Liverpool City Region’s mayor has unveiled an innovation plan that he claims could boost the local economy by more than £40bn and create 44,000 jobs.
Steve Rotheram said that he intended to “supercharge Liverpool City Region’s innovation powerhouse credentials” and turn it into a “science superpower”.
This would involve investing 5% of the region’s economy in research and development by 2030, adding an estimated £41.7bn to the city region’s economy.
Launched at an event in Parliament this week, a new Innovation Prospectus details how the city region’s existing expertise in infection control, materials chemistry and artificial intelligence could be a launchpad for future discoveries and investment.
Rotheram said that, with net-zero projects such as Mersey Tidal Power and hydrogen energy factored in, the city region has more than £12bn of innovation projects primed for investment.
“I am determined to make our region the country’s innovation engine and to make that happen, we will be investing 5% of our GVA [Gross Value Added] in research and development over the next few years – nearly double the government’s national targets.”
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