Manchester - Overview:
Manchester is situated on the river Irwell and is one of the largest cities in the North West, with a population of approximately 450,000. It is famous as the birthplace of the industrial revolution and became prosperous during the 19th century on the back of the cotton trade. Since then the city has suffered several hardships. It was badly damaged during the Second World War and by the 1980 its economy, at the time still largely based on the manufacturing industry, was suffering greatly. About 60 per cent of the working population left the area as warehouses and factories were closed. Today, the city has reinvented itself and, while manufacturing is still important, Manchester is now one of the UK's most important commercial and financial centres.

The city's international profile has recently benefited from playing host to the 2002 Commonwealth Games. The economic impact of hosting the games has been immense, helping to accelerate urban regeneration, bringing millions in capital investment, attracting visitors, creating employment opportunities and developing business contacts through organisations such as the Commonwealth Games Business Club.

Economy:
According to a survey published by the wealth management arm of Barclays, Manchester is the 14th largest wealth-producing city in Europe, with an estimated GDP of nearly ?34 billion in 2001.

The service sector is the city's main employer with over half the working population employed in public administration, health and education, banking and financial services or the tourist industry. Manchester is home to more than 60 banking institutions making it one of the largest banking and financial centres in Europe, with in excess of 15,000 people employed in this sector. Professional and technical services such as legal, accounting and management consultancies employ a further 45,000 people. The tourist industry is thriving, boosted by the hosting of the Commonwealth Games 2002 and, according to Manchester City Council, the city attracts some 17 million visitors every year.

The city's manufacturing industry employs in the region of 250,000 people. Furthermore, the Industrial Rent Survey published by ATIS REAL Weatheralls in summer 2002, indicates that Manchester is one of the UK's fastest growing industrial locations. The industrial estate at Trafford Park is home to more than 1,300 companies and is one of Europe's fastest growing business locations.

Local Infrastructure:
Manchester is located centrally in the UK, almost equidistant from the capital cities of London and Edinburgh. It has excellent transport links and the city was ranked first in the UK for accessibility in a report by OMIS Research carried out in 2002.

Manchester's Airport is the third largest in the UK and offers direct flights to over 175 destinations worldwide including several major cities in the USA and the Far East and all major cities in Europe. The Airport's World Freight Terminal handles over 115,000 tonnes of cargo per annum. Work is currently underway to enhance facilities and public transport connections to the airport with new bus and coach stations, satellite check-in areas, a six-story office block and a tunnel link to the Metrolink extension.

There are regular passenger train services to all major cities in the UK, with trains to London departing hourly. The Euroterminal at Trafford Park provides road-rail services to Europe via the Channel Tunnel and most major European destinations are within two days of the city by rail. Manchester's main railway station is Manchester Piccadilly. It offers connections to all major UK business centres and journey time to London is around three hours.

The city is linked with the Irish Sea at Liverpool via the Manchester Ship Canal, which extends 56 kilometres from the River Mersey to Salford Dock basin. More than 8 million tonnes of cargo are moved along the canal between Manchester and Liverpool every year.

Manchester is easily accessed by road via the new M60 orbital, which links the city with the UK's motorway network. Approximately a third of the UK's population are within two hours drive time of the city.

Travel within Manchester is well provided for by an extensive bus network and the city's Metrolink trams. The Metrolink carries approximately 17 million passengers a year and work to extend the network is due to start in 2003. The extensions will provide routes to Manchester Airport and additional services to the city's major business parks and the key employment areas in East Manchester.

Local Workforce:
Greater Manchester has a total labour force of just under 1,190,000 and, according to the Office for National Statistics, this is expected to increase by over 18,000 between 2001 and 2006. Nearly 68 per cent of the working population are under 45 years of age and the employment rate in the county stands at nearly 71 per cent.

Much of the workforce is educated to a high level with the areas four universities; the Institute of Science and Technology, the University of Manchester, Manchester Metropolitan University and Salford University, giving a combined student population of more than 78,000.

Standard of Living:
In terms of entertainment, Manchester is an excellent place to live. It has the highest concentration of theatres in the UK outside London, numerous art galleries and museums and is home to one of the finest classical concert halls in the country. The city is also surrounded by beautiful countryside and is a short distance from the Peak District National Park.

Business Costs:
A survey conducted by City University Business School and Actium Consult in 2001, gave Manchester a combined office rental and rate cost of ?350.65 per annum per square metre compared with ?858.99 for the city of London, ?439.92 for Edinburgh and ?257.06 for Cardiff. According to a report published by the global real estate services company DTZ Debenham Tie Leung in 2002, prime retail space in Manchester is the most expensive in the North West region at around ?300 per square foot. The Industrial Rent Survey, published by ATIS REAL Weatheralls in summer 2002, priced industrial space in Manchester at ?5.25 per square foot.