24.07.20
Liverpool City Region launches £8.8bn economic recovery plan
The Metro Mayor of Liverpool City Region, Steve Rotherham, has launched an ambitious recovery plan today (July 24) outlining the potential for £8.8bn worth of projects in the region.
Building Back Better, which is now with Central Government, has the support of leaders in business, academia, the public sector and trade unions.
According to these plans, a £1.4bn investment from Government, could unlock £8.8bn of projects in the next 12 months alone, creating 94,000 permanent jobs and a further 28,000 jobs in construction.
Evidence of the region’s potential has been highlighted in the plan, with the four themes – the business ecosystem, people-focused recovery, place and a green recovery – all upheld by the commitment to Build Back Better.
Projects set out in the plan include development of the £60m National Packaging Innovation Centre, the £600m LCR Hydrogen Economy Programme and Manufacturing Technology Centre’s £155m programme on radical innovation of Modern Methods of Construction.
Steve Rotheram said:
“This pandemic has rocked us all and we still face tough times ahead, but my ambition to build a globally competitive, environmentally responsible and socially inclusive economy for the whole of our region remains undimmed.
“Before COVID-19, the city region’s growth rate of 3.5% was much higher than national levels, with well-above average productivity growth based on ten years of strong economic progress. We will build on these solid foundations.
“Alongside our strengths, we know that we still face hugely significant underlying challenges in health, education and skills and economic inactivity in our communities. Our recovery plan is focused on tackling these challenges and supporting the people of our city region – tackling inequality, creating jobs, supporting businesses, driving innovation, building new homes, and giving people the skills, they need to fulfil their ambitions.
“The challenge ahead is beyond the capabilities of any one city region, or any one organisation, to deal with alone. It is only by working together, with all of our partners across the city region and with government, that we will prevail and Build Back Better than ever.”