Latest News

NEWS 15th December 2014

MIDAS half year results significantly up

• 48 projects landed. • Over 2,000 jobs created. • Of these jobs, over half (1,114) came from Greater Manchester’s priority sectors; creative and digital, life sciences, and advanced manufacturing. • 58% of jobs created and safeguarded came from foreign direct investment. With the recent positive news for Manchester around devolution, and further announcements around…

What people are saying

“Manchester has a real pull for businesses to come and set up here.”
David Emery
IBM Vice President for General Business North

Economic Overview

RBS building in Spinningfields

The ten local authorities of Greater Manchester – Bolton, Bury, Manchester, Oldham, Rochdale, Salford, Stockport, Tameside, Trafford, and Wigan – represent the largest functional economic area outside London, with a population of 2.6 million and gross value added (GVA) of £46 billion.

Greater Manchester’s Major Sectors

Financial & Professional Services 16.6%
Manufacturing & Engineering 16.1%
Health 13.0%
Retail 10.3%
Education 8.5%
Creative & Digital 7.7%

Source: ONS (2010) Annual Business Inquiry

In terms of employment concentrations against national averages, Manchester City Region has a comparative advantage in Aviation; Financial & Professional Services; Food & Drink; Core Manufacturing; Higher Education; Logistics and Textiles. Compared to the rest of the country outside London and the South East, Manchester has advantages in Creative Industries; IT & Digital, whilst concentrations of employment in Financial & Professional Services demonstrate the truly national significance of Manchester in this sector.

Biotechnology and Energy are the most productive sectors in the Manchester area in terms of GVA per employment, with Environmental Technology; Manufacturing; Engineering and Food & Drink also having above average productivity.

Greater Manchester’s economic growth has been driven by the large-scale and rapid expansion of the service sector, particularly financial & professional services. This sector accounts for a sixth of employment, a fifth of GVA and businesses, and contributed 45% of all GVA growth across Greater Manchester between 1998 and 2008.

Forecasts are for private sector growth in Greater Manchester to outstrip growth for the UK as a whole, and for the public sector to suffer less of a contraction here than nationally.

For helpful reports and the latest data for the Greater Manchester economy see http://neweconomymanchester.com

Contact Us

Contact us online or call
+44 (0) 161 237 4470

Related content

NEWS 15th December 2014

MIDAS half year results significantly up

• 48 projects landed. • Over 2,000 jobs created. • Of these jobs, over half (1,114) came from Greater Manchester’s priority sectors; creative and digital, life sciences, and advanced manufacturing. • 58% of jobs created and safeguarded came from foreign direct investment. With the recent positive news for Manchester around devolution, and further announcements around…

NEWS 10th December 2014

Government connectivity grants – no forms, no fuss, just savings

Government grants mean businesses in Manchester can get a better deal on superfast broadband, with no forms, no fuss, just a saving. Over 850 businesses in Manchester and Salford have taken advantage of grants of up to £3000 and now businesses wanting to upgrade, are getting connectivity deals as cheaply as £30 to £40 per…

See Manchester