tel: +44 (0) 303 123 4500 Email: enquiries@companies-house. gov.uk Website: www.gov.uk/companieshouse

Scotland Companies House 4th Floor Edinburgh Quay 2 139 Fountainbridge Edinburgh, EH3 9FF Northern Ireland Companies House Second Floor The Linenhall 32-38 Linenhall Street Belfast, BT2 8BG London office and information center 4 Abbey Orchard Street London, SW1P 2HT United Kingdom

Intellectual Property Office The official U.K. government body responsible for intellectual property rights including patents, designs, trade marks, and copyright. IPO is an executive agency, sponsored by the Department for Business, Innovation & Skills Information Center Tel: +44 (0) 163 381 4000 Email: enquiries@ipo.gov.uk Website: www.gov.uk/ipo By post Concept House Cardiff Road Newport South Wales NP10 8QQ United Kingdom

• turn scientific excellence into economic impact • accelerate growth by nurturing high-growth-potential SMEs in key sectors notably, emerging and enabling technologies; health and life sciences; infrastructure systems, and manufacturing and materials • build on innovation excellence throughout the U.K. • develop Catapult centers • evolve funding models North Star House North Star Avenue Swindon SN2 1UE United Kingdom Tel: +44 (0) 179 336 1000 Email: support@innovateuk.org Website: www.gov.uk/innovate-uk

The Catapult Program The Catapults network has been established by Innovate UK, designed to transform the U.K.’s capability for innovation in specific areas and help drive future economic growth.

Innovate UK B1 North Star House North Star Avenue Swindon, SN2 1JF United Kingdom Tel: +44 (0) 179 344 2700 Email: catapult@innovateuk.gov.uk Website: www.catapult.org.uk Twitter: @Catapult_UK

HOW WE CAN HELP

tradeinvest.babinc.org

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HOW WE CAN HELP

Organization Index Business Information Services (continued) The Catapults comprise: The Cell and Gene Therapy Catapult Established in 2012 as a center of excellence in innovation, with the core purpose of building a world-leading cell and gene therapy industry in the U.K. 12th Floor Tower Wing Guy’s Hospital Great Maze Pond London, SE1 9RT United Kingdom

The Oracle Building Blythe Valley Business Park Shirley Solihull, B90 8AD United Kingdom Tel: +44 (0) 121 506 9780 Email: info@hvm.catapult.org.uk

Tel: +44 (0) 203 728 9500 Email: info@ct.catapult.org.uk

Website: hvm.catapult.org.uk Twitter: @HVMCatapult

Website: ct.catapult.org.uk Twitter: @CTCatapult

Offshore Renewable Energy Catapult The U.K.’s flagship technology innovation and research center for offshore wind, wave, and tidal energy.

Digital Catapult Developing breakthroughs for the U.K.’s data sharing movement.

101 Euston Road London, NW1 2RA United Kingdom Tel: +44 (0) 300 123 3101 Email: info@digicatapult.org.uk Website: www.digitalcatapultcentre. org.uk Twitter: @DigiCatapult Energy Systems Catapult A critical mass for business and research innovation, focusing on electricity, heat, and combustible gases.

6220 Bishops Court Birmingham Business Park Birmingham, B37 7YB United Kingdom Tel: +44 (0) 121 203 3700 Email: info@es.catapult.org.uk Website: es.catapult.org.uk Future Cities Catapult Accelerating urban ideas to market, to grow the economy and make cities better.

HOW WE CAN HELP

High Value Manufacturing Catapult The catalyst for the future growth and success of advanced manufacturing in the U.K.

The Urban Innovation Centre One Sekforde Street London, EC1R 0BE United Kingdom Tel: +44 (0) 207 859 4563 Email: info@futurecities.catapult.org.uk Website: futurecities.catapult.org.uk Twitter: @FutureCitiesCat

Inovo 121 George Street Glasgow, G1 1RD United Kingdom Tel: +44 (0) 333 004 1400 Email: info@ore.catapult.org.uk Website: ore.catapult.org.uk Twitter: @ORECatapult Precision Medicine Catapult Focused on making the U.K. the most compelling location in the world for the development and delivery of precision medicine.

Satellite Applications Catapult An independent innovation and technology company, created to foster growth across the economy through the exploitation of space.

Electron Building Fermi Avenue Harwell Campus Didcot Oxfordshire, OX11 0QR United Kingdom Tel: +44 (0) 123 556 7999 Email: info@sa.catapult.org.uk Website: sa.catapult.org.uk Twitter: @SatappsCatapult Transport Systems Catapult Created to drive and promote Intelligent Mobility – using new and emerging technologies to transport people and goods more smartly and efficiently.

3rd Floor The Pinnacle 170 Midsummer Boulevard Milton Keynes, MK9 1BP United Kingdom Tel: +44 (0) 190 835 9999 Email: transportsystems@catapult. org.uk Website: ts.catapult.org.uk Twitter: @TSCatapult

12 Hay Hill London, W1J 8NR United Kingdom

Forthcoming Catapult centers Compound Semiconductor Applications Catapult Medicines Discovery Catapult

Tel: +44 (0) 207 952 5201 Email: communications@pm.catapult. org.uk

Agri-Tech

Website: pm.catapult.org.uk Twitter: @PMCatapult

Biotechnology and Biological Sciences Research Council (BBSRC) One of seven Research Councils working together as Research Councils UK and funded by the Government’s Department for Business, Innovation and Skills.

Polaris House North Star Avenue Swindon, SN2 1UH United Kingdom Tel: +44 (0) 179 341 3200 Website: www.bbsrc.ac.uk Website: gtr.rcuk.ac.uk

tradeinvest.babinc.org

HOW WE CAN HELP

105

Organization Index Trade and membership organizations BritishAmerican Business

ACCOUNTANCY

AIRPORTS

BritishAmerican Business (BAB) is the leading transatlantic business organization. It was formed out of the merger of the American Chamber of Commerce U.K. and the British American Chamber of Commerce New York, and is dedicated to helping companies connect and build their business on both sides of the Atlantic.

BAB is the publisher of British American Trade & Investment

Institute of Chartered Accountants in England & Wales (ICAEW)

Airport Operators Association (AOA)

London 12 Phillimore Walk London, W8 7RX United Kingdom

PO Box 433 Moorgate Place London, EC2R 6EA United Kingdom

Tel: +44 (0) 207 799 3171 Email: info@aoa.org.uk

Tel: +44 (0) 207 290 9888 Email: ukinfo@babinc.org

Tel: +44 (0) 207 920 8100 Email: generalenquiries@icaew.com

AUTOMOTIVE

New York 52 Vanderbilt Avenue, 20th Floor New York, NY 10017

Website: www.icaew.com

Society of Motor Manufacturers and Traders (SMMT)

Tel: +1 212-661-4060 Email: nyinfo@babinc.org Website: www.babinc.org

Confederation of British Industry (CBI) The U.K.’s premier business lobbying organization, helping to keep business interests at the heart of policy in Westminster, the devolved administrations, across the U.K. regions and internationally (with offices in Washington, Brussels, Beijing, and Delhi) CBI London Cannon Place 78 Cannon Street London, EC4N 6HN United Kingdom Tel: +44 (0) 207 379 7400 Email: enquiries@cbi.org.uk

Tel: +1 202-530-0510 Email: usa@cbi.org.uk Website: www.cbi.org.uk

tradeinvest.babinc.org

AEROSPACE ADS Group The trade organization advancing the U.K. Aerospace, Defense, Security, and Space industries. Farnborough International Limited (FIL), which runs the Farnborough International Airshow, is a wholly-owned subsidiary ADS Group Limited Head Office Salamanca Square 9 Albert Embankment London, SE1 7SP United Kingdom

A trade association representing the interests of U.K. airports, engaging with government and regulatory authorities on airport matters 3 Birdcage Walk London SW1H 9JJ United Kingdom

Website: www.aoa.org.uk

SMMT supports and promotes the interests of the U.K. automotive industry at home and abroad 71 Great Peter Street London, SW1P 2BN United Kingdom Tel: +44 (0) 207 235 7000 Email: membership@smmt.co.uk Website: www.smmt.co.uk

Tel: +44 (0) 207 091 4500 Email: enquiries@adsgroup.org.uk Website: www.adsgroup.org.uk Farnborough Show Centre ETPS Road Farnborough Aerodrome Farnborough Hampshire, GU14 6FD United Kingdom Tel: +44 (0) 207 091 4500

HOW WE CAN HELP

CBI Washington 1110 Vermont Ave, NW Suite 1200 Washington, DC 20005

ICAEW is a world leading professional membership organization that promotes, develops, and supports over 144,000 chartered accountants worldwide, providing qualifications, professional development, insight, and technical expertise

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Organization Index Trade and membership organizations (continued) CREATIVE INDUSTRIES

EDUCATION

Nuclear Energy

Creative England

Association of MBAs (AMBA)

Creative England invests in and supports creative ideas, talent and businesses in film, TV, games, and digital media.

The international impartial authority on postgraduate business education whose accreditation service is the global standard for all MBA, DBA and MBM programs

Nuclear Industry Association (NIA)

1st Floor College House 32-36 College Green Bristol, BS1 5SP United Kingdom

25 Hosier Lane London, EC1A 9LQ United Kingdom

Tel: +44 (0) 117 952 9973 Email: info@creativeengland.co.uk

Tel: +44 (0) 207 246 2686 Email: info@mbaworld.com

Website: www.creativeengland.co.uk

Website: www.mbaworld.com

British Fashion Council

Universities UK

The British Fashion Council is committed to developing excellence and growth in a sector that is a significant contributor to the British economy. We nurture, support and promote British fashion talent to a global market.

The representative organization for the U.K.’s universities

Somerset House South Wing Strand London, WC2R 1LA United Kingdom Tel: +44 (0) 207 759 1999 Email: info@britishfashioncouncil.com Website: www.britishfashioncouncil.co.uk

Woburn House 20 Tavistock Square London, WC1H 9HQ United Kingdom

5th Floor Tower House 10 Southampton Street London, WC2E 7HA United Kingdom Tel: +44 (0) 207 766 6640 Email: info@niauk.org Website: www.niauk.org

Renewable Energy RenewableUK RenewableUK is the trade and professional body for the U.K. wind and marine renewable energy industries

Website: www.universitiesuk.ac.uk

Greencoat House Francis Street London, SW1P 1DH United Kingdom

ENERGY

Tel: +44 (0) 207 901 3000 Email: info@RenewableUK.com

Energy Institute

Website: www.renewableuk.com

Tel: +44 (0) 207 419 4111 Email: info@UniversitiesUK.ac.uk

The professional body for the energy industry, developing and sharing knowledge, skills and good practice towards a safe, secure and sustainable energy system.

61 New Cavendish Street London, W1G 7AR United Kingdom Tel: +44 (0) 207 467 7100 Email: info@energyinst.org Website: www.energyinst.org

HOW WE CAN HELP

The NIA represents the U.K. civil nuclear industry in the development of its business both at home and overseas

Renewable Energy Association Trade association representing U.K. renewable energy producers and helping companies build commercially and environmentally sustainable businesses 2nd Floor 25 Eccleston Place London, SW1W 9NF United Kingdom Tel: +44 (0) 207 925 3570 Email: info@r-e-a.net Website: www.r-e-a.net

tradeinvest.babinc.org

HOW WE CAN HELP

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Organization Index

British Photovoltaic Association The BPVA is the national trade association of the U.K. solar photovoltaic industry 2nd Floor, Berkeley Square House Berkeley Square London, W1J 6BD United Kingdom Tel: +44 (0) 178 883 3653 Email: info@bpva.org.uk Website: bpva.org.uk

IT AND COMMUNICATIONS BCS, The Chartered Institute for IT BCS promotes wider social and economic progress through the advancement of information technology and champions the global IT profession and the interests of individuals engaged in the profession for the benefit of all First Floor, Block D North Star House North Star Avenue Swindon Wiltshire, SN2 1FA United Kingdom Tel: +44 (0) 179 341 7424 Website: www.bcs.org

techUK

LOGISTICS

Membership organization aiming to ensure that the U.K. is the best place in the world for technology companies (both domestic and foreign owned) to locate and grow

British International Freight Association – BIFA

10 St. Bride Street London, EC4A 4AD United Kingdom Tel: +44 (0) 207 331 2000 Email: info@techuk.org Website: www.techuk.org

LIFE SCIENCES BioIndustry Association (BIA) The trade association for innovative enterprises involved in U.K. bioscience 7th Floor, Southside 105 Victoria Street London, SW1E 6QT United Kingdom Tel: +44 (0) 207 630 2180 Email: admin@bioindustry.org Website: www.bioindustry.org

Association of the British Pharmaceutical Industry (ABPI)

Trade association for U.K.-registered companies engaged in international movement of freight by all modes of transport, air, road, rail, and sea Redfern House Browells Lane Feltham, Middlesex TW13 7EP United Kingdom Tel: +44 (0) 208 844 2266 Email: bifa@bifa.org Website: www.bifa.org

Freight Transport Association (FTA) One of the U.K.’s largest trade associations representing the transport interests of companies moving goods Hermes House St John’s Road Tunbridge Wells, Kent, TN4 9UZ United Kingdom Tel: +44 (0) 189 252 6171 Website: www.fta.co.uk Twitter: @newsfromfta

The trade association for the researchbased U.K. biopharmaceutical industry, recognized by the U.K. government as the industry body negotiating on behalf of the branded pharmaceutical industry for statutory consultation requirements including the pricing scheme for medicines in the U.K. 7th floor, Southside 105 Victoria Street London, SW1E 6QT United Kingdom

Website: www.abpi.org.uk

tradeinvest.babinc.org

HOW WE CAN HELP

Tel: +44 (0) 207 930 3477 Email: info@abpi.org.uk

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Organization Index Trade and membership organizations (continued) LOW CARBON

MANUFACTURING

RECRUITMENT

Low Carbon Vehicle Partnership (LowCvP)

EEF, the manufacturers’ organization

Association of Executive Search Consultants (AESC)

LowCVP is aiming to accelerate a sustainable shift to low carbon vehicles and fuels in the U.K. and thereby stimulate opportunities for U.K. businesses

Supports and champions manufacturing and engineering in the U.K. and the E.U. to help industry thrive, innovate, and compete locally and globally

The professional body representing retained executive search consulting firms around the world 425 Fifth Avenue 4th Floor New York, NY 10016

3 Birdcage Walk London, SW1H 9JJ United Kingdom

Broadway House Tothill Street London, SW1H 9NQ United Kingdom

Tel: +44 (0) 207 304 6880 Email: secretariat@lowcvp.org.uk

Tel: +44 (0) 207 222 7777 Email: enquiries@eef.org.uk

Website: www.lowcvp.org.uk

Website: www.eef.org.uk

RELOCATION

The Carbon Trust

PORTS

An independent, expert partner of leading organizations around the world, helping them contribute to and benefit from a more sustainable future through carbon reduction, resource efficiency strategies and commercializing low carbon technologies

British Ports Association

European Relocation Association (EuRA)

4th Floor Dorset House 27-45 Stamford Street London, SE1 9NT United Kingdom Tel: +44 (0) 207 170 7000 Email: info@carbontrust.com Email (U.S.): usa@carbontrust.com

Represents the interests of its members, to the U.K. and devolved Governments, the E.U. and national and international bodies 1st Floor, 30 Park Street, London, SE1 9EQ United Kingdom Tel: +44 (0) 207 260 1780 Email: info@britishports.org.uk Website: www.britishports.org.uk

Tel: +1 212-398-9556 Email: aesc@aesc.org Website: www.aesc.org

Promoters of the benefits of professionally managed relocation and mobility services to companies with a globally mobile labor force 9 & 10 Diss Business Centre Diss Norfolk, IP21 4HD United Kingdom Tel: +44 (0) 137 964 0883 Email: enquiries@eura-relocation.com Website: www.eura-relocation.com

HOW WE CAN HELP

Website: www.carbontrust.com

tradeinvest.babinc.org

HOW WE CAN HELP

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Organization Index Inward Investment SCIENCE PARKS and TECHNOLOGY TRANSFER PraxisUnico The most influential U.K.-based professional body for research commercialization and knowledge/ technology transfer professionals Jeffreys Building St John’s Innovation Park Cowley Road Cambridge, CB4 0DS United Kingdom Tel: +44 (0) 122 365 9950 Email: info@praxisunico.org.uk Website: www.praxisunico.org.uk

United Kingdom Science Park Association (UKSPA)

Membership association with the mission to be the authoritative body on the planning, development and creation of Science Parks Chesterford Research Park Little Chesterford Saffron Walden Essex CB10 1XL United Kingdom Tel: +44 (0) 179 953 2050 Email: info@ukspa.org.uk Website: www.ukspa.org.uk

SECURITY British Security Industry Association (BSIA) The trade association for the professional security industry in the U.K. Its members are responsible for over 70% of privately provided U.K. security products and services (by value) and adhere to strict quality standards

Tel: +44 (0) 845 389 3889 Email: info@bsia.co.uk Website: www.bsia.co.uk

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UKTI is the Government Department that helps overseas companies to bring their high-quality investment to the U.K., as well as assisting U.K. companies to succeed in a global economy 1 Victoria Street London SW1H 0ET United Kingdom Tel: +44 (0) 207 215 8000 Email: enquiries@ukti.gsi.gov.uk Website: www.gov.uk/ukti UKTI Investment Services Team Overseas companies can contact the UKTI Investment Services Team for information about setting up in the U.K. including the help that is available Tel: +44 (0) 207 333 5442 Email: enquiries@ukti-invest.com U.S. locations

Los Angeles British Consulate General 2029 Century Park East Suite 1350 Los Angeles, CA 90067 Tel: +1 310-481-0031 Miami British Consulate General 1001 Brickell Bay Drive Miami, FL 33131 Tel: +1 305-400-6400 New York British Consulate General 845 Third Avenue New York, NY 10022 Tel: +1 212-745-0200 San Francisco British Consulate General 1 Sansome Street Suite 850 San Francisco, CA 94104

Atlanta British Consulate General Georgia Pacific Center Suite 3400 133 Peachtree Street, NE Atlanta, GA 30303

Tel: +1 415-617-1300

Tel: +1 404-954-7700

Tel: +1 202-588-6500

Boston British Consulate General One Broadway Cambridge, MA 02142

Department for Communities & Local Government (DCLG)

Tel: +1 617-245-4500 Chicago British Consulate General 625 N Michigan Avenue Suite 2200 Chicago, IL 60611 Tel: +1 312-970-3800 Houston British Consulate General Wells Fargo Plaza 1000 Louisiana Street Suite 1900 Houston, TX 77002 Tel: +1 713-659-6270

Washington DC British Embassy 3100 Massachusetts Avenue NW Washington DC 20008

The Government Department charged with putting power in the hands of local people, business and councillors with local leaders and business driving economic growth in their areas through Local Enterprise Partnerships 2 Marsham Street London, SW1P 4DF United Kingdom Tel: +44 (0) 303 444 0000 Email: c ontactus@communities.gsi. gov.uk Website: www.gov.uk/dclg

HOW WE CAN HELP

Kirkham House John Comyn Drive Worcester, WR3 7NS United Kingdom

UK Trade & Investment (UKTI)

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HOW WE CAN HELP

Organization Index Inward Investment (continued) Devolved Economic Development Agencies Northern Ireland

Scotland

Wales

Invest Northern Ireland

Scottish Development International

Welsh Government

The regional business development agency whose role is to support new and existing businesses to compete internationally, and to attract new investment to Northern Ireland

SDI’s aim is to assist in the growth of the Scottish economy, by encouraging inward investment and helping Scottishbased companies develop international trade

Committed to helping companies to prosper in Wales, and encourages strong, innovative and competitive business

Bedford Square Bedford Street Belfast, BT2 7ES United Kingdom

5 Atlantic Quay 150 Broomielaw Glasgow, G2 8LU United Kingdom

Tel: +44 (0) 289 069 8000 Email: eo@investni.com

Tel: +44 (0) 141 228 2828 Email: investment@scotent.co.uk

Website: www.investni.com

Website: www.sdi.co.uk

Boston (U.S. HQ) 545 Boylston Street Suite 801 Boston, MA 02116

London office

Tel: +1 617-266-8839 Email: boston@investni.com Chicago Tel: +1 312-955-0058 Email: chicago@investni.com New York Wall Street Plaza 20th Floor 88 Pine Street New York, NY 10005 Tel: +1 212-742-9823 Email: newyork@investni.com San Francisco 44 Montgomery Street Suite 3050 San Francisco, CA 94104 T: +1 415-854-0332 Email: SF@investni.com

Tel: +44 (0) 207 222 0599 Boston One Boston Place Suite 3875 Boston, MA 02108 Tel: +1 617-725-0340 Chicago 645 N. Michigan Avenue Suite 435 Chicago, IL 60611 Tel: +1 312-777-5980 Houston 10375 Richmond Avenue Suite 1300 Houston, TX 77042 Tel: +1 713-461-2289 New York 845 Third Avenue 10th Floor New York, NY 10022

HOW WE CAN HELP

Tel: +1 617-725-0340 San Jose Silicon Valley Center 2570 North 1st Street Suite 440 San Jose, CA 95131 Tel: +1 408-436-5520

Cathays Park Cardiff, CF10 3NQ Tel: +44 (0) 300 060 3000 Website: w ww.justask.wales.com wales.gov.uk Washington D.C. (Head Office) Welsh Government British Embassy 3100 Massachusetts Avenue NW Washington, DC 20008 Tel: +1 202-588-6623 Email: dan.cecchin@wales-uk.com Atlanta Welsh Government British Consulate-General 133 Peachtree Street, NE Suite 3400 Atlanta, GA 30303 Tel: +1 404-954-7741 Email: erica.stevens@wales-uk.com Chicago Welsh Government British Consulate-General 625 N. Michigan Avenue, Suite 2200 Chicago, IL 60611 Tel: +1 312-970-3802 Email: simon.heydon@wales-uk.com New York British Consulate-General 845 Third Avenue New York, NY 10022 Tel: +1 212-745 0415 Email: Efe.Sokol@wales-uk.com San Francisco British Consulate-General 1 Sansome Street, Suite 850 San Francisco, CA 94104 Tel: +1 415-617-1355 Email: jill.scott@wales-uk.com

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Organization Index Education

Legal

Department for Education

Northern Ireland

The government department responsible for education and children’s services

U.S. Consulate General, Belfast Danesfort House 223 Stranmillis Road Belfast, BT9 5GR United Kingdom

Piccadilly Gate Store Street Manchester, M1 2WD United Kingdom

Tel: +44 (0) 289 038 6100

Tel: +44 (0) 370 000 2288

Website: belfast.usconsulate.gov

Website: www.education.gov.uk

Scotland

Embassies and Consulates Foreign & Commonwealth Office (FCO)

U.S. Consulate General, Edinburgh 3 Regent Terrace Edinburgh, EH7 5BW United Kingdom Tel: +44 (0) 131 556 8315 Email: edinburgh-info@state.gov

The Law Society of England and Wales The Law Society represents lawyers in England and Wales. From negotiating with and lobbying the profession’s regulators, government and others, to offering training and advice, the Society helps, protects and promotes lawyers across England and Wales The Law Society’s Hall 113 Chancery Lane London, WC2A 1PL United Kingdom Tel: +44 (0) 207 242 1222 Website: www.lawsociety.org.uk

The FCO is the government department responsible for promoting British interests overseas

Wales

Regional offices – The Law Society operates regional support throughout England and Wales

Tel (Cardiff): +44 (0) 292 002 6419 Tel (London): +44 (0) 207 499 9000

Tel: +44 (0) 292 064 3394 Email: regionalsupport@lawsociety.org.uk

King Charles Street London, SW1A 2AH United Kingdom

Website: cardiff.usvpp.gov

Tel: +44 (0) 207 008 1500 Email: fcocorrespondence@fco.gov.uk

Website: edinburgh.usconsulate.gov

Immigration and Internal Affairs

Capital Tower Greyfriars Road Cardiff, CF10 3AG United Kingdom

Home Office

Tel: +44 (0) 292 064 5254 Email: wales@lawsociety.org.uk

The Home Office is the lead government department for immigration and passports, drugs policy, crime, counterterrorism, and police

The Law Society of Northern Ireland

Website: www.gov.uk/fco

Embassy of the United States The U.S. Commercial Service UK (CSUK) at the U.S. Embassy in London promotes exports of U.S. goods and/or services into the U.K. market and inward investment into the U.S. They provide a range of services and programs to help American companies export goods and services to the United Kingdom The American Citizen Services (ACS) Section of the Embassy provides information and assistance to U.S. citizens in England and Wales

Tel: +44 (0) 207 499 9000 Website: www.export.gov/unitedkingdom london.usembassy.gov

Direct Communications Unit 2 Marsham Street London, SW1P 4DF United Kingdom

96 Victoria Street, Belfast, BT1 3GN United Kingdom Tel: +44 (0) 289 023 1614

Tel: +44 (0) 207 035 4848 Email: public.enquiries@homeoffice.gsi. gov.uk

Website: www.lawsoc-ni.org

Website: www.gov.uk/home-office

26 Drumsheugh Gardens Edinburgh, EH3 7YR

The Law Society of Scotland

Moving late 2015 to: Atria One 144 Morrison Street Edinburgh, EH3 8BE United Kingdom Tel: +44 (0) 131 226 7411 Email: lawscot@lawscot.org.uk Website: www.lawscot.org.uk

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HOW WE CAN HELP

24 Grosvenor Square London, W1K 6AH United Kingdom

Law Society Office in Wales

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Organization Index Public Sector www.gov.uk The best place to find U.K. government services and information

Department for Business, Innovation and Skills (BIS) BIS has responsibility for enterprise, business relations, regional development and fair markets, along with responsibility for science and innovation, further and higher education and skills 1 Victoria Street London, SW1H 0ET Tel: +44 (0) 207 215 5000 Email: enquiries@bis.gsi.gov.uk Website: www.gov.uk/bis

Department for Culture Media and Sport (DCMS) The Department is responsible for the arts, broadcasting, creative industries, museums and heritage, sport and tourism and helps drive the Digital Economy. It was also responsible for the 2012 Olympic and Paralympic Games

HOW WE CAN HELP

100 Parliament Street London, SW1A 2BQ

Department for Environment, Food and Rural Affairs (Defra)

Financial Conduct Authority (FCA)

Defra is the U.K. government department responsible for policy and regulations on environmental, food, and rural issues

The FCA regulates the financial services industry in the U.K. Its aim is to protect consumers, ensure the U.K.’s industry remains stable and promote healthy competition between financial services providers

Nobel House 17 Smith Square London, SW1P 3JR Tel: +44 (0) 207 238 6951 Email: helpline@defra.gsi.gov.uk Website: www.gov.uk/defra

Taxation and Finance HM Treasury The Treasury is the United Kingdom’s economics and finance ministry. It is responsible for formulating and implementing the Government’s financial and economic policy. HM Treasury is headed by the Chancellor of the Exchequer The Correspondence & Enquiry Unit HM Treasury 1 Horse Guards Road London, SW1A 2HQ

Tel: +44 (0) 207 211 6000 Email: enquiries@culture.gov.uk

Tel: +44 (0) 207 270 5000 Email: public.enquiries@hmtreasury.gsi. gov.uk

Website: www.gov.uk/dcms

Website: www.gov.uk/hm-treasury

Department of Energy and Climate Change (DECC)

HM Revenue & Customs (HMRC)

The Department responsible for energy savings, a secure energy system, incentivizing low carbon investment, driving action on climate change and managing the U.K.’s energy legacy

HMRC is responsible for collecting the bulk of tax revenue, the payment of Tax Credits and Child Benefits, and strengthening the U.K.’s frontiers

3 Whitehall Place London, SW1A 2AW

Tel: +44 (0) 292 050 1261

Tel: +44 (0) 207 979 7777 Email: correspondence@decc.gsi.gov.uk

25 The North Colonnade Canary Wharf London, E14 5HS Tel: +44 (0) 207 066 1000 Website: www.fca.org.uk

Prudential Regulation Authority (PRA) Responsible for the prudential regulation and supervision of banks, building societies, credit unions, insurers, and major investment firms. In total the PRA regulates around 1,700 financial firms Bank of England Threadneedle Street London, EC2R 8AH Tel: +44 (0) 207 601 4444 Website: www.bankofengland.co.uk/pra

National Advice Service Website: w ww.gov.uk/hmrc

Website: www.gov.uk/decc

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Useful Websites BUSINESS LINKS

GOVERNMENT

GRANTS AND ASSISTANCE

www.babc.org – The British-American Business Council (BABC) is the largest transatlantic business organization, with a collective total of 2,500 member companies based in more than 20 major business centers throughout North America and the U.K.

www.gov.uk – The best place to find U.K. government services and information

www.gov.uk/hmrc – SMEs may be able to claim payable tax credits in cash from the Inland Revenue if they have losses in the accounting period

www.babinc.org – BritishAmerican Business is the leading transatlantic business organization dedicated to helping its member companies build their international business www.bexa.co.uk – The British Exporters Association (BExA) is an independent national trade association representing the interests of the export community www.gov.uk/companieshouse Companies House provides comprehensive guidance on company formation, a series of detailed booklets on various aspects and numerous useful addresses on its website; plus access to a free mobile app where you can access details of over 3 million companies www.uktradeinfo.com – As part of HM Revenue and Customs (HMRC), Statistical Analysis of Trade Unit (SATU) it focuses on U.K. trade statistics data EDUCATION www.britishcouncil.org – The British Council has been creating ties between people in the U.K. and those in other countries for over 75 years. It runs programs in education, English language, the arts, science and technology, sport and governance www.gov.uk/department-for-education – The Department for Education (DfE) is a department of the U.K. government responsible for issues affecting people in England up to the age of 19, including child protection and education

www.fulbright.org.uk – The U.S.-U.K. Fulbright Commission promotes peace and cultural understanding through educational exchange

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www.gov.uk/decc – Department of Energy and Climate Change (DECC), responsible for energy savings, a secure energy system, incentivising low carbon investment, driving action on climate change and managing the U.K.’s energy legacy www.gov.uk/home-office – The Home Office is the lead government department for immigration and passports, drugs policy, counterterrorism, police, and science and research www.gov.uk/ipo – The Intellectual Property Office is responsible for granting intellectual property rights in the U.K. It is responsible for examining and issuing, or rejecting, patents.

It also keeps registers of intellectual property including patents, designs and trademarks in the U.K. www.gov.uk/statistics – Provides official national statistics on Britain’s economy, population and society at national and local level www.gov.uk/bis – Department for Business, Innovation & Skills – its central purpose is to help ensure business success in an increasingly competitive world. It is the voice for business across Government. It leads the Government’s drive to raise U.K. levels of productivity, create the conditions for business success and strengthen the economic performance of all the regions uk.usembassy.gov – The U.S. Embassy in London

www.gov.uk/bis – The Department for Business, Innovation & Skills provides information on the range of grants and assistance that is available to business www.investni.com – Invest NI aims to grow the local economy by supporting new and existing businesses to compete internationally, and by attracting new investment to Northern Ireland. Invest NI offers the Northern Ireland business community a single organization providing high-quality services, programs, support and expert advice www.scottish-enterprise.com/services/ attract-investment – Scottish Enterprise, grants for investment projects. Regional Selective Assistance (RSA) encourages both indigenous and foreign companies to undertake investment that will directly result in the creation or safeguarding of jobs in Scotland www.business.wales.gov.uk/zones/ business-finance – The Welsh Government has a range of grants available to businesses looking to expand into Wales TRADE AND INVESTMENT www.gov.uk/ukti – The British government’s trade and investment department which provides free and confidential advice for U.S. companies looking to establish in the U.K. www.investni.com/invest-in-northernireland.html – Locate your business in Northern Ireland www.sdi.co.uk/invest – Locate your business in Scotland www.wales.com/business – Locate your business in Wales www.export.gov/unitedkingdom The U.S. Commercial Service U.K. (CSUK) at the U.S. Embassy in London promotes exports of U.S. goods and/or services into the U.K. market and inward investment into the U.S. It also provides a range of services and programs to help American companies export goods and services to the United Kingdom

HOW WE CAN HELP

www.ecis.org – The European Council of International Schools (ECIS) provides services to support professional development, curriculum and instruction, leadership, and good governance in international schools located in Europe and around the world

www.gov.uk/defra – The Department for Environment, Food and Rural Affairs (DEFRA) works for the essentials of life – food, air, land, water, people, animals, and plants

FOREWORDS

FOREWORDS

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