MIDAS bullish on job creation prospects after strong half-year
GREATER Manchester’s inward investment agency MIDAS has reported encouraging half-year figures, and says its pipeline of opportunities has grown significantly as the economuic outlook has picked-up.
The organisation said it had been involved in the creation of nearly 1,600 jobs in the first half of the financial year.
More than 900 jobs were created as a result of 15 foreign direct investment (FDI) projects including German biotech company Qiagen (wose investment created 115 new jobs and safeguarded 160 more, US advanced materials producers Tygavac (15 jobs and 58 jobs safeguarded) and leading semiconductor company NXP (100 jobs).
MIDAS said UK indigenous investment accounted for around 700 jobs from 18 projects and included IT infrastructure company Comtec (30 jobs), Sainsburys service centre (118 new jobs created in ICT and HR).
Regarding its pipeline, MIDAS has received 160 leads in the first six months of the year – more than the whole of the total number received in the 2012-2013 financial year.
It estimates these projects have the potential to deliver 7,792 jobs to the region.
Chief executive Tim Newns said: “Whilst we are extremely pleased to have had a very positive half year, it is even better to see significant growth in the current project pipeline. Whilst not all projects will land, this increased interest from companies looking to invest in Manchester shows there’s growing confidence in the local and national economy.”
“The investment environment has been challenging over the past few years, and there has been a need to simply deliver projects and new jobs.
“The priority for this year has been to rebuild the foundations for growth by increasing promotional and lead generation activity. Greater Manchester may not fully realise the benefits of this activity for another 12-24 months, however it will strengthen the position of the region in the medium-term.”
MIDAS said based on benchmarking research it would increasingly focus its activities to ensure the most is made of assets such as Airport City, MediaCityUK, Manchester Science Park, Citylabs and Medipark in Trafford Park.
