American businesses are increasingly looking across the pond for opportunities to set up shop, according to a new study. According to a report by UK Trade and Investment, the United States is the largest investor in the United Kingdom for the third year in a row. The report showed that the U.S. remains the largest source of foreign direct investment, with a total of 564 projects last year. Martin Cook, Director of UK Trade and Investor USA, said U.S. companies are attracted to the UK because its labor laws are similar to the U.S. and the tax rate stands at 20%. He pointed out the growth over the last year has been led by software and technologies companies. ‘Five years ago venture capital investment into firms in London was 100 million pounds. It was nothing,’ said Cook. ‘ Last year it was 1.5 billion pounds, and the first quarter of this year it’s 670 million pounds. So we’re seeing an ever increasing trajectory of companies investing in the UK and growing their technology spaces in the UK.’ Some of the companies that have invested in the UK include Microsoft (MSFT), IBM (IBM), Cray (CRAY).