Investment Attraction

In 2021, Greater Manchester faced significant economic challenges due to the UK's third national lockdown, yet it emerged resiliently, achieving the highest annual number of new jobs on record. MIDAS, the region's inward investment agency, successfully closed 63 projects, resulting in the creation of 5,080 new jobs—41% more than in 2019, the pre-pandemic year. Key sectors contributing to this growth included professional services and creative and digital industries, highlighted by major investments such as PwC’s tech hub and Cloud Imperium Games' new game development studio.

MIDAS reported a 50% increase in investments within the creative and digital sectors, while professional services alone contributed over £99 million in gross value added (GVA). The manufacturing sector also saw significant activity, with MIDAS facilitating 20 inward investment projects, including partnerships with German manufacturer Schmitz Cargobull and Indian sustainable packaging firm Hexcore. The overall economic contribution from these projects was analyzed to be £314 million in GVA, directly linked to the jobs created.

The agency's efforts also extended to supporting green innovation, aligning with Greater Manchester's goal of achieving net carbon neutrality by 2038. Notable projects included the relocation of GFT, a digital transformation and green coding specialist, and the expansion of the financial services sector with Berkshire Hathaway establishing its second UK headquarters in Manchester. Additionally, the region welcomed various tech and health companies, such as Exergy Power Systems and SafeSteps, while also accommodating central government relocations that brought 750 jobs and a GVA of over £40 million to the area. Investments in collaborative facilities, like the £25 million Christabel Pankhurst Institute for Health Technology and Innovation, further strengthened the region's position as a hub for innovation and talent development.