One of the strongest economies in the UK
Liverpool, Merseyside, is one of the strongest local economies in the UK, worth an estimated £156.8bn.
In December 2016, statistics from the Office for National Statistics (ONS) showed the Merseyside economy grew by 3.1% in 2015, faster than any other major city in the area, and outperforming both London (1.6%) and Manchester (3%.) This also by far exceeds the national average of 1.7%.
Employment in Liverpool grew by 2% in the same time period, with the service sector, primarily hotels and restaurants, providing the biggest boost to the city’s economy.
Liverpool will receive £1bn over 30 years from the government as part of a devolution deal, which will give the city region more control over skills, transport and planning.
Located in the heart of the Northern Powerhouse, it’s not surprising billions are being invested into redeveloping the city. Some £5bn worth of investments has already been poured into the city region.
An estimated 4,640 new jobs, contributing around £61.9m in GVA, will be created in the region thanks to the Merseyside Gateway Project.
The project will see the creation of a new six-lane toll bridge over the River Mersey between the towns of Runcorn and Widnes.
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Economy & Employment
Liverpool is considered one the UK’s strongest economies, worth an estimated £156.8bn.
It’s home to around 294,200 businesses with access to close to six million customers. The city saw one of the highest rates of growth between 2004 and 2012 with a 34% increase, according to Invest Liverpool.
Economic output per job in advanced manufacturing is estimated at 7% higher than the UK average, and the sector in Liverpool is expected to grow a further 22% over the next 10 years, compared to 19% nationally.
Liverpool is home to a number of national and international companies, including:
- Dong Energy
- General Motors
- Jaguar Land Rover
and many more. In 2016, Barclays announced it would invest £15m into the city, creating 300 jobs.
Liverpool is home to the International Business Festival. In 2016, the festival attracted around 25,000 visitors; a fifth of these was from London and the South East.
It attracted delegates and investors from over 100 countries. The festival ran for three weeks and helped facilitate deals worth an estimated £250m.
A new 12-storey hospital, Royal Liverpool Hospital, worth £429m, will provide 650 beds, 18 state-of-the-art theatres, 23 wards and units, a large clinical research facility and cancer centre. The hospital is set to open in 2017/18.
Over the last decade, Liverpool has attracted over £5 billion of physical investment, according to Invest Liverpool.
It estimated in June 2016 that the total value of invested currently being poured into Liverpool reaches £7bn.
A £40m development is set to be built on a hilltop site above the city centre. It will contain 146 student apartments and 246 private apartments.
In April 2017 planning was permitted for a high rise tower across several developments in Liverpool.
- Infinity – a £250m scheme that will produce 1,002 apartments, a luxury spa, gym and pool and more than 10,000 sq ft of commercial space. It’s expected to complete in 2019.
- Ovatus 1 – a £35m scheme that will produce 168 across 27 storeys. Work is expected to start in September 2017.
- Bevington Bush – three residential blocks of between nine and 19 storeys containing 381 apartments.
- Bankfield College – the redevelopment of the former City of Liverpool College, which will contain 98 apartments.
- Swainbanks – three blocks of 346 apartments, which will also contain commercial units.
Liverpool John Lennon Airport is located around 32 minutes by public transport from the city centre. The airport services a number of airports across Europe. Manchester Airport is around 51 minutes by car or 1h 9 mins by car.
Road: The M62, the M57 and the M58, connecting to the M6 and leading to destinations such as Manchester, Blackburn, Birmingham and Carlisle.
Bus: Liverpool is serviced by a large number of local buses.
Rail: Liverpool is home to four rail stations – James Street, Moorfields, Liverpool Lime Street and Liverpool Central – providing services to nearby areas, such as Kirkby and Ormskirk, as well as major cities and towns such as Newcastle, Manchester and Manchester Airport, Norwich, Scarborough, Birmingham and London Euston.
Liverpool is home to 13 primary schools, 31 secondary schools, 13 independent schools and 14 special and alternative schools.
Further education: The Liverpool Institute of Performing Arts (LIPA) is one of the UK’s most prominent schools for the performing arts. It was founded by Sir Paul McCartney and Mark Featherstone-Witty RNOM OBE in 1996.
In September 2003, LIPA launched LIPA 4-19; a part-time performing arts academy for 4 to 19-year-olds. Since then, a satellite school and associate academies have also been launched. LIPA started its own primary free school in 2014 and its own sixth form free college in September 2016.
Other further education organisations include the City of Liverpool College, St Edward’s College, Bellerive FCJ Catholic College, and Liverpool College, one of few state boarding schools in the UK.
Liverpool is home to three universities:
- The University of Liverpool, which had around 24,775 students in 2015/16
- Liverpool John Moores University, which had around 21,875 students in 2015/16
- Liverpool Hope University, which had around 4,940 students in 2015/16
Shops & Leisure
Shopping & dining:
Liverpool ONE is home to over 170 shops, bars and restaurants. It also contains a gym, an 18-screen Odeon IMAX cinema, the Jungle Rumble indoor 18-hole adventure golf course and two hotels (the Hilton Liverpool and Novotel.)
Sports & culture: Liverpool is home to a large number of museums and art galleries. The city offers a rich and diverse music scene and plenty of venues to experience performances firsthand. The Royal Liverpool Philharmonic offers performances by its own orchestra, as well as world music, opera and contemporary music.
Anfield is home to Liverpool FC. The stadium itself is the sixth largest in the country. Expansion of the stadium’s Main Stand was completed in mid-2016 and is now one of the largest all-seater single stands in Europe, with a 54,000 visitor capacity.
Allerton Manor Golf Club offers an 18-hole golf course just a short journey from Liverpool city centre.
Green space: Liverpool is graced by a vast number of public parks and green space. Sefton Park is a 235-acre park is a Grade 1 historic park that holds Green Flag and Green Heritage status. Palm House is a Grade II* three-tier dome conservatory palm house located within the park.
St James Mount and Gardens is located adjacent to Liverpool Cathedral. Originally a cemetery, it turned into a public garden in 1972.