MIDAS announces record results

May 31st, 2010

logo-midasMIDAS with the support of the Northwest Regional Development Agency (NWDA), has created a record 3609 new jobs across Manchester City Region in 2009-10.

And the investment and development agency for Manchester has also helped safeguard a further 1,350 existing jobs, bringing the total number of jobs created and safeguarded to 4959 and the total number of successful projects to 94 – an increase of 13% on last year’s figure of 83 projects.

The results also highlight a record number of foreign direct investment jobs created in the past year, a total of 3655, spread over 56 projects – an increase from the 30 projects in 2008-9.

The collaboration between MIDAS and the NWDA has been vital to the impressive, record figures.

According to MIDAS, the figures – the best the organisation has ever posted – illustrate MIDAS’ vital role in attracting new investment in an increasing competitive global marketplace.

Commenting on the publication of its 2009/10 results , Michael Oglesby, Chairman of MIDAS said: “MIDAS has again out-performed against all its challenging targets, enhancing Manchester’s position as a world class location of choice for major private and public sector employers.

“No one is expecting the coming year to be an easy one and the need for Manchester’s voice to be heard worldwide whenever jobs and relocation are being considered has never been greater. We are, however, optimistic and there are positive signs for us to attract yet more jobs and investment in the coming year.”

Steven Broomhead, Chief Executive of the NWDA, said: “We are delighted at the figures recorded by MIDAS, particularly given the difficult economic conditions and we hope this gives us a good indication to the UKTI Foreign Direct Investment statistics which come out in July. The NWDA and MIDAS have worked hard on a number of projects in the past year, such as UK Data Capture, which have really helped drive the numbers to a record level.”

“The NWDA is also working hard with the UKTI, to develop the international competitiveness of Manchester and the region and we shall continue to focus our efforts on good quality foreign investment but we are realistic and we know that the year ahead will also be a challenging one.”

New inward investment successes that MIDAS has helped to attract jobs to the city region include John Lewis, Sky, UK Data Capture, Societe Generale and SPX – a US-based multi-industry manufacturing group with operations worldwide.

One of these organisations, SPX, chose Manchester as the location for a major Shared Service Centre (SSC) for its pan-European operations creating 160 new jobs.

Mary Sczudlo, vice-president, chief financial officer for Global Shared Services at SPX, said: “MIDAS proved to us that Manchester has everything we need to make the SSC a success – the location, the infrastructure with excellent transport connectivity overseas and most importantly, the existing SSCs and highly impressive talent pool.

And in an example of the thriving creative industries investment, Falling Pixel, Europe’s leading supplier of high quality professional 3D content, sourced from professional studios and artists worldwide, opened a new office in Manchester.

“Although trading internationally we’re a relatively small company with high growth plans. The support and help from MIDAS was amazing, introducing us to other organisations, companies and individuals in the areas that made us feel welcome whilst we explored various locations”, said Jonathan Lloyd, CEO of Falling Pixel.

Building on previous success, MIDAS adopts a two pronged approach – by working closely with existing valued employers, ensuring they have every support to protect employment and create additional new jobs in the city region, and second to be active on the UK and world stage to attract new investment to Manchester, including the high growth sectors such as financial services, shared services, the creative industries and life sciences/pharmaceuticals.

Geographically, the highest number of jobs and investment has come from the US at 41%, followed by the rest of the UK at 26%, the EU at 21% and important new markets such as India at 7%.

Overseas links with Manchester have also continued with the creation of the Manchester Business Club which has already held successful events in Singapore, Kuala Lumpur and New York with further initiatives planned in Mumbai and Los Angeles later in the year.

Michael Oglesby concluded: “These are all factors that have won Manchester global recognition, including a coveted top twenty rating for investment projects in the influential IBM Global Location Trends Survey, being named Europe’s most Competitive City by KPMG International and as ‘The Most Admired Knowledge City Region’ at the MAKCi global awards ceremony in Schenzen, China.

“For these and our other successes I would like to pay tribute to our dedicated staff, our supporters including the NWDA and our ten local authority stakeholders, and also to the many city region business leaders who tirelessly act as superb ambassadors for Manchester.”

Source: MIDAS

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