Liverpool City Mayor Steve Rotherham has unveiled plans for a multi-billion-pound investment which aims to overhaul the city and double down on its reputation for being an innovation and thought leader.
The importance of Liverpool cannot be understated. Whether within property, economics or industry, the city has focused on progressive innovation. In recent news, Liverpool’s sights have been set higher, focusing on not only the city, but redefining how the world views the UK.
The plan focuses on three world-leading industries: materials chemistry, AI solutions and infection control.
Part of what has been unveiled revolves around reinvesting 5% of Liverpool’s economy on research and development by 2030, which amounts to double the government’s UK target. The success of this would add an estimated £47.1bn to the city’s economy.
In addition to the economic growth, the plan aims to create approximately 44,000 new stable jobs.
To back up this fact, Mayor Rotherham, who believes both in the industry and the communities of Liverpool, has stated:
“With its exciting mix of distinctive world-leading assets and capabilities, public and private partnerships and forward-thinking leadership, the Liverpool City Region is fertile territory for people wanting to turn big inventions and ideas into flourishing businesses.”
The mayor is hoping that alongside boosting Liverpool’s reputation, the multi-billion-pound plan will help define the UK as ambitious and an innovation superpower.
Fortunately, it can already be seen that the plan is underway, with Liverpool boasting a £3bn pipeline of projects, situating it in the perfect position for helping the UK government achieve its targets. Furthermore, with their plan to emerge in net zero innovation, this figure can be increased to £12bn with the addition of clean energy companies such as Mersey Tidal Power helping Liverpool hit its net zero goals, all the while providing the UK with greater energy security.
With the strong track record for innovation and great partnerships, Liverpool is highlighting its importance within the UK economy and proving its plan on achieving its potential of becoming one of the countries’ powerhouses.
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