Downtown in Business has called on Liverpool’s civic and business leaders to seize the city’s growing momentum and turn its cultural, sporting and visitor success into a new era of economic growth and private-sector investment.
Following Prime Minister Andy Burnham’s speech to Labour Party Conference in Liverpool last week , DIB group chair and chief executive Frank McKenna said there was a growing sense that the city had reached an important moment in its regeneration journey.
With Labour already confirmed to return to Liverpool for its annual conference in 2027, and the major UK real estate and investment conference UKREiiF moving to the city from 2028, McKenna believes Liverpool has an opportunity to significantly strengthen its position as a national and international business destination.
He said:
“Liverpool has spent the past twenty years rebuilding its reputation and confidence, largely through the phenomenal success of its visitor, cultural, hospitality and sporting sectors.
“European Capital of Culture in 2008 was a hugely important moment for the city. Since then, Liverpool has become one of the UK’s leading visitor destinations and has demonstrated time and again that it can successfully host major international events.
“What we haven’t done as successfully is convert that cultural renaissance into an economic renaissance. We have not attracted the volume of corporate investment, headquarters, professional services businesses and high-value jobs that a city with Liverpool’s assets and global profile should be securing.
“The encouraging thing is that there are now signs that this could be changing.”
McKenna pointed to Kyndryl’s decision to establish a major technology hub in Liverpool, the development of new Grade A office accommodation at Pall Mall, ambitious investment proposals for the waterfront and the opportunities presented by the North Docks as evidence of increasing confidence in the city.
He added that the decision to bring UKREiiF to Liverpool from 2028 could prove particularly significant.
“For years Liverpool has travelled to events such as MIPIM and UKREiiF to sell the city to investors. From 2028, thousands of investors, developers, property professionals and political leaders will be coming here.
“That gives us an extraordinary shop window, but simply hosting UKREiiF will not be enough. We need to start preparing now to ensure that when those investors arrive, Liverpool has a compelling proposition, investable projects and a public and private sector that speaks confidently about where the city is going.”
McKenna said Liverpool should learn from the economic transformation achieved by Manchester without attempting to replicate its model.
“There has understandably been a lot of discussion about ‘Manchesterism’ since Andy Burnham became Prime Minister. Liverpool can learn from Manchester’s success, particularly its ability to create long-term collaboration between political and business leaders around a shared growth agenda.
“But Liverpool doesn’t need to become Manchester. We have our own extraordinary assets and our own international identity.
“Our culture, sport, music, universities, hospitality, waterfront and visitor economy give Liverpool something that many cities would spend millions trying to manufacture. The challenge now is to combine those strengths with technology, innovation, entrepreneurship, property investment and a much stronger corporate economy.
“Perhaps that is what ‘Liverpoolism’ should be about.”
McKenna also stressed that economic growth must translate into opportunities for local people, with Liverpool’s universities and further education institutions, including the City of Liverpool College, playing an important role in connecting skills provision with emerging sectors and new investment.
He concluded:
“For too long the national conversation about Liverpool has focused on what happened to the city – industrial decline, political battles, injustice and controversy.
“That story is changing.
“Liverpool is attracting investment, major developments are moving forward, Labour Conference is coming back, UKREiiF is coming to the city and we even have a Scouse Prime Minister.
“There will never be a perfect moment when all the stars align for Liverpool, but there are moments when opportunity, confidence and political attention come together.
“This feels like one of them.
“Liverpool has got its mojo back. Now our business and civic leaders need to turn that confidence into investment, jobs and growth – and make damn sure we don’t waste the opportunity.”
