The Manchester Growth Company has produced its second annual performance highlights charting its progress towards its mission of enabling growth, creating jobs and improving lives in Greater Manchester and beyond.
The highlights show that in the year 2015-16, MGC supported the creation of 15,542 jobs, placed 8,947 unemployed people into work, managed 90 inward investment projects, and supported 1,861 new business start-ups, generating £414m Gross Value Added to the economy.
MGC was created in 2013 by bringing the Manchester Solutions Group, including the Business Growth Hub, together with Marketing Manchester, and inward investment agency MIDAS. The company aims to achieve a transformation of the Greater Manchester economy, delivering on the priorities set out in the Greater Manchester Strategy.
Commenting on the performance highlights Manchester Growth Company chairman Richard Topliss, who is Managing Director in the North Region for RBS Corporate Banking said:
“This has been our second full year of operation as the Manchester Growth Company. 2015/16 has seen MGC deliver a series of strong results which is testament to the work that has gone on this year in building a cohesive and robust organisation. This work continues, with the aim of harnessing the true potential of operating as an integrated business to ensure additional growth, greater client engagement, enhanced outputs and maximised resource efficiencies.
“As well as the impressive headline performance figures, we’ve also demonstrated strong success in bidding for commercial contracts, with the Work Company securing contracts for the Skills for Employment Programme and the Working Well Extension. Meanwhile Business Finance Solutions (BFS) signed a deal with the Start Up Loans Company to manage £200m of loans nationally.”
Mark Hughes, group chief executive of the Manchester Growth Company added:
“Over the last two years our focus has been to create a robust and agile organisation, bringing together a number of companies, creating synergy and driving efficiencies. In many ways we have now achieved this, with MGC delivering activity that is truly unique in its breadth, scale and impact. As such the organisation now has the ability to provide integrated services that will drive forward economic development across Greater Manchester.”
The performance highlights document can be viewed here.