Growth Company hails strong start
MANCHESTER Growth Company (MGC) has produced its first set of performance highlights charting its progress.
They reveal that in the year 2014-15, MGC supported the creation of 17,767 jobs, placed 5,417 unemployed people into work, managed 92 inward investment projects, provided 3,272 apprenticeships and supported 2,596 new business start-ups, generating £349m Gross Value Added to the economy.
MGC was created in 2013 by bringing the Manchester Solutions Group, including the Business Growth Hub, together with Marketing Manchester, MIDAS and New Economy.
It aims to achieve a transformation of the Greater Manchester economy, delivering on the priorities set out in the Greater Manchester Strategy.
MGC Group chief executive Mark Hughes said: “The integration of the companies that now form the group into a single organisation has enabled better coordination of the economic development functions of Greater Manchester and ensures that not only are efficiency savings delivered but that all resources are more directly aligned to our local priorities, as set out in the Greater Manchester Strategy.
“As a company we have had a very significant and positive impact on the local economy through the creation of jobs, via our business support and business finance activity and as a result of our inward investment delivery.
“We have also placed more 5,000 unemployed people back in to work and have supported 29,000 learners, making us one of the largest skills providers in the North West. I believe this has been a very productive year for the Manchester Growth Company and I look forward to the exciting opportunities that the next twelve months will bring.”
Manchester Growth Company chairman leading banker Richard Topliss added: “I was delighted to take up the post as chair of MGC in November 2014, coincidentally in the same month that the Chancellor announced the Greater Manchester trailblazing devolution deal.
“In the time that has passed there have been many further developments, yet we are only at the beginning of a very exciting journey and MGC will continue to work across the devolution agenda, ensuring the company is equipped for its role around implementation.”
“Looking ahead MGC has a pivotal role to play in terms of boosting Greater Manchester’s skills and business base through initiatives such as GM Futures and the next stage of the government’s apprenticeship reform.
“The promotion of those sectors that have the most potential for Greater Manchester and the Northern Powerhouse will also be a priority and there are some major opportunities on the horizon to help deliver this; most notably Manchester’s stint as the European City of Science and host of the prestigious EuroScience Open Forum in summer 2016.
“I have no doubt that the level of ambition and determination that we have seen at MGC over the last year, will only become bolder as we move into 2016.
“With the development of a less centralised and more sustainable economy, there will inevitably be plenty of challenges to be faced in the coming months and it is a great pleasure to be a part of a team that has the resources and the ability to come up with the solutions.”
Meanwhile it has emerged that Andrew Stokes, the chief executive of Marketing Manchester is to stand down after 17 years with the agency and 14 years as its boss.
