Councils running investment agency

Midas was originally run by the Commission for the New Economy - the City of Manchester's regional development agency formerly known as Manchester Enterprises.

But ownership of the organisation has now passed to the Association of Greater Manchester Authorities (AGMA) - a partnership between the 10 local authorities within the Greater Manchester area.

The change in ownership reflects our total commitment to working with the local authorities to secure further investment and employment for the city region

Colin Sinclair

Chief Executive

Midas

Midas, rated in the top 10 investment agencies in the world by the latest GDP Global Development-IPA benchmarking programme, is an inward investment agency for Manchester that aims to secure significant levels of new investment and employment for the city region.

The agency offers relocation support, assistance in finding work space, and advice on recruitment and training to national and international companies wishing to relocate to Manchester.

Colin Sinclair, Chief Executive of Midas, said: "The change in ownership reflects our total commitment to working with the local authorities to secure further investment and employment for the city region.

The Manchester city region is home to over 2,000 foreign-owned companies, including Adidas, AIG, Bank of New York Mellon and Google.

The councils are represented on the board of Midas, which is chaired by Bruntwood Chairman Michael Oglesby and has strong private sector representation from senior staff from Tesco, KPMG, The Co-operative Financial Services and the Manchester Evening News.

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