Businesses turn to US as land of opportunity
An ambitious campaign to attract major investment from the United States into the South West has been launched in Devon.
The £30,000 project funded by the Mayor of Torbay and run by Torbay Development Agency (TDA) is part of a strategy to create up to 5,000 new jobs in Torbay within the next five years.
South Devon business leaders hope it will boost investment in the hi-tech and call centre industries and drive urban regeneration.
After a tendering process, a successful bidder will be appointed for a two-year period with the aim of attracting five to ten new investors to Torbay.
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Mayor of Torbay Gordon Oliver said: "This is a brave move for Torbay to branch out into the competitive US investment market.
"(But) it is also a wonderful opportunity for us not to miss."
Jason Buck, TDA's investment development manager, said: "The United States is a major source of direct foreign investment and remains the biggest market. We are targeting those US companies who are research-driven and looking to expand into new markets."