Mayoral Enterprise and Development Zones
Armed with new powers from central government, and matched with a Local Finance for Growth funding package worth an initial £120 million, Liverpool’s Mayor took responsibility for developing the strategic vision of the city in 2012.
Liverpool set up the first Mayoral Development Corporation outside London, promoting both the City and the City Region at home and abroad, and implementing a single investment programme package.
This has included:-
- a new Enterprise Zone for North Liverpool and the Central Business District which offers incentives for companies to set up business in Liverpool and encourages existing city-based business to grow;
- the potential to capture the entire benefit of any growth in business rates from the Enterprise Zone for use in five other key economic areas of the city – North Liverpool, the Knowledge Quarter in the city centre, Stonebridge Cross, Central Liverpool and South Liverpool, areas referred to as Mayoral Development Zones or MDZs.
Using the city’s assets to create employment opportunities
Our priorities are to encourage investment that brings positive benefits to the city in terms of jobs, education and training facilities, and greater housing choices.
The City Council provides support through a number of teams with a regeneration focus. These teams work together to market the city and showcase potential development sites and opportunities – including Council or other public owned sites wherever possible – to either potential new investors or to existing companies based in the city wishing to find land or premises in which to expand. Business investors are supported through a range of financial support options such as the Mayoral Investment Fund. For qualifying investment projects, the support on offer may involve equity, loan or flexible funding packages.
Did you Know?: Since 2012, some £2 billion has been invested in schemes across the Mayoral Development Zones, resulting in over 5,000 jobs being created and 3,000 existing jobs safeguarded.