Department for International Trade
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Northern Powerhouse tech sector wins £45 million investment

American tech firm Credera invests £45 million into Manchester and Newcastle, creating over 300 jobs.

  • Manchester to receive £20 million to create 150 graduate roles over three years.

  • £25 million investment into Newcastle to create 160 high-skilled roles

  • UK tech sector is now valued at US $1 trillion (£764 billion) and is a top international destination for tech investment.

After a successful London Tech Week, the UK’s thriving tech sector is celebrating more good news as American tech consultancy firm Credera has announced a £45 million investment in the Northern Powerhouse.

£20 million will be invested into Manchester to create 150 graduate roles over three years, for those looking to kickstart their career in tech.

Manchester has a proven track record for innovation and development and has a strong reputation of being a great place to work.

In 2020-2021 alone, Foreign Direct Investment (FDI) projects created over 4,000 new jobs in the North West, building on our ambitions to level up the UK and create more highly skilled jobs across the country.

In the same time period, FDI projects created over 1,300 jobs in the North East, where Credera will invest £25 million into the heart of Newcastle to create 160 of an eventual 200 high-skilled positions for locals building their career in the UK’s budding tech sector.

Newcastle’s growing tech scene will open the door to new and exciting opportunities thanks to the investment and will create jobs, boost the local economy and level up the UK.

Secretary of State for International Trade Anne-Marie Trevelyan said:

This boost of investment into our thriving northern tech sector is testament to the friendly and open business environment the UK offers, which creates high-value jobs, delivers clean growth and innovation, and builds our economy.

The Northern Powerhouse is a force to be reckoned with and I’m pleased to see this government’s levelling up agenda having real, tangible benefits for the public up and down the country.

The UK is an extremely attractive investment destination the world over. Just last month, EU’s recent Annual Attractiveness Survey saw the highest level of investment intent recorded to date into the UK; a testimony to the exceptional environment for innovation this government has created up and down this country.

Channel website: https://www.gov.uk/government/organisations/department-for-international-trade

Original article link: https://www.gov.uk/government/news/northern-powerhouse-tech-sector-wins-45-million-investment

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