Strong year for inward investment breaks job creation records in Greater Manchester

Over 5,000 new jobs were created across Greater Manchester in 2021, a record high, thanks to a strong year for inward investment in the city region.

The city-region’s inward investment agency, MIDAS, has revealed it successfully closed 63 projects in 2021, creating a record 5,080 new jobs, surpassing the pre-pandemic figures in 2019 by 41%.

2021 saw global companies from across all sectors choosing Greater Manchester for new operations. The manufacturing sector saw the highest number of deals, with 20 inward investment projects taking places, including German manufacturer Schmitz Cargobull and Indian packaging manufacturer Hexcore, which launched presence in Wythenshawe and Rochdale respectively.

New investment from the professional services sector, including PwC’s new Spinningfields tech hub and insurance market disrupter, Berkshire Hathaway, will add a further £99 million to the Greater Manchester economy. Creative and digital sector investments were among the fastest growing, with a 50% increase in the number confirmed, including Roku, Getir and Cloud Imperium Games.

Tim Newns, Chief Executive of MIDAS Greater Manchester’s inward investment agency, which attracts new investment and supports significant expansion and relocations into Greater Manchester 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.

“Greater Manchester’s specialisms across digital and innovation sectors have shone – and 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 – welcoming new global businesses to Greater Manchester, as well as nurturing our startup and scaleup economy, and strong links between business, academia and the public sector.”

Analysis of the year by MIDAS has shown a £314 million economic contribution for the projects successfully closed during 2021, purely from the jobs created by investment. Other major job creating investment includes the relocation for 750 public sector roles thanks to the opening of new Manchester bases for the Home Office and Department for Business, Energy and Industrial Strategy.