MIDAS brings 1,600 jobs to Manchester

INWARD investment agency MIDAS says it has created more than 1,600 jobs in Greater Manchester over the last six months, but warned of tougher times ahead.

MIDAS, which has a target of securing 3,000 jobs in its 2008/09 financial year, has helped a number of UK bodies and international brand names relocate to the city including the Arts Council, the Parliamentary and Health Service Ombudsman, BMI Healthcare and Credit Suisse.

The most recent company to come to the region is Spanish-owned packaging company SAICA which is bringing a further 250 jobs to the region.

While MIDAS chairman Michael Oglesby said the results were very encouraging in the face of an incredibly challenging economic climate, the agency warned against complacency.

Chief executive Colin Sinclair said: “The second half of this financial year will be extremely tough, with the meltdown of the global financial markets impacting hard on all of MIDAS’ projects relating to indigenous business growth, inward investment, airport route development and property schemes.”

Mr Sinclair added he hoped that the Manchester city region will be better equipped than most to weather the economic storm, with key public sector relocations from London, including the BBC move to MediaCityUK, set to continue.

Commenting on the Association of Greater Manchester’s Authority’s bid for a multi-billion pound investment in the city region’s transport network, Mr Sinclair said:  “The up to £3bn investment through the TIF bid would be Greater Manchester’s best chance to come through the next three years ahead of its UK and European rivals.”