The UK Government’s second Investment Zone has launched in Liverpool, following initial investment into advanced manufacturing in South Yorkshire.
With £80m of Government funding, the Liverpool project is set to unlock over £300m of investment and generate 4,000 jobs in the region over the next five years.
Here, Partner and Head of Corporate Mark Rathbone gives his perspective on this boon to the North.
Welcome news for Liverpool
We welcome the news that the Government has launched England's second Investment Zone in Liverpool, which focuses on life sciences.
The initial £10 million investment by US pharmaceutical manufacturer TriRx is somewhat auspicious, given that the city has significant, internationally-recognised credentials for innovation in medical interventions — including our client, the Liverpool School of Tropical Medicine, which celebrates its 125-year anniversary this year.
This international investment is consistent with the findings in our recent Northern Investment Index report, which explored the intentions of more than 400 institutional investors based in the UK and US for 2023 and illustrated just how highly regarded the regional economy is in the North of England.
It is also evidenced in the work that we’ve been doing to support the UK and international M&A market. We’ve already advised on more than £475 million worth of deals in the first half of 2023 — many on behalf of international firms, including longstanding clients like Swedish group Atlas Copco, which acquired Northampton-based distributor Maziak Compressor Services as part of its ‘buy and build’ strategy.
We also recently supported the sale of Liverpool-based games developer Lucid Entertainment Group Limited (Lucid Games Ltd) to LightSpeed Studios — a subsidiary of multinational technology and entertainment company Tencent — a significant international investment into gaming, creative and digital talent in Liverpool.
Levelling up the North
Government-led initiatives such as the Liverpool and South Yorkshire Investment Zones are well received examples of how the public and private sectors can work together to deliver meaningful change, in-line with the levelling-up agenda.
As a firm with a national reach — that is proudly anchored in the North — we have supported on significant projects like the Eden Project North, Peel’s Liverpool Waters and Wirral Waters schemes, as well as local development infrastructure such as advising on Oldham’s £550m transformational regeneration project.
We look forward to playing our part in supporting both current and future clients in capitalising on the focused investment opportunities these investment zones bring, with six further Investment Zones set to be announced across England.
Find out more about how our corporate, commercial, employment and real estate teams support investment and innovation across the country.
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