Global design and consultancy firm, 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.
Liverpool came in fourth in the final report, ‘Investing in Britain’, behind Edinburgh, Oxford and Cambridge but ahead of London, Birmingham and Manchester.
The report explained that cities at each stage have their own individual strengths and require distinct types of investment to create the right kind of growth. 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 investment challenge.”
City Region Metro Mayor Steve 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.”