Liverpool city region's metro mayor Steve Rotheram has unveiled a levelling up "Plan for Prosperity" he hopes will add £19.7bn to the economy and create more than 50,000 new jobs.
The mayor's plan aims to win more powers for the city region to help grow its economy up to 2035.
He wants to diversify the city region's economy and focus on areas including skills, high-tech and low-carbon industries, tidal power and the freeport.
READ MORE: First look inside £30m transformation of Liverpool's North Western Hall into a Radisson RED hotel
His proposals include building on the success of science hubs including Knowledge Quarter Liverpool and Sci-Tech Daresbury, as well as being inspired by projects including the Hynet North West hydrogen fuel switching programme and the Glass Futures decarbonisation centre in St Helens.
The plan will also explore the city region's existing strengths in areas such as infectious disease control - led by Liverpool School of Tropical Medicine - materials chemistry, and applied artificial intelligence.
The region's ambition is to spend the equivalent of 5% of the local economy on research and development each year by 2030. Mayor Rotheram says that would give a £19.7bn boost to the economy, adding 44,000 new jobs and leading to a 10% uplift in productivity.
It has also been estimated the city region’s new Freeport status could create up to 14,000 jobs, and have an economic impact of £850m.
The latest plan also sets out the region’s intention to become the UK’s renewable energy coast, exploring opportunities in wind, tidal and hydrogen.
Mayor Rotheram also wants to see graduates stay in the city region and also wants to work with businesses to upskill people across the area.
The business vision is all part of the wider plan to cut inequality and deprivation to create a healthier population as well as a stronger economy.
Mayor Rotheram said: " For too long, too many people have been left behind by an economy that simply does not work for them. I want the Liverpool city region to be at the forefront of the movement for a better way of doing things.
"This plan outlines my bold vision for a fairer, stronger and cleaner city region – one that doesn’t just look to boost the bottom line, but boost people’s life chances.
"For me, true prosperity is about much more than traditional measures of economic growth. It means better personal health and wellbeing, proper access to opportunity and well-paid secure work; the chance to live in safe, thriving neighbourhoods; and in a flourishing natural environment.
"This is the true meaning of ‘levelling up:’ a place where no one or no borough is left behind and meaningful opportunity and equality is shared by all. Devolution is all about doing things differently and, in radically changing the face of our economy, we’re taking full advantage."
