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Old February 28th, 2006, 07:56 PM   #1
neil
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Manchester's Economy (updates)

I think we should have a thread on Manchester's economy, as we are the second largerst city economy in Britain. I have been meaning to do a thread for a while, but never found anything to start it of with. I think this will do to start.

This was from the Manchester Evening News tonight:

WEATHER MAP IS LOOKING BRIGHT

THE outlook for commerical property in Manchester looks bright, according to the findings of the Lambert Smith Hampton "Weather Map" report, published today.
Prime retail rents in the city are set to rise by five per cent over the next year from £300 to £315 a sq ft.
Prime rents in the industrial sector are likely to rise by just under five per cent - increasing from £5 a sq ft. to £5.50 a sq ft over the next 12 months while the office sector is forecast to remain stable at £28 a sq ft.
The weather map is a new piece of research based on the data from its 27 offices.
Peter Skelton, head of Lambert Smith Hampton's Manchester office, said: "Outlook on all formats is encouraging for all sectors. Manchester was the only UK city to achieve major inward investment in 2005. With the promotion of the city by MIDAS, the council and airport in Europe and the US we will enhance our reputation as an destination for business, leisure and tourism."

Last edited by neil; February 28th, 2006 at 08:17 PM. Reason: spelling
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Old February 28th, 2006, 08:31 PM   #2
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This has good potential for an info thread. All we need are the stat-men and bean-counters to contribute. In the form of graphs, forecasts, lists, comparisons etc. Let's hope it happens.
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Old March 1st, 2006, 10:58 PM   #3
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An couple of economics questions

What does this 'biggest city economy outside London' tag actually mean? Is it just marketing crap?

What areas does Manchester have the potential to become an economic global specialist in in the next 25 years? And I don't mean Law, finance, media, as they're quite common and will always have their major centres elsewhere, but which areas of current development could make Manchester a leading player, and what will the city have to do to get there?

Just to give the beancounters something to think about.
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Old March 2nd, 2006, 01:16 AM   #4
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Interesting site:

http://www.gmep.org.uk/ccm/content/a...6AB52FFC0BAC32
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Old March 2nd, 2006, 01:22 AM   #5
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http://www.nwriu.co.uk/greatermanchester.asp

another interesting site
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Old March 22nd, 2006, 11:12 AM   #6
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Manchester number 2

Out of the Manchester Evening News last night.

City No 2 for investment.

Manchester is the most popular commercial property investment location outside London.
A new report from Lambert Smith Hampton reveals that transactions in the city totalled £1.1bn in 2005. This accounted for almost half the total property investment in the north west.
Total investment in UK property was £58.4bn in 2005-the highest on record.
The north west saw a 40 per cent increase in activity levels from the previous year, dominated by the retail sector, where activity was up by almost 90 per cent on the previous year. The major increase arose in the shopping centre and retail warehouse sectors, which both saw transaction levels double.
Key transactions included the largest of the year, Capital Shopping Centres, purchase of a 50 per cent stake in the Arndale Centre, Manchester, from Prudential for £306m.
Scottish Widows bought Mill Gate Shopping Centre in Bury for £140m, while Norwich Union paid £67m for The Triangle in Manchester city centre.
The largest industrial transaction was Moorfield Real Estate Finance's acquisition of Heywood Distribution Park for £158m.
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Old March 22nd, 2006, 12:12 PM   #7
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International Business Survey

In the Manchester Evening News last night

Greater Manchester furthers its Oriental connections

MANCHESTER'S international business is booming.
The city is selling its professional services overseas at the same time as foreign investors are pouring money into the region's economy.
Although North American investors have always lead the way in the north west, as throughout the UK, the city's cheerleaders say that Far Eastern companies are now heading for Manchester in greater numbers than ever before.
Simultaneously the city's lawyers, accountants and surveyors are selling their expert professional services to a growing European market.
There are over 60 companies in the north west who have invested here from Hong Kong, China and Taiwan, says MIDAS, the Manchester inward investment agency.
Clair Freeman, business sector manager at MIDAS, said: "These companies are varying sizes in a variety of sectors but the majority are in the electronics, medical or computing sectors, Most of these companies have invested in the UK to access the UK market but also the other country markets in Europe and as such are trading with these other countries from their UK base.
"We're looking to attract investment in areas that match the city's business and academic strenghts. We're also been focusing on China and Taiwan and we are seeing more investment coming out of those countries."
Leading the way is the Sinoventures centre at the Manchester Science Park. Today seven growing Far Eastern businesses are working from the centre, which has been open for one year.
"Sinoventures is about making it easier for smaller Chinese companies who need a helping hand. But we're also seeing Chinese import/export businesses, textile companies and in one case a stetionery company come into the region," said Freeman.
In a separate move a chinese luggage business is moving into Cheetham Hill, whilst Sing Song supermarket chain is to open for bsiness in Salford.
"Until now Manchester businesses have invested in China, but now that's changing and we're starting to see Chinese businesses invest here. We're seeing their skills and knoledge coming back, often in partnerships with local companies. Many of these companies have saturated their home market and recognise that if they're going to grow they need to come to the UK, and when they look at the UK they consider London and Manchester."
But Manchester businesses are continuing to sell their services overseas. The sector that has perhaps most exploited an increase in international trade is Manchester financial and professional service industry.
John Barnacle, chief executive of pro Manchester, the city's professional services organisation, said: "It has also bcome quite apparent over the past 12 months just how interested business communities in different countries are in Manchester's advisory market.
"In the past four months alone, we have hosted business delegations from Australia, Switzerland, Korea China, Greece and Saudi Arabia, all of whom are interested in using the skills of Manchester's professionals.
"The potential to provide professional services to clients overseas is certainly far greater now than it ever has been with opportunities arising in countries as diverse as Korea, China, Russia, the Ukraine and India. In addition to this, the assistance that is available in terms of proessional advise and financial support is also munch more advanced with many regional firms having skills that are in demand internationally."
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Old March 22nd, 2006, 04:18 PM   #8
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I think Manchester needs to offer a truely specialist service industry that it can sell to the growing economies of Asia.

If Manchester can exploit the growing masses of middle class Chinese and Indians by offering some sort of service based industry that it internationally excels in, then quids in!

With manufacturing currently going down the pan, the country has never been more dependent on the service industries (and hence why the city of London shows growth above the national average).
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Old April 20th, 2006, 09:22 PM   #9
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Interesting little article. Didnt know Nike were based in Salford Quays either.

Quote:
TSK Group - Offices Development - Frankfurt, Germany, Banstlle Nike

Date: 19 Apr 2006

Global sportswear brand Nike has sought out Manchester expertise for the redevelopment of its high-profile offices in Frankfurt, Germany. Nike has assigned workplace environment specialist The TSK Group, based in Salford Quays, to design and deliver a new interior environment for its German headquarters ahead of the World Cup this summer.

TSK began work in Frankfurt on March 20th, with completion expected before the World Cup trophy is handed to the winners on July 9th. It is unusual for TSK to operate outside the UK, but the work is being carried out in Frankfurt at the special request of Nike management, following the success of the environment solution developed by TSK for the sportswear giant's Manchester offices last year.

Andy Burke, Director at The TSK Group commented: "We are very proud to have been selected by Nike to work with them again in Frankfurt. We do not usually work outside the British Isles, but Nike's direct request that we deliver the environment in Germany is a huge compliment, and testament to the quality of the work we did for them in Manchester at the Digital World Centre."

"The environment being developed for Nike in Frankfurt promises to be just as impressive as the Manchester office, and we are confident that our good working relationship with Nike will continue well into the future." He added.

Having also worked with other high-profile clients such as the BBC, PricewaterhouseCoopers and Sony in the past, TSK has become one of the foremost workplace environment specialists in the country - drawing the attention of the workplace environments industry away from London and towards the North West. Frankfurt is the city in which England will play their first group match in the World Cup Finals on June 10th, and with any luck, TSK won't be the only English team toasting success in Germany this summer.
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Old April 20th, 2006, 09:27 PM   #10
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Nike arent! The TSK Group however, are !
Wake up Sleepy!
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Old April 20th, 2006, 09:32 PM   #11
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Sounds like they both are.

Quote:
It is unusual for TSK to operate outside the UK, but the work is being carried out in Frankfurt at the special request of Nike management, following the success of the environment solution developed by TSK for the sportswear giant's Manchester offices last year.

Andy Burke, Director at The TSK Group commented: "We are very proud to have been selected by Nike to work with them again in Frankfurt. We do not usually work outside the British Isles, but Nike's direct request that we deliver the environment in Germany is a huge compliment, and testament to the quality of the work we did for them in Manchester at the Digital World Centre."
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Old April 20th, 2006, 09:37 PM   #12
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You may be Sleepy but at least you are not Stoopid like me!
Do you know what even think ive noticed that Nike were in the DWC aswell when wandering past!
What a moomin!
Humble apologies O Great Sleepy One!
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Old April 20th, 2006, 11:52 PM   #13
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Salford company selling "work place envirnonment expertise" to the Germans. Great stuff ! Just shows how we've changed from a manufacturing region to a servce provider - got this vision of some Salford scally deliberating to some professional in Frankfurt on the qualiity and robustness of different door locking systems.
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Old May 15th, 2006, 09:50 PM   #14
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In tonights Manchester Evening News

NW leads economy

Economic output in the north west is at its hightest rate for nine years and the region is setting the pace in the UK economy.
April's PMI Business Survey, for the Royal Bank of Scotland (RBS), found that the north west economy had overtaken the south east. Only London is out-performing the area, and then only marginally.
The report indicated that private sector growth in the region accelerated to a rapid pace at the start of the second quarter, with service sector business activity growing at a sharper rate than manufacturing output.
A marked increase in employment opportunities drove the upturn in business activity in April, growth of incoming new business was at its sharpest for two years and order growth was broad-based across manufacturing and services.
RBS senior economist, Garth Claase, said: "The truly impressive thing is that this performance is being attained despite the rising cost of fuels and other input commodities, which one would normally expect to put the brakes on economic expansion.
"That output is expanding without a large increase in employment indicates improved productivity in the area. Higher productivity generally translates to higher living standards."
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Old May 15th, 2006, 11:34 PM   #15
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"Economic output in the north west is at its hightest rate for nine years"

That can't be right!
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Old May 23rd, 2006, 08:32 PM   #16
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Quote:
Business incubator hatches Chinese investment

A pioneering ‘business incubator’ which helps international businesses set up in Manchester will be officially opened this Wednesday, May 17.

The Sino-Ventures project, based at Manchester Science Park, provides accommodation and support for science and high-tech firms – predominantly from China - who are looking to invest in the city.

Once they have spent a year based in the incubator, the aim is for them to expand to larger premises in the Science Park or elsewhere in the city. The unit, which has six offices plus four ‘hot desks’ has proved remarkably popular and is at full capacity.

Trailblazing businesses moved into the incubator in April last year and the first is about to move to Enterprise House in the Science Park. In its opening year, the project has worked with around 60 companies and many of these are themselves expected to move into the incubator unit in the next two years.

Deputy City Council Leader Val Stevens and Miao Wei, General Secretary of the Wuhan Communist Party, will perform the opening ceremony at Kilburn House, Manchester Science Park in Lloyd Street North at 4.30pm.

Companies from Wuhan are strongly represented in the unit. Occupants in its first year included Wuhan Shenji, a company involved in smart card technology, silicone coating firm WD Silicone and industrial electronics outfit G-Way.

The opening comes as Manchester and Wuhan, the biggest city in central China, celebrate the 20th anniversary of their sister city relationship. A high-level delegation from Wuhan is in Manchester as part of the celebrations, which include the signing of a new five-year agreement refreshing the friendship arrangement.

Deputy City Council leader Val Stevens, lead member for international activity, said: "Manchester is building a reputation as a world class location for business and Sino-Ventures is a prime example of the innovative ways we are encouraging people to work with us. Not only has the business incubator made a great start, it also has enormous future potential as we have a pipeline of other businesses eager to take part.

"Our link with Wuhan is a particularly important part of its success story and the incubator is a compelling demonstration of how our friendship can bring meaningful benefits to both sides."

Companies are based in the incubator unit for up to one year, with the first three months of occupancy rent-free. They receive access to a range of business support and technical services with the aim of moving them into larger premises on the Science Park or elsewhere in Manchester once their time in the incubator is over.

Manchester is one of only two centres in the UK (Cambridge is the other) with the endorsement of the Chinese government for the establishment of such a facility.

The incubator unit has six offices and four hot desk spaces for companies. Trial Forms, a Swedish clinical trials business, will this month become the first company to move from the incubator unit to a new permanent base in the Science Park.

..
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Old May 28th, 2006, 12:31 AM   #17
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Dont know if this has been posted on here before but interesting nonethless
http://www.manchester-enterprises.co...ails.asp?ID=23
Check the last paragraph.
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Old May 28th, 2006, 12:48 AM   #18
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Quote:
Originally Posted by eccles cake
Dont know if this has been posted on here before but interesting nonethless
http://www.manchester-enterprises.co...ails.asp?ID=23
Check the last paragraph.
Cheers Eccles.
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Old May 28th, 2006, 05:47 PM   #19
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The last paragraph - the most horrible, misleading and self congratulatory bull shit I've heard all week. And people wonder why our scouse brothers and sister have a chip on their shoulders about Manchester.

The sort of PR spin that gives statisticians their undeserved bad name.

Essentially they are telling us the GM city region (population according to the article 'over 3m') has a higher GDP than the cities of Leeds (aprox. population 715k), Liverpool (440k) and Sheffield (515k).

Well Whoopie-doo!

I'd be seriously worried if a group of 3m people had a lower total GDP than a group of 1.7m people.

Just wondering if the boys and girls at ME ifhave finished patting themselves on the back now. If so, could they get back to the task in hand please?
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Old May 28th, 2006, 07:24 PM   #20
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Yes its a bit dodgy.... it was written by Manchester Enterprises so they have a vested interest in the regions growth. Can anyone work out what the table would look like if you included Merseyside under Liverpool, and West Yorkshire under Leeds.... that might make a bit more sense, or at least give a sense of balance.
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