It’s no secret that the Manchester city region is a powerhouse when it comes to the digital and tech sector – it is believed that the sector contributes around £4.1bn to Manchester’s regional economy and employs around 70,000 people. These impressive figures could be credited to the government’s determination to transform Manchester into a digitally connected region. In 2017, the region was announced as one of the five areas in the UK to receive full-fibre broadband under a government pilot scheme and Manchester was also one of the first cities to have 5G rolled out earlier this year – making the Manchester city region one of the most well-connected regions in the UK.
With this in mind, it’s easy to see why a number of tech firms are eager to set up offices in the region. The growth of fibre optic broadband in Manchester has made it easier for companies to build critical business applications with a secure and reliable connection. It also makes it easier to create new jobs at a faster rate – with the digital sector now creating jobs in the North of England ten times faster than those in non-digital sectors and productivity also growing four times faster.
The Chinese telecommunications giant Huawei is the latest tech company to bring their business to Greater Manchester. The firm have plans to open their new offices in MediaCityUK – which is arguably the heart of Manchester’s digital and tech scene – and will initially bring 50 jobs into the area, which will include roles in customer accounts, design and operations. The company intends to drive innovation, health and prosperity to the area, strengthening its appeal even further for new residents and investors.
This new prosperity for Manchester and the North West region has not gone unnoticed by investors either. According to a study commissioned by the finance specialist Together, the North of England has been earmarked as the next property development hotspot, with 42% of those surveyed saying that they see the best development opportunities in the North West. This should come as no surprise; Thanks to the region’s growth digital sector, young professionals have been relocating to the area in their droves and creating a strain on the local housing supply. As a result of this, Manchester is now home to around 21 new residential developments that are now in construction and many more are in the pipeline. It’s clear that many developers are excited about Manchester and the surrounding areas.