The latest IBM Global Business Services report has placed Manchester in the top 20 global cities for attracting inward investors.
The list is based on the number of inward investment projects completed in 2008. Manchester beat Frankfurt, Dublin and Chicago, which was welcome news for Colin Sinclair, head of Midas, the city's inward investment agency. Sinclair said: "We are obviously delighted to see Manchester ranked in the top 20 global cities in this highly respected investment report.
"There can be no doubt the 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 to name but a few. Our figures for 2009/10 could well be a record, incredible considering the state of the economy."
He continued: "But as we look to the future and launch of the new MIDAS business plan we know we have great challenges ahead. 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 and respond quickly and efficiently wherever opportunity presents itself.
"We are bringing in more business development managers to attract more investors and work even more closely with those internationally-facing companies in Manchester most likely to expand, through our foreign owned company engagement programme.
"We will also continue to drive the global marketing of Manchester as a business location to attract new investment and promote Manchester's position as Europe's number one location for shared service and customer contact centres as demonstrated by our success with recent Sainsbury's, Marks and Spencer, John Lewis and US-owned SPX.
"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 and we will continue to work extremely closely with our partners including the ten local authorities of Greater Manchester and the Northwest Regional Development Agency to improve the Manchester offer to meet the needs of innovative business and global investors."
Cllr Sir Richard Leese, leader of Manchester City Council, added: "This report shows that Manchester continues to advance as a world-class place to invest in business and create jobs. While we are certainly not immune from the current recession, this is further evidence that our economy remains strong and well-placed to thrive. The report backs up the findings of last year's Manchester Independent Economic Review which concluded that Manchester city region was the best placed outside London to increase its growth, and this week's Centre for Cities report which argued that Manchester has a critical role to play in national economic recovery."