Manchester Independent Economic Review

Manchester Independent Economic Review (MIER)

Salford is playing a key part in the Manchester economy at the centre of the Manchester City Region. The Manchester Independent Economic Review (MIER) is the first independent study undertaken by a city region in Europe that will look at the Manchester economy as a cohesive whole. The Review comprises seven reports and will provide a fresh economic narrative which will both inform and raise the level of debate regarding the economic future of the Manchester City Region.

All partners across the North West, and in particular the 10 local Greater Manchester districts, have bought in to building a successful Manchester City Region based on long term sustainable economic growth. Each of the ten districts will experience more economic growth if the right policies are developed and implemented in close coordination. There are economic advantages from collaboration through establishing a shared model of future development across the city region and a shared consensus on future investment priorities.

Deprived Communities Need Change in Policy to Tackle Economic and Social Challenges

The third report from the Manchester Independent Economic Review (MIER) is published today.

The report, Sustainable Communities, provides an detailed economic analysis of the individual neighbourhoods that collectively make-up Manchester’s economic geography, and the forces that have driven their changing fortunes over recent years.

The report finds;

·in recent years, the majority of deprived neighbourhoods have improved in absolute terms, though many with the highest worklessness have failed to keep up with the overall average change.

·where there are numerous concentrations of considerable deprivation, these areas in demonstrate persistently high levels of extreme worklessness; commonly in excess of 75% above the Greater Manchester average.

·a unique and innovative typology for categorising deprived neighbourhoods that fall within the worst fifth in terms of the Index of Multiple Deprivation; significantly it finds that:

oGreater Manchester has a significant number of ‘isolate’ neighbourhoods, which are neighbourhoods whose households move between areas of similar or greater deprivation.

·there are particular concentrations of ‘improvers’ adjacent to Manchester city centre, Salford and a ‘southern arc’ comprising of Stockport, Tameside and Trafford; with ‘decliners’ particularly concentrated in south Manchester

·The report also highlights the importance of education and skills, as well as linkages to the jobs market and housing tenure. Policy interventions could ensure that all areas of the conurbation have the opportunity to share in the proceeds of long-term growth.

Manchester city-region economy transformed in a generation

The second of the seven reports from the Manchester Independent Economic Review (MIER) has been published on the Wednesday 4 March 2009.

The report, Understanding Labour Markets, Skills and Talent, provides an in-depth assessment of Manchester’s labour markets and the forces that have driven its dramatic change over the past two decades.

The report has found that;

·the city-region’s economy has been transformed over the last 25 years, with more of its population employed in the knowledge based industries of financial and business services than ever before (120% increase since 1981);
·for most sectors, Manchester has a greater proportion of its workforce employed in knowledge based industries, than in other regional UK cities;
·employment in knowledge based industries has had an impact across the city-region, although the central and southern areas have benefitted more, as a greater level of highly-skilled workers reside there;
·the report reveals the city-region regularly out-performs its competitor cities with regards to offering high-skilled jobs and retaining and providing the talent required to fill those jobs;

However…

·Manchester’s performance in terms of highly skilled jobs and people is not matched by its productivity performance. This is due to the fact that productivity of the most skilled workers depends on the skills and productivity of those around them, and there are relatively high levels of people lacking qualifications within the workforce as a whole.

The first of seven reports published was – Growing inward and indigenous investment - and it was published on Friday 6 February 2009.

The MIER is the first independent economic review of a city region to be undertaken in Europe.

This report provides a better understanding of the importance of foreign direct investment (FDI) within all parts of the Manchester economy, as well as a better understanding of the links between sectors, in terms of both direct and indirect benefits of investment.

The report highlights that:

Investment by foreign firms in Manchester, in contrast to the rest of the UK, does not ‘crowd out’ or displace jobs and investment by domestic firms
Manchester is one of the best placed cities in the UK to match the economic strength of London and South East
Manchester has the second largest concentration of people and businesses with a highly skilled, lower cost workforce
Large businesses within the region are Manchester’s main source of investment and productivity
Strong governance and targeted international relationships are vital to Manchester’s position in attracting global investment

Please use the following link to read the article from Ben Rooth 'City will be strong er after slump' in the Manchester Evening News:

http://www.manchestereveningnews.co.uk/news/business/s/1095168_city_will_be_stronger_after_slump

For more details on the MIER, or any of its seven projects, please visit the MIER website www.manchester-review.org.uk or contact the MIER Secretariat at info@manchester-review.org.uk or contact Justin Bentham on 0161 922 3346 or justin.bentham@salford.gov.uk.