MIDAS celebrates growth in Greater Manchester’s key sectors 

• Over 2,960 jobs created by MIDAS in 2022
• New HQ projects make Greater Manchester a hub for excellence
• A focus on R&D brings exciting new innovators to the city

MIDAS, Greater Manchester’s Inward Investment Agency has reported a strong calendar year, closing 52 projects¹ that have resulted in the creation of 2,966 jobs in Greater Manchester’s key growth sectors.

As part of the agency’s work to attract new investment into Greater Manchester, MIDAS, who celebrated 25 years of supporting the city-region’s expansion this year, has tailored its strategy to address long-term priorities and create a highly prosperous and inclusive society.

As a result, 100% of jobs created² sit above the real living wage and almost 70% of those pay a salary of at least £35,000.

Additionally, more than triple the number³ of high-quality companies were won this year. MIDAS defines a high-quality company as one demonstrating a B corporation certification or a member of the GM Good Employment Charter.

Rhys Whalley, Interim Managing Director of MIDAS said:

“Creating quality, meaningful jobs has always been at the top of our priorities. In 2022 we’ve taken this to a new level by ensuring that the impact of foreign direct investment is felt for years to come and is critical in building a fairer, greener and transformative place to live, work and invest.

MIDAS has actively targeted businesses that lead in their fields to boost Greater Manchester’s most innovative and valuable sectors, ensuring it continues to be the leading city-region for investment.”

In 2022, almost double the number of R&D projects were won. These include Digital Transformation Specialists 6point6, Graphene Innovations Inc and Global IT Consultancy Firm, Navtek Solutions.

Welcoming businesses such as these to the city-region remains critical in driving innovation and helping to develop and scale new solutions across industries such as Advanced Manufacturing, Creative, Digital and Technology, Life Sciences, Low Carbon and Financial Professional & Business Services.

2022 was also a strong year for HQ projects, creating senior decision-making and policy roles that help to nurture a landscape of inclusive growth across all ten boroughs of Greater Manchester and have an impact far beyond the region.

Ten new Head Offices landed this year and include Global Energy Specialists Bougyes Energies & Services, Accountancy App Rupee and Manufacturing Supplier Drillco demonstrating this diverse growth.

Janet Coulthurst, Chief of Staff at 6point6 commented: 

“As a high growth technology consultancy, what drew us to Greater Manchester was the opportunity to catalyse even more amazing growth. As one of the fastest growing tech hubs in Europe, Greater Manchester is home to an internationally-recognised ecosystem of tech excellence and innovation, with world-class talent and leading academic institutions right on our doorstep.

“We’ve been completely blown away by the vibrancy of the local tech ecosystem. With growth ambitions that match our own, it’s no surprise that many of the UK’s fastest growing tech businesses are choosing to join Greater Manchester’s leading digital and cyber community.”

Oli Galvin-Jones, Director and Co-Founder at Rupee Solutions said:

“Rupee has had an amazing 2022 and a lot of that lies down to the relationships we’ve established in Manchester. 

We have forged partnerships with several Manchester organisations and through working with software house Koderly, we have been able to adapt to the UK market and gain a valuable “local” perspective on our platform. 

As has been the case from day one, MIDAS have been a constant for us, providing support in many forms and ensuring we’re up to date on everything that can help Rupee grow as a business.

We hope to continue our growth into 2023, with the launch of our Rupee V1.0 fast approaching.”

Adeel Aslam, Technical Director at Bouygues Energies & Services said: 

“For a design and build company focused on industrial markets, Manchester is a perfect area to undertake business. The city and its environment offer a supportive ecosystem of numerous exciting opportunities for growth and development. 

From the collaboration between both big and small companies, start-ups, and academia to boosting innovation and digitalisation, Manchester provides exceptional links with a strong promise of progression. The city is also attracting immense talents seeking education and employment.

Manchester is a resilient city and a continuously growing hub of opportunities offering our company a compelling mixture of resources, opportunities, and creativity to pursue our company’s journey in this city.”

Analysis of the year by MIDAS has shown a £180m GVA (gross value added) economic contribution for the projects successfully closed during 2022⁴, and this is purely linked to the jobs created, with the positive impact of any additional capital investment by the companies a further boost to the regional economy.