Inward investment adds £314m to Manchester economy in 2021 

Midas, Manchester’s inward investment agency, has reported the creation of 5,080 new jobs in 2021, 41% higher than the amount recorded in 2019.  

PwC’s tech hub in Spinningfields, Cloud Imperium Games’ 87,000 sq ft letting at Enterprise City, and Roku’s decision to open a 120,000 sq ft hub at Bruntwood SciTech’s Circle Square have all contributed to the rise in jobs, Midas said. 

Midas, which attracts new investment and supports significant expansion and relocations into Greater Manchester, has seen a 50% increase in the number of creative and digital sector investments into the city region. 

The professional services sector is reported to have brought in a £99m boost to the economy, Midas said. 

Meanwhile, manufacturing generated the highest number of deals, with Midas involved in 20 inward investment projects, including German manufacturer Schmitz Cargobull in Wythenshawe and Indian sustainable packaging manufacturer Hexcore in Rochdale. 

Greater Manchester has also seen a series of central government relocations, which are bringing senior policy roles to the north, with 750 jobs and a GVA of more than £40m. The moves include the Home Office and the Department for Business, Energy & Industrial Strategy. 

Midas has reported a £314m GVA contribution for the 63 projects in closed in 2021. Credit: Place North West

Tim Newns, chief executive of Midas, said: “We started 2021 faced with the UK’s third national lockdown and the economic challenges that brought.  

“But Greater Manchester continued to show its resilience and tireless drive for growth, collaboration, new thinking and the development of exceptional talent and world-class facilities, which is a compelling proposition for businesses looking to invest in the UK.” 

Analysis of the year by Midas has shown a £314m GVA contribution for the 63 projects it closed during 2021. 

“Greater Manchester’s specialisms across digital and innovation sectors have shone,” Newns added. 

“We have secured the highest annual number of new jobs on record, with further major inward investment relationships being built as we head towards 2022. We have strengthened our position as one of the world’s leading tech cities and a growing innovation hub.”