Member Article

What’s going on in Liverpool?

A city that is probably most famous for its musical heritage and achievement within sport, Liverpool is fast becoming a place housing more than just an abundance of culture. Some may think of the Beatles and both of its successful football clubs, but recent news in the region has shown that interest in business in Liverpool is rapidly increasing.

This year’s International Festival for Business (IFB) was a huge success in June and July of this year, and had Liverpool to thank as its host city. Over 75,000 business delegates attended, coming from 88 different countries across the globe. Organisers of the event dubbed 2014’s IFB “the biggest concentration of business events taking place anywhere in the world this year,” and with more than 400 events held throughout the festival, it is clear that this is one of the reasons for the festival’s return in 2016.

Business is not the only sector which is attracting attention for the northern city - yesterday the One North report was announced, which involves plans to improve connectivity between five major northern cities, including Liverpool. Collectively, Liverpool, Leeds, Manchester, Sheffield and Newcastle are set to outline a £15 billion transport plan to better the links and access between each other, presenting the report to the government with the aim of working towards the “northern global powerhouse” that the Chancellor, George Osborne, spoke of in June when he visited Manchester.

“The joint One North report will include plans for a new 125mph inter-city rail link, faster links and better access to ports and airports.” Creating better connectivity between each of the northern cities will definitely have a positive impact in more ways than one, and with further improvement and regeneration happening in Liverpool – £350 million is currently being invested in building a super-port for the transportation of freight into the UK – this can only mean good things for the city. It could mean a huge boost to the economy and create jobs for Liverpool’s growing population. The super-port alone plans to create 30,000 new jobs over the next 20 years.

Jay Olshonsky, president of NAI Global, commercial real estate brokers based in New York, commented: “Currently, 45% of North American trade enters the UK via Liverpool, and the location is ideally positioned to benefit from increased Atlantic activity and the growth of Latin and South American economies, providing outstanding opportunities for NAI Global members and their clients, developers investors and occupiers to take advantage of the enhanced competitiveness of the Liverpool City Region for logistics and manufacturing operations.”

Sources

Liverpool Echo, BBC News, Liverpool Vision, Liverpool LEP.

This was posted in Bdaily's Members' News section by ERE Property .