Middlesbrough has been highlighted as a European hotspot for business investment potential.
The town has retained its place in the 2024/25 Financial Times’ European Cities and Regions of the Future report. Middlesbrough was named sixth best ‘small city’ for its foreign direct investment (FDI) strategy.
Middlesbrough Mayor Chris Cooke said the ranking was a boost to businesses of all sizes and sectors as he praised the companies flying the flag for the town.
“We have firms based here doing extraordinary things on a global scale and this ranking is another feather in our cap,” Mayor Cooke said.
“This speaks volumes about the Council’s economic growth team and our local businesses. As ever, Middlesbrough is a place of resilience and innovation and working together we will thrive.
“The companies that are winning new investment and creating jobs of all kinds are helping to support local families and make Middlesbrough a better place to live and do business.
“I want to build a healthier, safer and more ambitious Middlesbrough and recognition like this for our local economy provides plenty of optimism for the future.”
Data on economic potential, the local workforce and lifestyle, cost effectiveness, connectivity and business friendliness was assessed alongside a submission from Middlesbrough Council on its FDI strategy.
The submission highlighted recent success stories including the games studio formerly known as Sock Monkey, which became part of the Behaviour group after acquisition by the Canadian developer behind top hits including Dead by Daylight.
Behaviour UK General Manager Bob Makin said: “We were incredibly excited to become part of Canadian game developer Behaviour Interactive.
“One of the main attractions was their excitement for giving back to the areas that the studios are based in, not only through creating highly skilled jobs and heavily investing into the offices and technology of the studios, but giving back through philanthropic efforts, educational support and promoting the area on a global scale.”
Middlesbrough Council supported the company’s relocation when it expanded in advance of the buyout by Behaviour.
The submission also celebrated growth of companies including homegrown gaming agency Double Eleven and booming engineering firm Paralloy.
Middlesbrough was first recognised in the Financial Times’ fDi supplement in 2019.