EY - Global Britain, Global Counties

This report, produced by EY for the County Councils Network (CCN), examines the performance of England’s county and county-unitary areas in attracting Foreign Direct Investment (FDI).

It highlights that CCN authorities play a significant and growing role in the national investment landscape, securing more projects than any local government grouping outside London. These projects, when delivered, create more jobs than London.

Counties demonstrate strong structural advantages - such as land availability, established supply chains and economic diversity—but still attract proportionately less FDI than major metropolitan areas when measured per capita.

The report identifies opportunities for counties to strengthen their approach to investor engagement, develop clearer proposals, and leverage emerging devolution arrangements to improve economic competitiveness.

Key findings in the report include:

• CCN authorities attracted 22% of England’s FDI projects between 2018–21, the only grouping to increase market share during this period. Counties delivered 761 projects, generating over 40,000 jobs.
  ‍
• This is more than London despite delivering almost 1,000 fewer projects.
  ‍
• FDI projects in counties produce 83 jobs per project on average, outperforming London and mayoral combined authorities.
  ‍
• Counties show a significant rise in R&D investment (up 94%), with particular strengths in manufacturing and logistics sectors.

Recommendations for local authorities include:

• Develop clear, data‑driven investment proposals, tailored to county strengths.
  ‍
• Strengthen local skills strategies, reflecting investors’ top priority for workforce capability.
  ‍
• Enhance business networks and supply‑chain visibility to attract and retain investors. Increase local capacity for inward investment.
  ‍
• Use devolution to secure powers and funding needed for long‑term investment planning.