01 May 2013

MIDAS supported 3,038 jobs across 81 projects in Greater Manchester during 2012-13

01 May 2013 - Manchester’s inward investment agency, MIDAS, has exceeded targets and supported the creation of 3,038 jobs across 81 projects in Greater Manchester during 2012-13. In total the number of jobs created, safeguarded and relocated with support from MIDAS during the 2012-13 financial year was 4,143, with a GVA (Gross Value Added) impact of £189 million.

Of these recent investments, the ICT (information and communications technology) and F&P (financial and professional services) sectors have supplied the highest number of new jobs with a 23% and 19% jobs share respectively. The new jobs are the result of both foreign direct investment (FDI) and UK-based projects.

A large proportion of this year’s investment projects (26%) has stemmed from the media and creative industries, conveying the rapid growth of the media supply chain that has followed the relocation of the BBC and ITV Granada to MediaCityUK, as well as the further development of the Sharp Project.

Projects arriving in Greater Manchester in the last year include California’s EON Reality (bringing 240 jobs), the Bank of East Asia, Polantis, Worldpay, Bright Futures, Healthforia, and Factory Games.

Tim Newns, chief executive of MIDAS, said: “We’re delighted with these results, especially as the newly created jobs span such a broad range of industry sectors, reflecting the strength and diversity of Manchester’s offer.

The countries of origin for many of these projects suggest a healthy appetite for investing in the region, particularly from the US market. Greater Manchester has also seemingly bucked the trend by continuing to attract a high level of European projects.

“The key to continuing this success will be in keeping the spotlight on Greater Manchester’s strengths; namely its knowledge hubs, its scientific achievements, and the rapid growth of the digital sector."

“We’re also keen to push forward with Manchester’s ambitions to increase connectivity with China. The new Manchester China Forum will be essential in helping to boost our capacity to drive investment from this important market and we look forward to establishing similar initiatives in other key markets.”

Michael Oglesby, chairman of MIDAS, said: “Although economic times remain challenging these are strong results that continue to show Manchester’s attractiveness as an investment location. Over the next 12 months MIDAS’ focus will be on identifying as many new business opportunities as possible in order to strengthen and build on the project pipeline. This activity will comprise a blend of mature markets, such as US and Europe, and growth markets such as India and China.”

MIDAS works in close partnership with UK Trade and Investment (UKTI) to secure international business for Greater Manchester. MIDAS offers an extensive package of expert, free and confidential advice for potential investors and location consultants. 

Source: MIDAS