Revealed: The Sharp Project’s £32m contribution to Greater Manchester economy

The Sharp Project, a digital hub supporting hundreds of jobs in east Manchester, has contributed more than £32m to the city’s economy since 2013, according to a new report.

Independent research commissioned by Manchester City Council has revealed that over the last two years, the number of people working at the centre has grown by 57%, from 205 to nearly 480. The site’s GVA, meanwhile, leapt by 52.3% during that time, from £21.4m to £32.6m.

Carried out by Ekosgen, the Manchester-based economic development and regeneration consultancy, the report highlights how The Sharp Project has developed since 2013, when the results of the last impact assessment was published.

Launched in 2011, the facility is today home to 60 creative digital enterprises.

City council leader Sir Richard Leese commented: “To see evidence that on-site employment and associated GVA has continued to grow significantly since it was last assessed in 2013 is no surprise.

“The Sharp Project has become an established hub for micro businesses in the creative and tech field, further strengthening the sector and playing a crucial role in achieving the city’s digital ambition.”

The Sharp Project’s chief operating officer, Rose Marley, said: “Having like-minded companies under one roof is the key to our success.

“The environment fosters new partnerships and opportunities to explore alternative areas of work.”

She added: “The levels of collaborative work are phenomenal and demonstrate that our strategy is working and business and the economy are benefiting as a result.”

When the centre was first completed, digital industries in Greater Manchester accounted for around 45.7k jobs; today, the figure has grown to 57k in the city alone.

Elsewhere, the report stated that many of the businesses at the Sharp Project believe choosing the site as their base has contributed to their success. Every tenant reported seeing productivity increase, while 92% said their turnover from within the North West has grown and 85% said their turnover from other geographic areas has risen.

A further 77% said they have gained new clients or customers at the Sharp Project, and the same number reported developing new products or services since they moved in. Nearly half (42%) have since started trading overseas.

The report also gave initial findings for the Space Project, the site’s sister hub, which opened in November 2014 as a centre for TV and film production. Since it’s launch, the Space Project has supported the creation of more than a dozen full-time jobs and achieved a GVA of over £500k.

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