The UK remains the single largest foreign investor in the US and supports just over one million high-paying jobs – according to the annual Sterling Assets Report, published last week.

The Report, developed in conjunction with the Confederation of British Industry, details the strong level of British investment throughout the United States as well as a state-by-state breakdown of US exports to the UK. The UK is now the largest

export destination in the EU and 5th largest destination in the world for US goods and services exports.

California had the second largest number of jobs supported by US affiliates of British Owned companies – 81,000, following New York on 83,700.

California is third in the table of the value of US merchandise exported to the UK, with $4,154 M in goods, compared with $6.649 M from Utah and $6,553 M from New York. 

In his forward to the document, the UK’s Ambassador to the United States, Sir Peter Westamacott, said: Enhancing the mutual prosperity of Britain and America is a top priority for the Embassy and our nine Consulates around the country. UK-US trade was worth over $207 billion last year — more than twice as much as our trade with the UK’s second largest commercial partner, Germany. We are encouraging investment in the UK by helping American companies to expand internationally as well as assisting UK companies to bring their innovative products and services to the US. 

“Strengthening Britain’s commercial relationship with the United States is a central part of our plan for returning the UK to sustainable economic growth. We have already taken bold action — such as cutting our corporate tax rate to 24 per cent this year (22 per cent by 2014), stripping away regulations, and investing in skills and infrastructure. In other words, Britain is open for business. But the success of our plan hinges on continuing our incomparable partnership with the United States. At a time when we are both looking for ways to strengthen our economies and restore growth, keeping our borders open to bilateral trade and investment remains crucial.”

You can download the full Sterling Assets report here.