Economic regeneration
The City of Liverpool is currently enjoying a huge rise in its economy.
Since the early 1990's, the City Council has worked to rebuild our city and improve its economy. We have a number of teams and services specially set up to deal with these issues; and we talk with both private sector and other public sector agencies. With money coming from both central government and Europe, the city is now seeing remarkable growth.
- Our unemployment rate, always higher than the national average, has been steadily falling faster than the national level for a number of years. It will soon equal the national level - and in a few years time - we hope will fall below it.
- Between 1998 and 2002 our economy grew by 25.5%, matching the rest of the UK. However, between 2002 and 2005 it rose faster than anywhere else in the country.
- In 2004 the number of firms in the city grew by 1.75%; this rate rise was more than the rest of the UK. Rents for floorspace have been rising, and so has the value of office buildings and shops throughout the city. However, with top rates being £22 per square foot in 2008, this is making Liverpool a highly competitive location for new and growing businesses when compared to other major cities where floorspace costs are higher.
- Business confidence is continually improving. New offices are being built in the city centre - mostly in the Commercial District and at Princes Dock. The first two phases of the prestigious St Paul's Square opened in early 2008 at a combined cost of £122million, adding to the grade A floorspace now available in the city.
- Liverpool Vision is heavily involved in regeneration of Liverpool's Strategic Investment Areas where new business opportunities are being developed, and new jobs are being created.
- The rising economy until 2008 has also had a huge effect on house prices. This can be seen most of all in the City Centre and southern and eastern suburbs. Here, prices rose faster than the national average for a number of years until the recent squeeze on the economy brought this trend to a halt nationally.
Liverpool Economic Briefing
There are many ways to measure what makes the city's economy work and how it is improving. This document contains social and economic data that can help firms make choices when spending money in the city. You can read read the current Liverpool Economic Briefing. (The latest issue was published in March 2008).
Merseyside Economic Review 2007
The Mersey Partnership publishes an annual Merseyside Economic Review.
Liverpool Vision
Liverpool Vision is our main agency partner. It has recently absorbed the former BusinessLiverpool to create a single point of contact where businesses can go to get a full range of services. Help is given to both new and existing firms looking to expand. They can find support from core partners, and a large network of public sector organisations and agencies.
Have a look at the Liverpool Vision website to see how they can help you.
Regeneration Portfolio
Within the Council itself, the Regeneration Portfolio is responsible for regeneration and economic development in the city.
You can find out more about the work that we do by clicking on the links to the left under "Economic Development".