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Businesses turn to US as land of opportunity

By Western Morning News  |  Posted: October 25, 2012

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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.

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."

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