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MIDAS Partnership Q1 Report FY19/20
UK Inward Investment Overview EY released its annual foreign direct investment (FDI) report for the UK in Q1. It found that during 2018, the UK retained its number one position in Europe for FDI projects, despite a 13% decline in the overall number of projects attracted. France increased its number of projects secured by 1%, putting it in second place ahead of Germany, where projects also fell by 13%.
Manchester is still the number one location for FDI
outside of London, a status the city has retained
for four consecutive years, with Birmingham in
third having 40% less FDI projects than
Manchester. The report also found that 5% of
investors have reduced investment in the UK as a
result of Brexit, whilst 15% of investors have put at
least one project on hold, up 8% on the previous
year; which appears to explain the fall in overall FDI
projects in the UK.
The 2018 figures revealed a fall in HQ projects
entering the UK from 95 to 48, a decline of
almost 50% compared to a decline of only 20%
in Europe. R&D projects were also down by 17%
across Europe to 74 projects. The UK’s market
share of R&D projects has fallen from 26% in
2015 to 12% in 2018. Sales and marketing
projects fell slightly by 4% in the UK, which was
lower than the 11% seen across Europe. This
suggests the UK is attracting these types of
projects in preparation for Brexit.
Greater Manchester’s Key Sectors
Advanced
Manufacturing
Creative, Digital and
Technology
Financial, Professional
and Business Services
Life Science and
Healthcare
Stronger Together:
Delivery Against Objectives
SELECTED Q1 SUCCESSES
1. To increase high value and capital investment in Greater Manchester
25 jobs
City Centre
100 jobs
Peter House
200 jobs Middleton
30 jobs
Piccadilly House 60 jobs
Salford Quays
150 jobs
City Centre
CASE STUDY
that it can better serve from this location. The firm
also recognises that it can access potential new
clients by having a base in Manchester.
BAE Systems Applied Intelligence helps nations,
governments and businesses around the world
defend themselves against cyber-crime, reduce
their risk in the connected world, comply with
regulation and transform their operations.
The Manchester office will initially hold 150
employees. The division employs over 4,000
people across 18 countries globally.
Function: Tech Centre
Jobs Created: 150
Location: City Centre
CASE STUDY
Slalom, the modern consulting firm focused on
strategy, technology, and business transformation,
has chosen Manchester as the location for its second
UK office. The company will take temporary space at
Peter House whilst they look for a permanent
Function: Regional Office
Jobs Created: 100 by 2022, 250 by 2025
Location: Peter House, Manchester
BAE Systems Applied Intelligence division chose
Manchester due to the breadth and diversity of the
talent pool, the academic strengths in information
security and computer science. The company also
has several existing clients based in the city region
location, with the aim of growing to 250 staff by
2025.
The client said: “With the support from MIDAS we
were able to accelerate our timeline to invest in
Manchester, and I believe thanks to their support,
we now have a greater chance of success. MIDAS
hosted senior figures on separate visits which
resulted in commitment of investment and
increased excitement around Slalom's expansion in
the UK. MIDAS has always been open and accessible
- a credit to the investment made by the Greater
Manchester authorities.”
Quarter 1 FY19
12 442 £34.2M 118
successes jobs created GVA projects added
Quarter 1 FY20
16 717 £45.4m 109
successes jobs created GVA projects added
Growth versus Q1 FY19
+62% +33% +40% -8%
HEADLINE BUSINESS DEVELOPMENT PERFORMANCE
1. To increase high value and capital investment in Greater Manchester (cont.)
Q1 PERFORMANCE OVERVIEW
Following MIDAS’ record-breaking year in 2018/19,
there has been a strong start to the new year with 717
jobs created across 16 projects in Q1; both figures are
the highest for a first quarter since 2015/16. BAE
systems opened a new office in the city centre,
creating 150 jobs, whilst US consultancy Slalom also
announced a location in the city region that will create
100 jobs.
At Q1 end, the pipeline has 665 live enquiries
potentially creating 17,592 new jobs, of which 70 are
forecast to land successfully this financial year, taking
our end of year successes figure close to 90. The
creative, digital and technology sector is expected to
be the strongest performer again in terms of project
successes, however the financial, professional and
business services sector is currently forecast to, albeit
In Q1, more than
any other market
Beating Bristol,
Birmingham and Reading
The highest figure for
any Q1 on record
13 2 NEW INDIAN
ENQUIRIES
MOBILE DIGITAL
PROJECTS WON IN Q1
HIGH VALUE
JOBS CREATED 662
narrowly, reclaim its position as the largest source
of new job creation. This is driven mostly by
financial services with banking and FinTech the
most notable sub-sectors.
MIDAS met with 77 account managed companies
in Q1, producing 14 new enquiries worth a potential
835 new jobs; eight of which these enquiries were
from companies originating from an EU nation. A
trend since the referendum has been that whilst
new investment from the EU is down, companies
with an existing UK footprint have been more
active, looking to consolidate or grow their existing
operations.
Q1 (Apr – Jun) Q2 (Jul – Sep) Q3 (Oct – Dec) Q4 (Jan – Mar)
London Technology Week Materials roadshow/CAMX,
Seattle and Anaheim
Generis American Medical
Device Summit and
Roadshow, Boston
NASSCOM, Mumbai
Money2020 Europe,
Amsterdam BlackHat Europe, London
American Medical Device
Summit, Chicago
JECWorld, Paris
Composites
Health Innovation Week,
Toronto China Football Tour
India Graphene
Roadshow/Mayoral visit to
India
India v Pakistan Cricket
India Business Summit,
Manchester
GM Development
Conference
Information Security North
America, East Coast/NYC
Graphene and 2D Materials
Europe, Berlin
Advanced
Manufacturing
Creative, Digital and
Technology
Financial, Professional
and Business Services Life Sciences Multi-sector
Marketing KPI’s Media reach Events held/attended Web visitors LinkedIn followers
Q4 FY19 3,612,570 7 20,815 4,539
Q1 FY20 2,985,108 9 17,433 4,784
MIDAS UPCOMING KEY ACTIVITY
2. To extend the global business marketing of Greater Manchester to drive more
investor interest to the city region
MIDAS UPCOMING KEY ACTIVITY
the GM Development Conference on 10 September,
expecting 300 delegates. There will be opportunity to
discuss ambitions, key projects and the strengths of
GM as an investment location. Andy Burnham will host
a roundtable and dinner with potential inward
investors the evening before the conference to share
his vision for the city region and outline support
available.
Mayoral visit to India, October:
Led by the Manchester India Partnership, Andy
Burnham will visit Mumbai, Bangalore, Mysore and
Delhi from 7-11 October to raise the profile of the GM
India Strategy. MIP will work with the Department for
International Trade and other key partners to deliver a
week of activity that showcases the best of GM in India,
focusing on themes of: sports and culture; digital;
health and life sciences; education and R&D and
tourism/connectivity. The agenda will be developed
around three key events in Mumbai, Bangalore and
Delhi that will serve as high-profile platforms to
promote the GM-India agenda.
Seattle and Anaheim, USA. September 2019:
Representatives from the Advanced Manufacturing (AM)
and Creative, Digital and Technology (CDT) teams will be
in Seattle and Anaheim from 23-26 September. The
activity is in conjunction with DIT who will host a series of
receptions that align with the Red Arrows’ tour of North
America. The AM team will also attend the BABC
Aerospace Conference and Boeing Supplier’s
Symposium to promote aerospace and automotive
opportunities in Manchester.
The CDT team will meet with key companies including
Microsoft, AWS, Slalom and Starbucks, as well as
multipliers including CBRE and Colliers. The AM team will
also attend CAMX Composites Exhibition in Anaheim
alongside Graphene @ Manchester, and will participate
in a panel session, delivering a presentation and hosting
a networking event. The AM team will also attend CAMX
Composites Exhibition in Anaheim alongside Graphene
@ Manchester to participate in a panel session, deliver a
presentation and host a networking event.
GM Development Conference, September:
MIDAS is supporting Built Environment in the planning of
3. To strengthen research, data and market analysis capabilities to drive a forensic
sales approach and increase conversion
Data City is working with Greater Manchester
Combined Authority (GMCA) and MIDAS, applying
its technology (open data, the web and machine
learning) to tap into new sources of granular data
to provide real time insight into how the economy
of Manchester is growing and changing.
By identifying strengths in specialist research areas
such as marketing, economics, information
technology, consumer behaviour, new product
development and project management, initial
analysis has found that Greater Manchester has a
global strength in service design.
This is important because service design encompasses
all the disciplines that the digital economy is using to
build the services of the future and drive the exciting
digital transformations that are happening across
industries.
The latter phase of the work will include a strategic
target list of companies in traditional industries that are
increasing their activity with digital technology. DataCity
will identify companies with emerging digital themes
such as cyber security, artificial intelligence, data,
internet of things and FinTech.
Tim Newns Chief Executive 07481 080 065 [email protected]
Sarah Mills Exec. Assistant and Project
Manager 07481 080 065 [email protected]
Andrew Toolan Head of BD – Strategic
Partnerships 07738 027 186 [email protected]
Caroline Cain Head of BD – FPBS 07738 027 261 [email protected]
Hannah Tracey Head of BD – CDT 07725 372 233 [email protected]
Catherine Davidson Head of BD – Life Sciences 07384 547 983 [email protected]
David Hilton Head of BD – Adv.
Manufacturing 07703 470 280 [email protected]
Alexandra Moorhouse Marketing Manager 07795 006 430 [email protected]
Daniel Baxter Analytics Manager 07592 108 252 [email protected]
Key Operational MIDAS Contacts
MIDAS sourced 108 new enquiries into the
pipeline in Q1, the highest since the first quarter
of last year. The number of jobs associated with
these projects is currently down slightly,
however job numbers are still unknown for
around 60% of these enquiries and will likely
increase over the coming months.
Non-EU countries accounted for 42% of all
new enquiries in Q1, which is consistent with
recent quarters. Enquiries from markets such
as Australia, Canada and India have increased
significantly since Brexit, with Turkey and Japan
emerging more recently.
The number of R&D focused enquiries
continue to increase, along with
sales/marketing and tech centres. Whilst there
is still a steady intake of HQ projects, these tend
to be from smaller foreign companies or
relocations from the rest of the United
Kingdom.
102
98
105108
3855
2447 25482106
0
1000
2000
3000
4000
5000
80
85
90
95
100
105
110
2018/19 Q2 2018/19 Q32018/19 Q4 2019/20 Q1
JOBS A
DD
ED
EN
QU
IRIE
S A
DD
ED
Recent Pipeline Intake
Enquiries Added Jobs Added
13
8
6
5
3
3
3
0 2 4 6 8 10 12 14
India
United States
Hong Kong
Turkey
Netherlands
France
Canada
Q1 FDI Enquiries by Source Market
4. To grow the international impact of Greater Manchester’s inward investment
team to increase the region’s investor pipeline