Small is beautiful, according to Telford Development Agency.
New research has shown that the kind of companies investing in the Telford area is changing.
A survey commissioned by Telford Development Agency showed there was less emphasis on large manufacturing, distribution facilities and overseas companies coming into the town.
Kim Gilmour, inward investment manager, said: "There has been a real move towards smaller more specialist companies investing in the area.
"And with the changing face of investment, it is also clear that the type of properties which companies are looking for both now, and for the future, is also changing.
"It is important that local organisations work together to meet the needs of existing companies and new investors, in order to maintain Telford's position as a growing business destination."
The research showed that generally investors had a positive perception of the area, compared to other locations, but that focussed and targeted promotion of the town would be crucial.
"The questions were put to 50 companies who had made inquiries to TDA about relocating or expanding their business into Telford, and their replies were very revealing," said Mrs Gilmour.
Companies interviewed included industrial agents, office agents, builders, developers, legal organisations and other service companies from across the Midlands.
The issues which companies felt were of primary importance were the availability of suitable property, the cost of property and land, local workforce skills, and the quality of property and land available. Telford has a strong image as a business destination, and its main strengths were listed as the road infrastructure and its convenient and easily accessible location," said Mrs Gilmour.
The results of the findings will now be used to draw up a more structured and focused marketing plan for the future.
Meanwhile, Solihull is in increasing demand as a business destination according to a separate report.
The annual Business and Investment Trends Report 2004-2005, shows that Solihull Council's business investment team received a total of 454 inquiries last year, an average of 37 a month and, with its partners, have attracted companies from the local area and from overseas as far away as Australia. In total, 544 new or relocated jobs have been brought into the town.