Manchester's Inward Investment Agency bucks trend to reveal record half year results - MIDAS

Manchester's Inward Investment Agency bucks trend to reveal record half year results

23 October, 2008 – Manchester's Inward Investment Agency bucks trend to reveal record half year results

MIDAS reports 1,600 new Greater Manchester jobs created in last six months

MIDAS, Manchester’s Inward Investment and Development Agency, has today announced record half-year job creation figures for the city region.

A series of high-profile relocations to the region that have taken place in the first half of this year has helped to deliver 1,600 new jobs. The breadth and strength of the city region’s offering to UK companies and public sector agencies, as well as leading international corporations has enabled the region to remain a leading European destination for investment.

Recent relocation successes include the Arts Council, the Parliamentary and Health Service Ombudsman, BMI Healthcare and Credit Suisse.  As well as attracting new agencies and companies to the city region MIDAS has continued to support existing businesses located in the city region. This support has witnessed major expansions by the Bank of New York Mellon and US-owned Teletech.

These results reflect the strong track-record MIDAS has in delivering high-levels of support and expertise to companies considering relocating. Those that have relocated to the city region in 2008 join a growing list of leading international companies, including Google, Adidas, IBM, Bank of India and Sainsbury’s, who have recognised the economic benefits the city region has to offer.

Commenting on this strong performance, MIDAS Chief Executive Colin Sinclair warned against complacency:  “The second half of this financial year will be extremely tough for all major European cities. The meltdown of the global financial markets will inevitably impact hard on all of MIDAS’ projects relating to indigenous business growth, inward investment, airport route development and property schemes.

“However, with such a competitive offering, the Manchester city region will be better equipped than most to weather the economic storm. Key public sector relocations from London, including the BBC move to MediaCityUK and the prospect of a multi-billion pound investment in the city region’s transport infrastructure, reflect these strengths. The efforts of MIDAS, the Greater Manchester Local Authorities and the NWDA, to support Manchester-based businesses, and to attract national and international investment to the region, will continue to deliver a complete and world-class offering.”

Michael Oglesby, MIDAS Chairman said: “In the face of an incredibly challenging economic climate, these results are very encouraging for Greater Manchester.  The results are testament to the hard work of the MIDAS team, the support of our ten local authority partners and the Northwest Regional Development Agency, and the relationships we continue to develop with key partner organisations such as The Economic Commission, Marketing Manchester, Manchester: Knowledge Capital, and pro.manchester”.

Source: MIDAS

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