Liverpool City Region is one of England’s fastest growing regional economies, according to new Government data.
Latest economic output for each Local Enterprise Partnership (LEP) area published by the Office for National Statistics (ONS) shows a growth rate of 4.2% per annum between 1997 and 2012, ranking the City Region 9th out of the 39 LEP areas and the only northern LEP area in the top 10.
Analysis of the figures by the Liverpool City Region Local Enterprise Partnership (LEP) shows that during the economic downturn and subsequent gradual recovery between 2007 and 2012, Liverpool City Region was ranked 6th of all LEP areas and one of only six to record growth of 2.0% per annum or above over the period.
Commenting on the figures, Liverpool City Region LEP Chair Robert Hough said: “Liverpool City Region has recorded a strong economic performance over recent years and these figures underline the progress being made to deliver sustainable economic growth across the City Region.
“This strong performance is on the back of increasing business investment, with the creation of an additional 12,000 private sector jobs in the last two years with many contained in the Key Growth Sectors of SUPERPORT, the Visitor Economy, and the Low Carbon Economy and also in Advanced Manufacturing.”
Robert added: “We are making good progress but we must accelerate our rate of growth. Our Growth Plan submitted to Government is seeking in excess of £250m of funding to capitalise on the success of our Key Growth Sectors especially around the potential of the City Centre, the development of a Freight and Logistics Hub for the City Region, and our ambitions to be a key centre for Low Carbon Energy generation and development.”