Committee publication · Correspondence · 26 May 2026
Correspondence from MIDAS relating to 14 May 2025 evidence session on Promoting Wales for Inward Investment inquiry
From: Welsh Affairs Committee
Summary
MIDAS, Manchester's inward investment agency, provides follow-up information to the Welsh Affairs Committee following its 14 May 2025 evidence session. The letter details MIDAS's structure (35 FTE staff across four teams), funding model (£2.7m annual turnover from Greater Manchester Combined Authority, local authorities, and national government), and investor engagement approach, including an 18:1 return on investment ratio.
Key findings
- MIDAS operates as a company limited by guarantee, wholly owned by Greater Manchester Combined Authority, with 35 full-time equivalent staff across Business Development, Partnerships and Analytics, Global Market Engagement, and Place Promotion.
- Annual turnover is approximately £2.7 million, funded by the Greater Manchester Combined Authority, ten local authorities, national government grants for key account management, and limited private sector funding through the MIDAS developer partnership.
- MIDAS reports an 18:1 return on investment for every £1 of public money spent, based on independent economic impact assessment.
- Investor support model assigns dedicated lead and secondary contacts to each enquiry, with wider sector team engagement to develop tailored support packages and build lifetime investor value.
- MIDAS operates international market engagement through partnerships with Manchester China Forum, Manchester India Partnership, and Manchester Japan Steering Group, with deepening engagement in North America and Asia Pacific regions.
Tone
FactualTopics
Key actors
MIDAS (Manchester Investment and Development Agency Service Limited), Ruth Jones MP, Greater Manchester Combined Authority, Joe Manning, The Growth Company, Marketing Manchester
Notable line
“The latest independent economic impact assessment of MIDAS inward investment activity concluded an 18:1 Return on Investment for every £1 of public money.”
Key Quotes
“MIDAS is the Investment and Development Agency for Greater Manchester. Its strategic aim is to secure significant levels of new inward investment for the city region to create and safeguard jobs.”
“The latest independent economic impact assessment of MIDAS inward investment activity concluded an 18:1 Return on Investment for every £1 of public money.”
“… a key aim for MIDAS is to build lifetime investor value. Through taking a place-based approach, we treat strategic investors as partners in the city's development.”
Source · parliament.uk record ↗