| Local Development & Regeneration

It is also expected to generate up to £350m for the regional economy. 
Agecroft Commerce Park in Salford, which was completed in 2006, has become a key business location for the area, attracting companies such as PZ Cussons, which is investing £26m in a purpose-built innovation centre at Agecroft. The facility will accommodate a new high-speed liquids factory, a new research and development centre and a new fragrance development centre. 
SalfordÕs reputation as a business location is set to be boosted by the recent opening of the Salford Innovation Forum, a new facility based at Salford Innovation Park which provides managed office space for knowledge-based business start ups and SMEs. The project, which received a £5.9m grant from the NWDA, will enable new businesses to benefit from the transfer of technology from nearby higher education institutions. 
In South Manchester, the St Petersfield scheme in Ashton Under Lyne is creating a dynamic new business quarter for the area. The project is being developed by Ask Property Developments in partnership with Tameside Metropolitan Borough Council (see page 86), the NWDA and English Partnerships, who have collectively invested £14m to regenerate the town in a 400 sq ft £42m project. 
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Did you know? 
Regenerating East Manchester 

In East Manchester, working with the areaÕs urban regeneration company New East Manchester, the NWDA is driving the economic growth of the area through a number of key projects. 
For example, the Agency is investing in the creation of a mixed-use urban village in Ancoats, the worldÕs first industrial hub, which is home to the largest concentration of Grade ll and Grade III listed buildings in Greater Manchester. Through the restoration of several of the areaÕs historic buildings, the NWDA is helping to preserve the areaÕs rich industrial heritage by creating innovative business and living accommodation and high quality open spaces. 
East ManchesterÕs Central Park is also making a real difference in the areaÕs reputation as a business destination. Covering an area of 185 hectares, it is expected to generate up to 5,000 jobs, together with a further 6,000 new jobs once the entire project is completed, making it a major employment base for the whole of Greater Manchester. The business park, which will be both the UKÕs first large scale urban business park and the only one totally dedicated to high-tech industries, will eventually accommodate corporate office space for international and national companies, living/work space, small scale incubator space, as well as training, enterprise and technology transfer facilities. 
Manchester has the largest and fastest growing financial services sector outside London, employing around 172,000 people and valued at more than £9bn. 
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An artists impression of MediaCityUK, Salford Quays