New owner for MIDAS

The ownership of Manchester investment and development agency MIDAS has been switched to help boost the city region's external appeal.

MIDAS is now formally owned by the Association of Greater Manchester Authorities (AGMA), the body that represents the ten local authorities of the area – Bolton, Bury, Manchester, Oldham, Rochdale, Salford, Stockport, Tameside, Trafford and Wigan – after being relinquished by the Commission for the New Economy (formerly Manchester Enterprises).

The ten local authorities are said to be behind the move, which MIDAS hopes will attract more businesses and employment to the city region.

The North West Regional Development Agency will continue to fund MIDAS.