Manchester's flagship digital media centre was worth more than £20m to the region’s economy last year – creating nearly 1,000 new jobs. The Sharp Project continues to go from strength to strength, according to a report going before councillors this week.
An update on the city’s digital vision for the future reveals the project – set up five years ago to provide cheap space for fledgling creative firms – benefits Manchester more than previously thought.
Analysis by local think-tank New Economy reveals in 2012 it created 962 jobs – the equivalent of 375 full-time posts – while contributing £21.4m to the region.
Town hall bosses hope the Newton Heath complex will be key to the city’s future – eventually making Manchester the UK’s digital capital. Last year Danny Alexander, chief secretary to the Treasury, dubbed it ‘hugely impressive’ and agreed that goal was achievable.
Now town hall bosses say the latest figures underline that point. Eddie Smith, Manchester council’s strategic director of strategic development, said: “Analysis recently undertaken using more up-to-date economic data available has indicated that the value to the Manchester economy being generated by the Sharp Project is £21.4m per year. This updated an initial analysis conducted in the autumn of 2012, using older data, which estimated the economic value as being £16.4m per year."
“Nevertheless, the creation of 375 full time jobs in the Sharp Project’s first full year of operation demonstrates the huge demand there is for this facility, and we expect 100s more to be created as it expands. Six new units that opened there recently were fully let within their first week, while international technology company Eon Reality has now opened its UK headquarters at the new One Central Park site, and a major new drama production hub at the former Fujitsu Building is expected to open early next year. Meanwhile, the SharpFutures scheme, building up links with local schools and colleges, is ensuring that the next generation of Mancunians wanting to work in this important sector will feel the benefit of the Sharp Project’s presence in the city.”
Source: Manchester Evening News
