A new Council report highlighting how key developments in the city are benefitting the city’s residents and businesses shows that the city’s future continues to look bright despite the pandemic.
Future Manchester – an economy built on people, place and prosperity details how an array of developments are continuing to power Manchester’s growth and recovery from the pandemic and translating into positive impacts for the city.
Manchester’s growth since 2000 has been spectacular, with the population increasing from 422,000 to almost 600,000. Between 2014 and 2018 alone the number of jobs based in the city increased by 17.2% (59,000) - giving Manchester the fastest employment growth of any UK city. In a similar period, 2017-2020, Manchester was able to retain the proceeds of business rates growth in the city – some £50m - and reinvest it in public services while over the last five years Council Tax income has gone up by around £6m a year due to the city’s growing population, with the money again helping support vital public services.
The key developments detailed are spread geographically from that centred on North Manchester General Hospital in the north of the city to those involving Wythenshawe Hospital and Airport City in the south but unsurprisingly the biggest concentration is in the city centre which accounts for 20% of Greater Manchester’s economic output and has seen its functional area expanded.
While many of the development projects featured are commercial rather than residential-focused, the city as a whole is on track to exceed its target of 20% of new homes being built 2015-25 being affordable.
Sir Richard Leese, Leader of Manchester City Council, said:
“The amount of investment which continues to take place in Manchester is phenomenal and demonstrates the continuing confidence in the future of the city. Manchester’s economy is in great shape to recover strongly from the Covid-19 pandemic.
“This report shows that the benefits of development for people in the city are tangible. The unparalleled investment which is taking place in the city is creating and supporting tens of thousands of jobs, building much-needed new homes across all tenures including affordable housing, creating new public spaces and facilities and bringing in increased business rates and council tax income which is being reinvested in public services.
Councillor Bev Craig, Leader Elect of Manchester City Council, said:
“What this report demonstrates in abundance is that Manchester continues to be a city where people and businesses are clamouring to be. As the report demonstrates this brings enormous opportunities but it also brings the challenge of doing all that we can to connect Manchester people with them – whether it’s getting on a career path or finding the right home.
“Many Mancunians have undoubtedly benefitted from the city’s growth. Now we have an incredibly strong platform from which we can even more to ensure that growth is as inclusive as possible and delivers the maximum social value.”
Chris Oglesby, CEO of Bruntwood and Chair of the Business Sounding Board, added:
“Manchester continues to be a magnet for investment and development, thanks to its incredibly strong talent pool, entrepreneurial spirit, and wealth of creativity and innovation. It is fantastic to see the results of this report, which reaffirm our commitment to helping the city thrive.
“Through these efforts we will be able to create a legacy of jobs for the people of Manchester, to help those at the beginning of their careers get a kick-start, provide much-needed homes to keep up with the ever-growing demand and offer increased green space to be enjoyed. It will also give opportunities for the people of Manchester to give back and be actively involved in shaping the future of their city.”
The report can be read in full at www.manchester.gov.uk/futuremanchester . It has been produced by the Council’s Growth and Development team and is intended as a snapshot of the range of ongoing and future development rather than an exhaustive summary. It will be updated in due course to include further key developments such as the new innovation district, ID Manchester.