The Board received an update on the development of the Liverpool City Region (LCR) Growth Company.
It was reported that in the Spring of 2019, the LCR Combined Authority announced its intention to establish a special purpose delivery vehicle for economic growth; this would be known as the Growth Company.
Members were advised that the primary focus of the Growth Company was to develop a step change to how the LCR maximised its growth potential in future years. In order to achieve this, there was a need to develop a clearer and simpler model to support inward investment and business support in the City Region. It was also acknowledged that the success of the Company would require greater partnership working with a number of key institutions, notably local authorities; universities; colleges and the third sector. The proposals sought to further strengthen links between the Combined Authority and Local Enterprise Partnership.
The report described the areas that could be delivered through this vehicle and highlighted some specific areas that may be of interest to the Board.
It was agreed that an update report on the Growth Company would be submitted to the Board in the future.
RESOLVED: That the update be received.