A landmark £150 billion package of investment from the United States into the United Kingdom has been unveiled during the state visit of US President Donald Trump.
The UK government is hailing this as the largest commercial agreement of its kind, anticipating the creation of over 7,600 “high-quality jobs” nationwide.
The bulk of the capital will originate from Blackstone, the world’s largest alternative asset manager, which has announced plans for a £90 billion investment in the UK over the next decade.
Prime Minister Keir Starmer stated that these investments “are a testament to Britain’s economic strength and a bold signal that our country is open, ambitious, and ready to lead.”
“Jobs, growth, and opportunity is what I promised for working people, and it’s exactly what this State Visit is delivering,” he added.
On Thursday, key UK and US investors are scheduled to meet with the Prime Minister and President Trump at Chequers to explore avenues for deepening economic ties and future collaborations between the two nations.
Blackstone’s announcement follows a previous declaration in June of its intention to invest £370 billion in Europe over the coming decade.
Earlier this week, Microsoft pledged to invest £22 billion in the UK over the next four years, while Google committed £5 billion over the next two years to expand its existing data center in Hertfordshire.
These investments are also expected to provide a significant counterbalance to recent investment outflows in the pharmaceutical sector.
However, the announced investments from Google and Microsoft represent less than 4% of their annual expenditure, and the projected 7,600 jobs pale in comparison to the 160,000 payroll positions lost since last year.
Blackstone’s substantial investment is in addition to its previously announced £10 billion commitment for data center development in the UK.
Real estate investment trust Prologis is also poised to invest £3.9 billion into the UK’s life sciences and advanced manufacturing sectors.
Palantir intends to invest up to £1.5 billion in UK defense innovation and plans to create up to 350 new jobs.
American tech company Amentum plans to create more than 3,000 jobs and expand its UK workforce by over 50%.
Boeing has indicated that it will convert two 737 aircraft in Birmingham for the US Air Force, marking the first USAF aircraft built in the UK in over 50 years and potentially creating 150 high-skilled jobs.
US engineering firm STAX has also committed up to £38 million to expand its UK operations.
The total of 7,600 promised jobs are intended to be in all areas of the UK.
This includes 1,000 new jobs in Belfast and 6,000 more roles from Glasgow to Warrington, the Midlands and the North-East.
Business and Trade Secretary Peter Kyle stated that the deal reflects growing confidence in the UK’s industrial strategy.
“These record-breaking investments will create thousands of high-quality jobs across the UK,” he said.
“It’s a clear sign that our Plan for Growth is delivering for working people.”
The government affirmed its commitment to providing “real opportunities for working people,” including apprenticeships in clean energy and careers in biotech and AI.
This announcement precedes the signing of the Tech Prosperity Deal on Thursday, a significant new agreement aimed at accelerating the development of new nuclear power in both the US and the UK.