The availability of labour and land has fallen, domestic capital is abundant, the local market is now understood to be among the most attractive in the world and sentiment has become more nationalistic and self-satisfied.
CSC, a computer services firm which set up an office with 380 people in Knowsley a year ago, says that low rents and availability of labour were more important than subsidy in persuading his company to choose Merseyside.
The rise in urban living, the shift away from manual labour, the increase in car use and the availability of cheap energy-dense food are among many factors behind the increase.
During environment, food and rural affairs questions on 5 July 2012, Labour MP Julie Hilling asked what ministers were doing to ensure universal availability of flood insurance.