Liverpool city region will combine its Freeport and Life Sciences Innovation Zone into a single package to tempt global investors. Tony McDonough reports
A new Industrial Strategy Zone (ISZ) will combine the benefits of Liverpool city region’s Freeport and Life Sciences Innovation Zone.
This, says city region Mayor Steve Rotheram, will offer global investors a “coherent package of support and to accelerate and de-risk property investments”. It will focus on health and life sciences, advanced manufacturing, digital and tech, maritime and logistics.
Featuring six designated tax sites the ISZ offers fiscal incentives to expanding and relocating businesses coupled with a long-term funding mechanism to support future infrastructure developments.
It also provides customs benefits at specified sites over a 45km-wide area for businesses involved in international trade. The zone aligns with the Government’s Industrial Strategy and will accelerate delivery of nationally significant projects.
On offer will be investment levers including £185m Government funding and a streamlined planning process with existing permitted development rights, Consent Orders and adopted masterplans at key ISZ sites.
Occupier benefits will include favourable tax and customs incentives and sector specific scale-up and investment programmes. The six tax sites are:
- Sci-Tech Daresbury
- St Helens Manufacturing and Innovation Campus
- Maghull Health Park
- Wirral Waters
- Parkside, St Helens
- 3MG in Halton
A key feature is a scheme allowing councils to retain business rates from new properties at specified tax sites for the next 25 years, with the money ring-fenced for projects to further develop premises and capability.
“We’re on a mission to drive investment to the Liverpool City Region, and through our Life Sciences Innovation Zone and Freeport we have powerful levers to attract innovators, investors and businesses from across the globe,” said Mr Rotheram.
READ MORE: Is start date finally in sight for Martins Bank project?
“The launch of our pioneering Industrial Strategy Zone marks a transformational moment bringing these two programmes under one roof to offer investors a streamlined pathway to support their entry and expansion into Liverpool city region.
“Coupled with our new £2bn LCR Investment Fund, this is a once‑in‑a‑generation opportunity to accelerate productivity, attract global investors, and deliver thousands of high‑quality jobs – powering a more prosperous, innovative and resilient economy for decades to come.”