Manchester is projected to be the UK’s fastest growing city in 2024, with significant developments fueling this growth.
- 142 high-growth companies are establishing or expanding offices in Manchester and Cheshire.
- EY ITEM Club expects Manchester’s GVA to rise by 1.8% due to its focus on talent-rich sectors.
- Bruntwood SciTech invests heavily in Manchester’s innovation ecosystem, boosting workspace supply.
- Tech and life sciences sectors lead industrial growth, strengthening Manchester’s economic impact.
Manchester is on track to become the UK’s fastest growing city in 2024, bolstered by the presence of 142 high-growth businesses opening or expanding their offices and labs across Manchester and Cheshire. This influx of enterprises underscores the city’s appeal as a vital hub for innovation and expansion.
According to EY ITEM Club, Manchester is expected to experience a 1.8% increase in GVA, owing to its strategic focus on sectors rich in talent and innovation. This growth is not just a fleeting trend; projections indicate that by 2026, the region’s GVA will be £2 billion higher than its 2022 value.
Bruntwood SciTech, a key player in this growth narrative, has committed £243 million to develop new workspaces tailored to the needs of innovation-driven businesses. By enhancing Manchester’s capacity with 727,000 square feet of new workspace, Bruntwood SciTech supports the burgeoning demand from tech and R&D intensive firms.
The sectors leading Manchester’s economic enlargement include digital technology, life sciences, and fintech. In 2023, the city was home to over 300 high-growth tech companies, a figure likely to rise with the city’s ongoing development. These industries are central to Manchester’s transformation into a powerhouse of employment and innovation.
New entrants like SafetyCulture and AO.com have chosen Manchester as their base for expansion, showcasing the city’s strong pull for global firms. Meanwhile, UK Biobank’s move to Manchester Science Park emphasizes the city’s growing influence in health research and collaboration.
Bruntwood SciTech’s strategic placements such as Alderley Park offer specialized facilities and networks that foster growth and partnerships. The company has welcomed over 100 new businesses and facilitated the expansion of 35 existing ones in 2024, highlighting Manchester’s draw for ambitious firms.
Significant collaborations in Manchester’s Oxford Road Corridor, a key life sciences region, include partnerships with Manchester University NHS Foundation Trust, enhancing the synergy between healthcare innovators and academic institutions.
Industry leaders like UF Health, Apis Assay Technologies, and Gentronix are capitalizing on Manchester’s expanding infrastructure and expertise, advancing projects in diagnostics and personalized healthcare solidly placing Manchester in the global life sciences innovation map.
Bruntwood SciTech remains integral in shaping Manchester’s future as a nexus for talent and groundbreaking ideas. Their commitment to creating adaptive workspaces ensures that both startups and established enterprises can thrive in a nurturing environment.
Greg Dujon, CEO of Third Equation Ltd, highlighted the strategic benefits of locating in Manchester, lauding the city’s excellent connectivity, talent access, and infrastructure, making Manchester a straightforward choice for progressive businesses.
Manchester continues to strengthen its position as a leading growth center, attracting talent and investment alike.
