City region is a real business hot spot
● AN influential report has identified the Liverpool City Region as one of the UK’s top four growth hot spots.
The study by global design and infrastructure consultancy Arcadis analyses growth prospects in the UK’s 24 leading urban economies and measures their growth potential against six key pillars.
These include workforce and skills, infrastructure, business environment, place, city brand and housing.
The report ranks Liverpool fourth nationally behind Edinburgh, Oxford and Cambridge but ahead of London, Birmingham and Manchester.
Among the area’s key strengths were its city brand, infrastructure, positive business environment and the quality and affordability of housing supply.
The report was welcomed by Liverpool City Region metro mayor Steve Rotheram.
He said: “This is an encouraging report but in a sense it tells what we already know.
“External validation is always useful and helps to signal to UK and international investors the huge opportunities that exist within the city and wider City Region.
“Devolution gives us a huge opportunity to realise that potential by prioritising the areas identified in this report.
“Our focus on skills, renewable energy, digital connectivity, transport and housing will further increase our attractiveness as an investment destination.”
Managing director of the Liverpool City Region LEP, Mark Basnett said: “Liverpool City Region is increasingly being recognised as a dynamic, outwardlooking international city region and reports that highlight our attractiveness for inward investment are always welcome.
“Going forward, we are working to continue to attract such investment through the establishment of a comprehensive business-led Internationalisation Strategy for the City Region. This strategy will build on our globally competitive sector strengths and capabilities and our capacity for innovation that will ultimately increase trade and attract talent, visitors and investment from key global markets.”
Setting the context for the report, Arcadis UK cities director Peter Hogg said: “UK cities are competing for resources and opportunities. Determining future prospects depends on effective and resilient infrastructure, affordable housing, a broad skills base and a quality education system.
“Furthermore, a strong global brand, favourable business environment and unique ‘attraction factor’ add to the potential for long-term prosperity.
“The ability to attract this combination of social, economic and human capital is at the root of the investability challenge.”