In the 12-month period to March 2019, there was huge growth in the number of businesses coming to Greater Manchester. According to MIDAS, the city’s inward investment agency, the CDT sector is booming. Companies like Amazon, Talk Talk, Jaguar Land Rover and 22 others introduced 2,056 new jobs into the area, 800 of which are in the CDT sector.
MIDAS also found that tech has created jobs in the financial, business and professional sector, accounting for 20% of the jobs created in Manchester and the life sciences sector, the most notable of which is the purpose-built genomics campus belonging to international health giant Qiagen, which will create a further 250 jobs.
According to Tim Newns, CEO of MIDAS, tech has played a huge role in attracting new investment to Manchester. He said: “Tech is driven by innovation which is created by people and therefore within that industry people are the most important commodity.”
Of course, where jobs are being created there will be an influx of new talent coming into the city. According to the Manchester-based property management specialist Urbanbubble, Manchester is going to see its core population (accounting for Central Manchester and the neighbouring wards Salford and Trafford) rise by a third to 154,000 by 2022.
Both developers and investors in the buy to let sector have caught wind of Manchester’s popularity and the city is now home to 53 new developments with 21 in construction and 32 in the planning process. Once complete, they will deliver 35,990 new homes in the city.
Of the 53 developments, 21 are towers that are 20 stories or more. This is more than similar developments in both Paris and Berlin, with 17 and 19 developments currently in progress, respectively.
According to Michael Howard, founder of Urbanbubble, the increase of developments in Manchester has cemented the city as a European hub city and with more residential developments offering amenities like swimming pools, gyms and work-from-home spaces, it will attract a more diverse market into the city.
With the city being home to talented graduates, and even more graduates flocking to the city from all over the world, there is absolutely no reason why the city’s new developments will be short of potential residents.
Mr. Newns agrees and believes that Greater Manchester has potential for even more investment in the future.
“The [Greater Manchester] region has a got a good supply of talent within tech and that’s what industry is after at the moment and our talent supply in that sector is really what is pushing us forward.”
“We sit in a city that has three major universities but within a 50-mile radius there are several more, so we can access talent from Lancaster, Liverpool and Leeds for example. By being in that central position geographically we can pull in all those different talent pools.”
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