Think London Opens Office in New York; London's Foreign Direct Investment Agency Targets Major US Corporates for Investment in London.

NEW YORK -- Think London, the foreign direct investment agency for London, announced today it will open its first U.S. office in New York City, as part of a growing international campaign to attract foreign direct investment to London. In figures just published by Think London, the number of U.S. companies investing in London has increased by 300 per cent since 2000.

According to Michael Charlton, Think London's Chief Executive: "The opening of the New York office reflects the importance of a sustained investment flow from U.S. companies to London. The U.S. accounts for more than 50 per cent of all foreign direct investment to London, and 10 per cent of London's GDP."

"U.S. businesses see London as their natural strategic partner for building global business, and the logical launch point for European operations. New York and London represent the world's only truly global financial centres. With the emergence of new investment markets round the world and intense competition for foreign investment, London is increasing its efforts to strengthen the strategic connection with the U.S., and particularly, with New York, our partner in driving the global economy. Our message is if you're in New York, you must be in London."

London is a critical destination for U.S. foreign direct investment. The total annual investment from foreign businesses in London topped $66 billion in 2005 - more than the total foreign investment in all of China and India combined. More than $33 billion of that figure came from businesses in the United States. Within the past year alone, Think London has helped over 50 U.S. companies set up or expand in London, including leading insurer Hartford Life, Amgen, the pharmaceutical giant, and Delta Airlines, creating 1,000 new jobs.

Think London offers free and confidential business advice and market intelligence to companies of all sizes, and from all sectors. "Our role is to help boards make decisions about London, based on detailed knowledge of infrastructure, talent pools and sectors. We are uniquely placed to provide intelligence, connections and opportunities in one of the most exciting and accessible cities in the world," commented Michael Charlton.

The organisation also provides guidance for US businesses on the huge commercial opportunities arising from the 2012 Olympic and Paralympic Games.

LONDON INVESTMENT FACTS:

--London remains the number one European destination for U.S. Foreign Direct Investment, well ahead of Paris, Frankfurt, Brussels and Dublin

--Over 6,700 U.S. companies currently operate in London

--One in ten businesses investing in London come from the Tri-state area 

--More than 50 percent of U.S. investment in London comes from the technology sector (Information, Communication, Technology); 20 per cent from business services and 11 per cent from financial services 

--London leads the world in cross boarder bank lending, marine insurance, commercial banking assets, foreign exchange and international bonds

--Foreign Direct Investment is responsible for nearly one in seven jobs in London

On the decision to launch in New York, David Riches, Think London Director, North America, commented:

"As world cities, London and New York share a special relationship, and many of the same advantages: a huge pool of talented and skilled people, from Chief Executive to workers at every level, access to international markets and access to customers. We share a very similar sector profile, leading the world in the creative industries, finance, ICT, media, business services and life sciences. We want to see this economic reciprocity continue to thrive. We're delighted to be in New York."

For more information, visit Think London's web site, www.thinklondon.com.

Notes to Editors

Think London

Think London is the foreign direct investment agency for London. We provide free, confidential and comprehensive advice to help international businesses set up and succeed in London. Since 1994 we have helped over 900 companies from 44 countries locate or expand in the capital. Think London's principal funding partners are the London Development Agency (LDA) and London's business community, through London First. Other key partners are the Corporation of London, which also provides funding, and UK Trade & Investment. www.thinklondon.com

London Development Agency

The London Development Agency (LDA) is the Mayor's agency for business and jobs and the principal funder of Think London. The LDA will continue to give strong support to Think London as part of a wide-ranging package of help for firms in the capital. As well as attracting overseas investors to London and working to keep them in the capital, the Agency is strengthening the support it gives to London's start-up firms, and small and medium-sized companies, including exporters. Last year, the LDA helped safeguard over 3,000 jobs in London by troubleshooting problems that impact on the commercial success of firms in the capital and providing creative solutions to them. www.lda.gov.uk

London First

London First is a business membership group working to improve and promote London with the objective of ensuring that London maintains and enhances its position as a leading world city. It delivers its activities with the support of 300 of the capital's major businesses in key sectors such as finance, professional services, property, ICT, creative industries, hospitality and retail. Membership also includes all of London's higher education institutions as well as further education colleges and NHS hospital trusts. www.london-first.co.uk