Ford Credit Europe, the financial services arm of Ford Motor Company, has opened a new business centre in Manchester’s First Street development. By the end of 2015 it will employ some 140 people in state-of-the-art offices that cover 25,000 square feet. The team will provide financial services to Ford dealers so they can stock their dealerships with new and used Ford vehicles.
“We selected Manchester after a detailed appraisal of sites across the UK because of its great infrastructure and the outstanding pool of multi-lingual residents,” said Matt Hinton, manager of Ford Credit’s Manchester Business Centre. “Our offices have a great location in the First Street development, and we are proud to become part of the Manchester community. Our recruitment plans are on track and I’m impressed by the high calibre of the team who have elected to come to work for Ford Credit.”
Ford Credit Europe finances the retail sale of more than one in three new Ford vehicles in 15 European countries and declared profits before tax of £214 million in 2013. It worked with the team at MIDAS, Manchester’s inward investment agency, in selecting Manchester for this significant investment.
Tim Newns, chief executive of MIDAS, said: “Securing this investment from Ford Credit is excellent news and further proof of Manchester’s positioning as the most efficient UK location to undertake financial services operations. This is a substantial investment from a major global brand and, coupled with other recent investments in this sector from the likes of Towergate and Worldpay, creates a significant number of new jobs in the city.
“This investment is also another shot in the arm for First Street and its continuing development in to what is fast becoming one of the most desirable addresses in Manchester, not least due to the huge investment going in to the cultural offering in the surrounding area. We look forward to continuing to support Ford Credit as it becomes part of the fabric of the city.”
Ford Credit’s Manchester Business Centre initially will provide financial services to Ford dealers across the UK to support the sale of Ford vehicles. In the future it aims to also offer this service to Ford dealers in other European countries.