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Manchester has more investment projects under way than cities such as Frankfurt, Dublin and Chicago, according to an IBM Global Business Services report

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8:22 am, January 20, 2010
Manchester ranked 15th in business investment league

By Michael Fahy

Manchester has been ranked as 15th in a league ranking investment activity in cities, according to a new study.

According to an IBM Global Business Services report, the city has more investment projects under way than cities such as Frankfurt, Dublin and Chicago.

It is the first time the city has been listed in the top 20 and the chief executive of Manchester's inward investment agency, MIDAS, said that his agency had scored some notable successes in attracting new investment to the region.

“Manchester City Region has enjoyed great success in attracting investment over the past five years with the further investment of the BNY Mellon, Credit Suisse, Google, Nike, Shoosmiths, Premier Foods, SAICA, UK Borders Agency and National Institute for Clinical Excellence (NICE), to name but a few.”

The agency is due to publish its latest business plan tomorrow, and Sinclair said that the agency could achieve a record year in terms of the investment brought in, which he described as “incredible considering the state of the economy”.

“The tough economic climate will continue to test our nerve but MIDAS is close to the market and we are gearing up to work even harder to attract the quality, global, investment opportunities.”

He said the agency planned to bring in more business development managers to attract more investors and to work more closely with foreign-owned businesses with a presence in the city.

“We're also pioneering new initiatives like the Manchester Business Club - a programme developed in partnership with Manchester Airport to build relations and trade, investment and air routes with five target cities including Singapore, Kuala Lumpur, Mumbai, Los Angeles and New York.”

“We will continue to work extremely closely with our partners to improve the Manchester offer to meet the needs of global investors.”

COMMENTS? mfahy@crain.com