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2025 City Vision For Manchester

Manchester 2025 has been compiled by global investment firm BNY Mellon to mark its 10th anniversary in the city and forecasts how it will look in a decade’s time.

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At least 5,000 jobs a year will be created in Manchester, as it attracts ‘significant investment’ over the next decade and cements its position at the centre of the Northern Powerhouse, according to a new report released today.

Manchester 2025 has been compiled by global investment firm BNY Mellon to mark its 10th anniversary in the city and forecasts how it will look in a decade’s time.

The report considers areas such as the economy, property development, infrastructure and culture, with contributors including Manchester council chief executive Sir Howard Bernstein, UKFast founder Lawrence Jones, Mike Ingall, of Spinningfields developer Allied London and Tim Newns, chief executive of MIDAS, Manchester’s inward investment agency.

Key findings include that between now and 2025, up to 55,000 new jobs – or more than 5,000 a year – are set to be created in the city centre alone. It adds the number of people who live within an hour of Manchester is set to more than double from seven million today to 15 million in 2025 due to improved road and rail links.

The city’s population is expected to grow by 125,000 – driven by a buoyant economy, increased urbanisation and the success of the city region’s universities – meaning at least an extra 9,000 new homes a year are needed to satisfy demand and Manchester city region will be the subject of huge investment over the next decade, including Manchester Airport’s £1bn transformation project, Allied London’s £1bn St John’s and Trinity Islands developments and the £110m Factory Manchester arts complex.

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The Manchester 2025 report underlines the city’s credentials as the UK’s leading regional city and a vital hub in plans to rebalance the economy. It has already been estimated that with Manchester at the centre of the Northern Powerhouse, an extra £19.4bn of economic output (measured by gross value added) could be created by 2030.

Matt Wells, Manchester site executive at BNY Mellon, said: “After 10 years in Manchester, BNY Mellon is well-invested in the city and fully committed to being among those considering how we can ensure the momentum of recent years is continued.

“The over-arching message of Manchester 2025 is that the next decade promises much, including more jobs, large-scale investment and a city that is playing an increasingly crucial role in the future of the UK economy.

“This potential will not be fulfilled without collaboration and a huge amount of determination, but Manchester 2025 demonstrates how well-positioned the city is to become a truly global destination.”

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Sir Richard Leese, leader of Manchester council, said: “We are building for the future, as evidenced by the works taking place at the moment to improve the city’s transport infrastructure. We are pleased that this report shares our optimism for the city and wider region. BNY Mellon showed great vision as well as confidence by investing in Manchester and we welcome the major contribution they have made and continued to make to the city.”

BNY Mellon, which has grown from 50 people in 2005 to more than 1,100 people today, said the city was vital to the group’s global network, with the site split between offices in Piccadilly Gardens and Spinningfields.

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