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25 May 2004

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Greater Peterborough Investment Agency

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Agency targets food firms in relocation campaign



Greater Peterborough Investment Agency will be targeting UK food and drink manufacturers with messages about the financial benefits of relocating their business to the Peterborough area when it participates in Foodex Meatex, the country’s leading food industry exhibition at the NEC Birmingham from Sunday 17 to Wednesday 20 March.

The agency will be armed with independent research that demonstrates how food sector firms based in the Peterborough area achieve turnover growth at up to twice the rate of similar companies located elsewhere in Britain.

Agency chief executive Gloria Milne said: “Peterborough’s strategic location close to the Fenland food producers and its excellent transport connections with the rest of the country provide a valuable competitive advantage for food and drink manufacturers.

“What’s more, our food companies can take advantage of the support services provided by the Wisbech-based FoodFen public-private partnership, which is dedicated to improving the profitability of its members.

“As a result, the Greater Peterborough area already has a significant cluster of successful food producers, manufacturers and packaging companies. In addition, our engineering technology firms have a reputation for developing innovative food processing machinery. All these benefits represent powerful reasons for food companies to relocate here.”

Independent research, conducted on behalf of GPIA, examined the financial results of food industry firms with turnover of between £5 million and £25 million over a five-year period. It revealed that companies located in Greater Peterborough achieved turnover growth of 66 per cent while similar firms located elsewhere in Britain achieved only 33 per cent growth. 

When firms with up to £500 million turnover were compared, those in Greater Peterborough achieved growth of 64 per cent while those elsewhere in Britain achieved only 44 per cent.

The GPIA stand will include display material and products from a representative sample of food companies that have flourished as a result of being located in the Greater Peterborough area.

Around 500 exhibitors and 20,000 visitors from 50 countries are expected to attend Foodex Meatex, which is held every two years.

January 2002

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5 The Forum
Minerva Business Park
Lynch Wood
Peterborough
PE2 6FT
Tel: 01733 404390

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