Inward investment
In order to secure investment and jobs for the local area, the Development Corporation embarked upon an inward investment programme to attract companies to Trafford Park. Since 1987, more than 1,000 companies have either relocated to or expanded into the Trafford Park urban development area. This represents an average of two companies moving in each week since the Corporation was established.
The Corporation was one of the first organisations to establish a ‘one-stop shop’ for potential investors, with its business development team acting as a single point of contact. TPDC was able to deal with enquiries in an effective manner because it could offer sites, financial assistance, planning advice and recruitment/training packages.
Whilst headline investments from the United States and the Far East have been important, TPDC has attracted companies from all over the UK such as Robert Wiseman Dairies, Allied Mills and Asda Stores. Locally, existing Manchester companies have moved into the Park such as Manchester Tobacco Company and the Salford-based bakery WW Bellamy. These are examples of companies which could have been lost to the area had suitable sites in Trafford Park not been available.
TPDC’s inward investment strategy was initially based on strategic marketing campaigns targeting several key markets. Interest generated from these campaigns was then directed to appropriate sites taking account of the Corporation’s area-based policies, such as owner-occupiers being sought for Northbank and smaller firms and services directed to the Village.
An additional project provided market research for inward investors whereby selected potential overseas investors were provided with economic data relevant to their sectors of industry, in order to assist them with forecasting sales and sourcing suppliers, and thereby easing decision making on whether to invest in the area.
International enquiries were generated through overseas marketing programmes. In particular, TPDC secured major investments from North America, Taiwan and Japan in competition with other areas in Europe. In each case, the Corporation put together a package of financial assistance using its general powers. A flexible approach, always subject to a rigorous appraisal, combined with having professional staff available to advise potential investors and to deliver what was needed, ultimately gave Trafford Park an edge over other locations.
A notable success was the attraction of Teco Electric Europe in 1993, the first Taiwan-based company to locate into the north west. This was followed in 1997 by the move of Teco Information Systems into Trafford Park. It is hoped that future expansion of Teco’s European operations will result in further investment by the company in the Park.
One of the most strategically important of all new investments was that made by US company Photronics, the world’s leading manufacturer of photomasks for the semi-conductor industry. The success of the Corporation in attracting Photronics represents a major boost to the region as a whole, with up to 300 new jobs being created at the company’s £47 million state-of-the-art European headquarters at Wharfside and with the potential to create many more jobs across the north west.
Scientific equipment manufacturer, Omega Engineering, was one of the largest single investments in the urban development area. The US company chose Northbank as the location for its spectacular 22,110 sq m European manufacturing headquarters following a lengthy selection process involving a number of sites throughout the UK and Europe. Omega was initially approached through the Corporation’s North American programme and represents one of the most significant inward investments to the north west region in recent years.
Both Photronics and Omega are flagship investments which will prove to be magnets for other high-tech overseas companies considering a European base. As Trafford Park has proved with its food industry occupiers, having clusters of similar companies from related sectors is an important consideration in the global battle to secure inward investment.
Major new foreign investments since 1987 include:
Acrison International (USA)
Advanced Communications (USA)
Ardmac Cleanrooms Division (Ireland)
CMP Batteries (France)
Costco (USA)
Deroyal (USA)
F L Logistics (Germany)
Freight Systems International (Ireland)
Hanjin Shipping (Japan)
H S Hansen (Denmark)
Ionics (USA)
Kratos Analytical (Japan)
KS Fruitwashers (Ireland)
Linde Gas (Germany)
Manchester Tobacco Company (Japan)
Omega Engineering (USA)
Optiroc (Sweden)
Orbit Pumps (South Africa)
Parametric Technology (USA)
Photronics (USA)
Rehau (Germany)
Rubber Metall Technik (Malaysia)
SCT International (USA)
Shimadzu Europe (Japan)
Special Flange Services (France)
Sprint Bikes (Italy)
Tetra Pak (Sweden)
Teco Electric Europe (Taiwan)
Teco Information Systems (Taiwan)
TRM Copy Centres (USA)
United Parcel Service (USA)
Wedeco (Germany)