Global design and infrastructure consultancy, Arcadis, analysed growth prospects in the UK’s 24 leading urban economies and measured their potential against six key pillars. Tony McDonough reports
A new report has rated Liverpool city region as one of the top four hotspots in the UK for economic growth potential.
Global design and infrastructure consultancy, Arcadis, analysed growth prospects in the UK’s 24 leading urban economies and measured their potential against six key pillars: workforce and skills, infrastructure, business environment, place, city brand and housing.
In the final league table of the report – Investing in Britain – Liverpool came in fourth behind Edinburgh, Oxford and Cambridge but ahead of London, Birmingham and Manchester.
Among Liverpool city region’s key strengths were its city brand, infrastructure, positive business environment and the quality and affordability of housing supply.
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.
“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.”
The report was welcomed by both City Region Metro Mayor Steve Rotheram and managing director of the Liverpool City Region LEP, Mark Basnett.
Mr Rotheram 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.”