To ask the Chancellor of the Duchy of Lancaster how many industrial companies new to Devon and Cornwall have commenced investment projects as a result of the work of the Devon and Cornwall Investment Bureau in the years 1985–86 and 1986–87; and what is the estimated figure for 1987–88.
My Department provides grant-aid to the Devon and Cornwall Development Bureau (DCDB) to promote the region as a location for investment by overseas companies. I am advised that in the years specified, the number of start-ups by overseas companies new to Devon and Cornwall with which the DCDB has been actively involved is as follows:
These projects are expected to create around 1,000 new jobs.
In addition, the DCDB assists overseas companies with their plans to expand in Devon and Cornwall, and can claim to have been actively involved with 11 such successful projects over the period in question. These projects are expected to create a further 600 new jobs.
My Department's contribution to the DCDB does not cover work to encourage United Kingdom companies to relocate within Devon and Cornwall, and I have no information on the level of this activity.