Investment Attraction

The Greater Manchester Investment Zone has been established to address specific challenges in the advanced manufacturing and materials sector, which is crucial for the region's economic growth. The area has a strong historical foundation in manufacturing, yet it faces the need for modernization and innovation to remain competitive. The Investment Zone aims to create 32,000 jobs and attract £1.1 billion in private sector investment, supported by £160 million in public funding over the next decade. This funding will facilitate initiatives such as research and innovation, skills programs tailored to the sector, infrastructure improvements, and targeted business support.

Key investments exceeding £10 million have already been made by companies like Kadant, Werit, First Graphene, and Hydrograph, indicating a strong commitment to the region's growth. The Greater Manchester Combined Authority (GMCA) is collaborating with the government and local universities to develop specific plans that will enhance cluster growth and leverage the region's existing strengths in advanced manufacturing. This includes the extension of the Made Smarter Adoption program, which has successfully helped SME manufacturers adopt digital technologies to boost productivity and reduce carbon emissions.

The anticipated outcomes of the Investment Zone are significant, with the advanced manufacturing sector alone employing around 110,000 people and generating approximately £8 billion in economic output annually. The initiative is expected to provide a competitive edge for Greater Manchester, enhancing its attractiveness for international investment and fostering the commercialization of research and development into business growth, ultimately leading to the creation of high-value, highly skilled jobs in the region.