New ambitious plans aim to add £10bn to Liverpool City Region economy

A ‘bold and ambitious’ 10-year blueprint has been launched today to create tens of thousands of jobs and add £10bn to the Liverpool City Region economy.

Built on innovation and collaboration, the Liverpool City Region Growth Plan is a roadmap to increasing wages, driving investment, raising living standards and providing better services for the region’s 1.6 million residents.

Increasing productivity is at the heart of the plan, which if raised to the national average would alone add £6 billion to the city region’s £43.3 billion-a-year economy.

This will be achieved by building on the city region’s world leading innovation while accelerating growth of its most productive sectors including advanced manufacturing, health and life sciences, digital and technology and creative industries supported by maritime, professional and business services and the visitor economy.

With plans for the world’s largest tidal power scheme, the city region will also embrace clean energy opportunities and emerging green technologies.

Developed – and to be delivered – in partnership with local authorities, businesses, universities, the voluntary and community sector, unions and Government, the plan highlights the importance of improving skills, public transport, housing, health and infrastructure for raising productivity.

Providing a skilled workforce and better services and infrastructure will help attract and retain high performing businesses that can pay higher wages and more taxes to fund public services and investment.

The Combined Authority is using its devolved powers and strategic investments to strengthen the foundations of the city region economy to ensure everyone can realise their potential.

Since devolution in 2017, more than 35,000 homes have been added to Liverpool City Region’s housing stock, over 74,000 apprenticeships started, the number of jobs has increased by 45,000 and the size of the economy has grown to £43.4 billion

Economic forecasts show the Liverpool City Region Growth Plan, backed by sustained investment across the North of England, could add more than £10 billion extra to the economy and create tens of thousands of jobs – aligning with the government’s national growth mission.

The plan points to the city region’s £11bn investment pipeline and the Life Sciences Innovation Zone and LCR Freeport, under a shared Industrial Strategy Zone status, as key drivers for growth.

It also highlights numerous eye-catching opportunities within life sciences, digital and tech, creative industries, advanced manufacturing and clean energy with the potential to turn the dial on productivity.

These include the ambitious £550m Health Innovation Liverpool (HIL) development that will bring 2,200 jobs and deliver more than £1bn in economic benefits, and the 10-fold expansion of Daresbury’s cryo-plant to create a new National Cryogenics Facility to serve a global quantum computing cluster.

With Cammell Laird and its advanced manufacturing and digital capabilities, the city region is also well placed to provide solutions to the UK’s defence requirements in an uncertain world. And it’s uniquely placed to lead the way in the development of future zero-bills home building.

The LCR Growth Plan was launched today at the Materials Innovation Factory, a world-leading collaboration between the University of Liverpool and Unilever that’s driving the computer and robotics-aided discovery and design of materials.

Helping launch the Local Growth Plan, University of Liverpool Vice-Chancellor Professor Tim Jones said:

“As a global university rooted in our city and region, we are committed to driving the future prosperity of the Liverpool City Region. Through our research, education and innovation activities, we support innovation-led growth and create opportunities for people, businesses and communities. Our world-leading Materials Innovation Factory is a powerful example of how university–industry collaboration fuels innovation, delivers impact and drives economic growth. We look forward to working with our partners on this Growth Plan to make Liverpool City Region a powerhouse of research, innovation and enterprise.”

David Meyerowitz, Chair of the Liverpool City Region Business and Enterprise Board, said: 

“This Growth Plan is a bold and ambitious blueprint that reflects the scale of our aspirations for the Liverpool City Region. By focusing on innovation and accelerating growth in areas where we have genuine strengths, we’re unlocking the potential to add £10bn to our economy and create tens of thousands of high-quality jobs. Above all this is a collaborative effort, that will be good not just for business but for everyone, boosting innovation, driving growth and ultimately creating a better future we can all share in.”

Find out more information on the Liverpool City Region Combined Authority website.

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