Growth Strategy for Liverpool City Region launches
A major new growth strategy which could deliver over 100,000 extra jobs for Liverpool City Region has been unveiled by Mayor Joe Anderson, Chair of the Liverpool City Region Combined Authority.
The Liverpool City Region Local Enterprise Partnership (LEP), working on behalf of the Liverpool City Region Combined Authority, has produced the far-reaching Strategy to deliver greater economic growth and greater prosperity for residents for generations to come.
Responding to the challenges and opportunities outlined in the report by the University of Liverpool and Liverpool John Moores University ‘The State of Liverpool City Region Report: Making the most of Devolution’; the Strategy aims to identify City Region priorities to tackle the biggest challenges facing the City Region, including the local economy, transport, health and wellbeing, skills, housing and the environment.
The Strategy provides a clear vision for how the City Region will deliver sustained, ambitious growth for the City Region with particular focus on three pillars – Productivity, People and Place. It also builds on the City Region’s assets linked to the Key Growth Sectors and their economic significance to become a truly globally competitive City Region at the heart of the Northern Powerhouse.
Research conducted by Oxford Economics has forecast that adopting this approach could lead to:
• The creation of over 100,000 additional jobs by 2040
• A net increase of 20,000 businesses over the next 25years
• An additional 50,000 people coming to live in the City Region by 2040
• Nearly doubling the size of the Economy to £50billion by 2040
Robert Hough, Chair of Liverpool City Region Local Enterprise Partnership (LEP) said: “This is a culmination of months of collaboration with partners and stakeholders across the City Region and I want to thank everyone who has been involved in this process.
“There are opportunities and challenges that our City Region must address if it is to achieve its full economic potential. This is why we, as a City Region, have developed this strategy – so that we remain focused on the issues that matter most to local people, business and our economy. The strategy launched today provides a clear, bold and ambitious vision that will help us achieve this and drive the City Region forward.”
Mayor of Liverpool Joe Anderson said: “The timing of this document is crucial as we enter a momentous phase for Liverpool City Region following our Devolution Agreement with Government, a milestone which means we are better able to shape our own future, but also as we face a period of national economic uncertainty because of Brexit.
“The report builds on our great assets and potential and creates a single vision to realise our aspirations over the next 25 years. Not only does it create a strategic framework for investment for the City Region Single Investment Fund and future Government opportunities, despite the decision to leave the EU it serves to provide a powerful message globally to private sector investors, that Liverpool City Region is well and truly open for business.
Welcoming the report Lord Heseltine said: “This report is crucial to the development of the Northern Powerhouse and I would like to congratulate all those involved in producing such a clear strategy.
“Having been involved with Liverpool for many years I am proud to see just how far it has come.
“The renaissance I have witnessed here is truly extraordinary and the billions invested is a vote of confidence in the collaborative work that is happening today.”
“I look forward to working with the City Region to ensure that this strategy is delivered effectively.”
Looking Forward, Interim Chair of the Liverpool City Region LEP Asif Hamid said: “We have the assets, heritage and the talent to deliver our vision of creating a globally competitive City Region and this Strategy is the first step towards making that happen.
“Our focus now is to translate this strategy into effective action by working collaboratively and inclusively.”