The Liverpool City Region Local Enterprise Partnership (LEP) - Development Projects
Investment in the Liverpool City Region
The underlying prospect for growth in the Liverpool City Region show an improvement on their historical performance although the underlying prospect for long-term growth, as indicated by a 'business as usual' scenario, are weaker than for the UK and the North West.
Although trend based projections for growth remain weak, the region has developments in place to support significant growth. Reviewing all the significant development projects ongoing or planned for the Liverpool City Region identifies the potential creation of 120,000 gross jobs by 2020. An estimated 62,000/50% of jobs going to these new developments may be displaced from elsewhere in the region.
Importantly, much of the growth associated with development projects comes from those projects that are either in delivery or soon to enter into delivery; only 18% of the potential impact on the economy is from pipeline projects, which are at a much earlier stage in the planning and development process.
The impact of overall productivity of projects due to be delivered by 2020 is small, with 40-45% falling within relatively low productivity industries, such as retailing, distribution, hotels and catering and other leisure/tourism related services. For productivity growth, the nature of activities that are attracted to the new development sites must be in higher value-added activities than are currently undertaken in the Liverpool City Region.
The potential increase in employment is to be welcomed. However in order to sustain the large employment in sectors such as retail and hotels and catering, which may be the source of initial employment opportunities for many, the economy needs to attract and secure the spending of individuals. Given the aspirations of the region, much of this will be from those employed in high value-added activities. Attracting high value-added employment is necessary to support the sectors which can be the source of initial employment opportunities for the less skilled.
What is now clear as a result of this analysis is that the 'business as usual' approach will not be enough to close the gap, particularly in the current economic climate. A twin-track approach is required to increase the scale of activity within the economy, both in terms of employment and business numbers, and also to raise the productivity of existing businesses and this has led us to focus on the four transformational actions Liverpool SuperPort and the Low Carbon, Visitor and Knowledge Economies.
In the medium to long term, these actions will reduce the high and enduring structural unemployment that the Liverpool City Region suffers from. This will be achieved by supporting the growth of nascent industries to off-set against those in decline, and increasing the competitiveness of existing industrial strengths such as the automotive and maritime sectors. We will also be ensuring that the population of the Liverpool City Region are able to contribute to economic growth and partake in the opportunities through increased skills provision and employment.
Current opportunities for investment in the Liverpool City Region...
Planned Developments
3MG - Mersey Multimodal Gateway
Rail Infrastructure, Road Infrastructure, Port Development3MG is destined to be one of the UK's largest inter-modal logistics parks and offers unrivalled access to the UK's deep-sea ports, with six daily train services to the key south coast ports of Felixstowe, Purfleet and Southampton.
Knowledge Quarter - Liverpool Teaching Hospital
University/Science/Research
The Knowledge Quarter contains a remarkable concentration of outstanding research, teaching, technology transfer and commercialisation assets, all located at a key gateway into the City Centre. Many of these assets are of national and international repute.
The £477m redevelopment of Royal Liverpool University will provide hospital and related healthcare developments on one site of 10.11 hectares. The site will bring together core hospital buildings, an energy centre, future healthcare buildings, vehicular and pedestrian access, including blue light access, car parking, vehicular drop off/arrivals, pedestrian routes and areas of soft and hard landscaping.
Source: Liverpool Vision Development Update June 2009.
New Mersey Gateway
Road Infrastructure
The Mersey Gateway is a £431million project that will provide a landmark new bridge over the River Mersey, between the towns of Runcorn and Widnes. The project includes modifications to the existing Silver Jubilee Bridge that would improve facilities for public transport, walking and cycling across the river.
The new Mersey Gateway Bridge will:
- Cross the river around 1.5 kilometres to the east of the Silver Jubilee Bridge.
- Be a tolled crossing.
- Have three lanes across in each direction.
- Link the Central Expressway in Runcorn with the Eastern Bypass and Speke Road in Widnes.
Source: www2.halton.gov.uk/merseygateway
St. Paul`s Square
Major CommercialForming part of the Liverpool Commercial District, this latest investment will ensure a continued supply of new Grade A office accommodation in the city centre to offer to prospective occupiers, particularly in financial and professional services.
The 109,000 sq ft building - known as 4 St Paul's Square - will be one of the Northwest's most energy-efficient buildings (BREEAM Excellent), and provide office space across eight floors.
Work on the £41 million project ECf, the public-private joint venture between Muse Developments, the Homes & Communities Agency, and Legal & General - has already created 250,000 sq ft of office space.
Wirral Waters/Liverpool Waters
Mixed Use DevelopmentPeel Holdings, the owners of Mersey Docks & Harbour Company and Liverpool John Lennon Airport, are behind Liverpool Waters and Wirral Waters - a £10 billion, 32 million sq ft scheme, which would see the creation of a world-class mixed-use iconic development of more than 50 buildings, many over 50 storeys high.
The Wirral Water`s plan to invest £4.5billion in regenerating Wallasey and Birkenhead docklands has now been given planning permission for the initial phase of the development. This will see more than 500 acres of brownfield, underused land redeveloped.
Due for completion in 2050.
Source: www.peelwaters.co.uk
