Midas helps create 3,000 new jobs

Manchester's inward investment agency Midas has released its end-of-year figures, which showed the agency had exceeded targets in the 2010-2011 financial year and helped create 3,182 new jobs across Greater Manchester.

Midas said it helped to safeguard a further 1,521 existing jobs, bringing the total number of jobs created and safeguarded to 4,703.

Compared to 2009-2010 figures, Midas helped safeguard 1,350 jobs and created 3,609 new jobs.

The jobs created in 2010-2011 were through the handling of 77 projects of which 34 were investments from foreign markets including US, Europe, India and the Middle East.

In 2009-2010 the total number of projects was 94, which was an increase of 13% on the 2008-2009 figures of 83 projects.

Midas said it targets sectors including advanced engineering, large customer contact centres, energy and environment, financial and professional, life sciences and bio medical, and logistics and supply chain operators among others.

Angie Robinson, chief executive of Midas, said: "I'm delighted with the results Midas has achieved in 2010-2011. Despite a particularly difficult business environment, we have achieved, and indeed exceeded, our targets for the year. We've successfully attracted global investors including Etihad, BskyB, Camwood, Fine Lady Bakery and Royal Bank of Scotland – the first investment banking project into Greater Manchester.

"On the back of a severe economic downturn, investors have been more cautious about making location choices and have had to ensure that decisions taken are the most cost-effective for their business. Initiatives such as 'Hello Manchester' – which offers a low-risk route market for small businesses – have helped us to demonstrate that Manchester can meet the financial requirements as well as offering access to a significant talent pool and excellent connectivity to market.

"Looking ahead, Midas has set itself ambitious targets for the coming year. The changes to the public sector landscape have seen a national contractor appointed to deliver inward investment UK wide and work with agencies on the ground, such as Midas. Midas will remain the key point of contact for FDI delivery in Greater Manchester and we are increasing efforts even further to attract investors into the area, particularly from target overseas markets and in sectors with high growth potential.

"There are some very exciting developments being brought forward including Media City UK and the Airport City enterprise zone which add weight to the local offer and allow midas to work with partners to position Manchester on the global stage."

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