Property and construction firms including Laing O'Rourke, Lend Lease, Wates Construction and GB Building have signed up to sponsor the second Manchester Day celebrations on Sunday 19 June.
This year's carnival will be themed the Voyage of Discovery and is more than 50% funded by private companies.
John Shannon, Northern business unit manager for Wates, said: "As a Manchester-based construction company, Wates has been fortunate to work on some of the city's most iconic buildings, such as the multi-award winning People's History Museum, Murrays Mills and currently the Alan Gilbert Learning Commons Building for the University of Manchester.
"However, it's important to recognise that the city is not just great because of its buildings. The combination of its unique, vibrant culture and its people, past and present, have created a city of which we should all be very proud, and for this reason, Wates is delighted to sponsor the Manchester Day Parade."
Other backers include founding sponsor Siemens, the Co-operative Group and Manchester Airport.
Cllr Pat Karney, chairman of Manchester Day, said: "In our first year the Manchester Day Parade surpassed all expectations and set the foundation for a fantastic annual event in the city.
"This year will be another world-class event. This celebration is not only a great day out for all the family, and a good way to celebrate Father's Day, but generates a massive economic benefit for city centre businesses. Last year, it was worth £4.1m to them."
The Manchester Day parade will be produced by the arts events company Walk the Plank. The company is working with 80 community groups on creations that celebrate the city, its journey from village to 21st century world-class city alongside more personal journeys of discovery as well as achievements in sport, music and science all of which have helped Manchester emerge as one of the world's most iconic cities.