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Invest in the North West: Focus on Cheshire and Warrington, November 2012

Report Authors: GVA

Report Summary:

The North West is the UK’s third largest regional economy after London and the South East, accounting for 10% of its national output with a population of 7 million inhabitants. It benefits from a broad economic base and an extensive transport network, including one of the UK’s busiest international airports.

A number of high profile infrastructure projects will provide the catalyst to further development and economic growth in the North West. These include the six-lane Mersey Gateway bridge, the development of the ports at Liverpool and the Port Salford project and in the longer term the expansion of Manchester airport and extension of HS2 from Birmingham to Manchester. The region has harnessed a number of regeneration and growth initiatives. In particular major employers have been allocated grants from the regional growth fund; the enterprise zones will provide a catalyst for growth with mixed use schemes across the ‘Atlantic Gateway’ at Manchester airport, the ports at Liverpool and Wirral Waters and the science research facility at Daresbury.

Cheshire and Warrington lies at the heart of the Atlantic Gateway, a significant driver of economic growth in the North West. Cheshire and Warrington has a strong economy: with an eighth of the North West population, but contributing a sixth of the economic output, it outperforms the North West and UK on a number of economic indicators. The diversity of its economy provides strength in high tech manufacturing, advanced engineering, chemicals, pharmaceuticals, financial and business services and distribution and logistics. Major employers include Bank of America, Astrazeneca and Bentley.

There are key development schemes that will benefit from its infrastructure and skills base. These include: business parks at Omega and Birchwood Park in Warrington; office development in central Chester; employment and residential employment sites in Ellesmere Port and Basford in Crewe; and the mixed use town centre scheme at Warrington Bridge Street.

About the Author:

GVA’s award winning Research team provides high quality research and analysis to the business and its clients. Our market commentaries, thought leadership pieces and consultancy advice drive industry debate, distinguish GVA from its competitors, and add value for our clients.