Liverpool City Region Unveils Ambitious Investment Zone Plans at MIPIM Cannes 2024
Liverpool’s ambitious investment plans for the future took center stage at MIPIM Cannes 2024, as new details emerged regarding the Liverpool City Region Investment Zone. Designed to inject vitality into the local economy, the Zone aims to generate 8,000 job opportunities while acting as a catalyst for innovation and growth.
An artist’s rendering of HEMISPHERE Two
Highlighted by an artist’s rendering of HEMISPHERE Two (shown above) the unveiling of the investment zone showcased a multitude of projects set to receive funding. Among them is the second phase of the HEMISPHERE lab development in Liverpool’s Knowledge Quarter, symbolizing the city’s commitment to fostering cutting-edge research and development.
A comprehensive prospectus emphasized the region’s prowess in innovation and identified 21 projects poised to bolster infrastructure, support businesses, and nurture emerging talent within the Life Sciences Investment Zone. Originally announced by the Government with an £80 million allocation last July, the funding was later doubled to £160 million in December, signalling confidence in the region’s potential.
Key developments earmarked for investment include initiatives at Maghull Health Park, St Helens Manufacturing and Innovation Campus, Earlsfield Park Knowsley, Sci-Tech Daresbury, and Knowledge Quarter Liverpool. Notably, Sciontec’s plans to expand laboratory and workspace in HEMISPHERE Two, with Liverpool City Region Investment Zone grant funding, represent a significant step forward in advancing scientific endeavors within the area.
Professor Mark Power, chair of Sciontec and vice-chancellor at Liverpool John Moores University, affirmed the significance of the investment, stating:
“HEMISPHERE Two will provide a robust platform for pioneers to thrive, complementing the success of HEMISPHERE One and addressing the growing demand for laboratory facilities in the region.”
The commitment to innovation extends to the £500 million St Helens Manufacturing and Innovation Campus, set to rejuvenate former industrial sites and stimulate job creation. Over the course of a decade, the Investment Zone aims to attract £800 million in combined public and private investment, positioning Liverpool City Region as a frontrunner in science and innovation on the national stage.
Mayor of the Liverpool City Region, Steve Rotheram underscored the Zone’s broader impact, emphasizing its role in fostering inclusive growth and connecting residents to high-quality employment opportunities, stating:
“With up to £800m of investment and thousands of quality, high skilled jobs on offer, the Liverpool City Region Innovation Zone is an important tool in our arsenal to position our area at the head of UK science and innovation.
“But in the Liverpool City Region, we’re proud to do things differently. Throughout the development of our Innovation Zone, I have been clear that any investment in our area must go further than purely financial incentives. I want to use our status as a force for good, to connect our residents up to secure, well-paid jobs and training opportunities, and attract transformational investment into our communities.”
Echoing this sentiment, University of Liverpool vice chancellor Professor Tim Jones emphasized the institution’s commitment to driving meaningful research with tangible benefits for the region and beyond.
Cllr Paul Stuart, Liverpool City Region portfolio holder for digital and innovation, highlighted the transformative potential of the Investment Zone, particularly in bolstering the health and life sciences sector and leveraging the region’s entrepreneurial spirit.
“With existing lab facilities at Liverpool Science Park already at capacity and HEMISPHERE One now significantly pre-let, we have a robust platform to move forward confidently with plans for HEMISPHERE Two and create even more places for pioneers to thrive in the heart of the city region.”
The £500m St Helens Manufacturing and Innovation Campus will also be backed with funding. It will redevelop land formerly used by the glass industry to expand the area’s manufacturing and innovation capabilities. The scheme has the potential to create more than 1,000 new jobs.
As Liverpool forges ahead with its ambitious investment agenda, stakeholders are poised to witness a renaissance in scientific discovery, economic prosperity, and community empowerment within the City Region.
Read more about Liverpool’s HEMISPHERE and Sciontec HERE
