UK Secures Major £10 Billion Investment from Blackstone

Prime Minister Keir Starmer has secured a significant £10 billion investment from Blackstone, a leading global investment firm, during his visit to New York. This investment will drive economic growth and create thousands of jobs in the North East of England.

The investment will fund the construction of Europe’s largest AI data center in Blyth, Northumberland. This project is expected to create over 4,000 jobs, including 1,200 roles dedicated to the construction of the site. The data center will store the vast amount of data required to power AI systems.

Prime Minister Keir Starmer said: “The number one mission of my government is to grow our economy, so that hard-working British people reap the benefits – and more foreign investment is a crucial part of that plan.New investment such as the one we’ve announced with Blackstone today is a huge vote of confidence in the UK and it proves that Britain is back as a major player on the global stage and we’re open for business.”

Blackstone’s commitment to the UK extends beyond this investment. The company plans to invest £110 million in a fund to support skills training and transport infrastructure in the area.

Jon Gray, President and Chief Operating Officer of Blackstone, said: “The UK is a top investment market for Blackstone because of its powerful combination of talent and innovation along with a highly transparent legal system. We are making significant commitments to building social housing, facilitating the energy transition, growing life sciences companies and developing critical infrastructure needed to fuel the digital economy. This includes a projected £10 billion investment to build one of Europe’s largest hyperscale data centres supporting 4,000 jobs. Blackstone is committed to Britain”.

The UK’s reputation as an investment destination has been a key focus for the Prime Minister. This investment from Blackstone is a significant boost to the UK’s efforts to attract foreign investment and drive economic growth.

The UK International Investment Summit, scheduled for October, will further showcase the UK’s economic strengths and attract additional investment. The summit aims to bring together leading CEOs and investors from around the world.

The investment from Blackstone also strengthens the UK’s bilateral trading relationship with the US, which is already worth over £340 billion. This partnership benefits both countries, with millions of Americans and Brits working for companies in each other’s economies.