Liverpool City Region Combined Authority (LCRCA) Market Research Report

Background

Overview

The Liverpool City Region Combined Authority (LCRCA) is a strategic governance body established on 1 April 2014, encompassing six local authorities: Halton, Knowsley, Liverpool, St Helens, Sefton, and Wirral. Serving a population of approximately 1.6 million residents, the LCRCA is responsible for overseeing and coordinating regional initiatives in transport, economic development, regeneration, culture, tourism, energy, justice, and health.

Mission and Vision

The LCRCA's mission is to foster a fairer, stronger, and cleaner city region where no one is left behind. Its vision includes becoming a pioneer of the Green Industrial Revolution and positioning the region as global, confident, and outward-looking.

Industry Significance

As a combined authority, the LCRCA plays a pivotal role in regional governance, enabling coordinated decision-making and resource allocation across the Liverpool City Region. This structure enhances the region's ability to address complex challenges and leverage opportunities for sustainable growth and development.

Key Strategic Focus

Core Objectives

• Economic Development and Regeneration: Stimulating economic growth through strategic investments and regeneration projects.

• Transport Infrastructure: Enhancing and integrating transport networks to improve connectivity and accessibility.

• Sustainability and Environment: Implementing initiatives aimed at achieving net-zero carbon emissions by 2040.

• Social Inclusion: Promoting equality and ensuring that all communities benefit from regional developments.

Areas of Specialization

• Public Transport Management: Overseeing services such as Merseyrail, Mersey Ferries, and bus networks.

• Housing and Planning: Developing strategies for housing provision and urban planning.

• Skills and Employment: Facilitating training programs and employment opportunities for residents.

Key Technologies Utilized

• Smart Ticketing Systems: Implementing integrated ticketing solutions across transport modes.

• Sustainable Energy Solutions: Developing projects like Mersey Tidal Power to harness renewable energy.

Primary Markets and Conditions Targeted

• Local Communities: Enhancing quality of life for residents.

• Businesses and Investors: Attracting investment and supporting business growth.

• Tourism Sector: Promoting the region as a cultural and leisure destination.

Financials and Funding

Funding History

The LCRCA has secured substantial funding through devolution deals and government grants, enabling significant investments in regional projects. Notably, over £1 billion has been invested in schemes to:

• Grow the science and innovation-driven economy.

• Create tens of thousands of jobs and apprenticeships.

• Introduce a new fleet of state-of-the-art, publicly owned trains.

• Provide adult skills training for tens of thousands of local residents annually.

• Support cultural events, such as Eurovision and the return of the Giants.

Recent Funding Rounds

Specific details regarding recent funding rounds are not publicly disclosed. However, the LCRCA continues to engage in discussions with central government to secure additional funding for ongoing and future projects.

Notable Investors

As a public body, the LCRCA's primary funding sources include the UK government and the constituent local authorities. Collaborations with private sector partners also contribute to funding, particularly in infrastructure and development projects.

Utilization of Capital

The capital raised is allocated across various initiatives, including:

• Transport Infrastructure: Upgrading and expanding public transport networks.

• Economic Development: Supporting business growth and attracting investment.

• Housing Projects: Developing affordable housing and urban regeneration schemes.

• Environmental Initiatives: Implementing sustainable energy projects and green technologies.

Pipeline Development

Key Projects

• Mersey Tidal Power: A renewable energy project harnessing tidal power from the River Mersey, aiming to generate sufficient energy to power one million homes and create thousands of local jobs and training opportunities.

• Public Transport Integration: Plans to integrate bus services under the LCRCA's management, providing greater control over fares, routes, and timetables.

Stages of Development

• Mersey Tidal Power: In the planning and feasibility stage, with ongoing assessments and stakeholder consultations.

• Public Transport Integration: Implementation phase, with gradual integration of bus services into the LCRCA's portfolio.

Target Conditions

• Mersey Tidal Power: Addressing energy sustainability and economic regeneration.

• Public Transport Integration: Improving transport efficiency and service quality.

Timelines for Milestones

• Mersey Tidal Power: Expected to commence operations in the mid-2020s, subject to regulatory approvals.

• Public Transport Integration: Full integration anticipated by 2026.

Technological Platform and Innovation

Proprietary Technologies

• Integrated Ticketing Systems: Developing seamless ticketing solutions across various transport modes.

• Smart Infrastructure: Implementing IoT-enabled infrastructure for efficient transport management.

Significant Scientific Methods

• Environmental Impact Assessments: Utilizing advanced modeling to evaluate and mitigate environmental effects of projects.

• Data Analytics: Employing data-driven approaches to optimize transport networks and urban planning.

Leadership Team

Executive Profiles

• Steve Rotheram: Mayor of Liverpool City Region since 2017, leading the Combined Authority in driving prosperity and innovation.

• Katherine Fairclough: Chief Executive of the LCRCA, appointed on 28 June 2021, responsible for overseeing the authority's operations and strategic initiatives.

Competitor Profile

Market Insights and Dynamics

The LCRCA operates within a competitive landscape of regional governance bodies in the UK, each vying for investment and resources to drive local economic growth and development. The authority's strategic focus on sustainable development, transport integration, and social inclusion positions it as a leader in fostering inclusive growth.

Competitor Analysis

• Greater Manchester Combined Authority (GMCA): Focuses on economic development, transport, and housing, with a strong emphasis on digital innovation.

• West Midlands Combined Authority (WMCA): Prioritizes transport infrastructure, skills development, and regional connectivity.

Strategic Collaborations and Partnerships

The LCRCA collaborates with various stakeholders, including:

• Local Authorities: Joint initiatives in housing, transport, and economic development.

• Private Sector: Partnerships in infrastructure projects and business support programs.

• Academic Institutions: Collaborations in research and development, particularly in health and life sciences.

Operational Insights

The LCRCA's integrated approach to transport and urban planning provides a competitive advantage in delivering cohesive and efficient services across the city region. Its commitment to sustainability and social inclusion further differentiates it from competitors.

Strategic Opportunities and Future Directions

Strategic Roadmap

• Sustainable Development: Advancing projects like Mersey Tidal Power to achieve net-zero carbon emissions by 2040.

• Transport Integration: Completing the integration of bus services to create a unified public transport network.

• Economic Diversification: Investing in sectors such as digital technology and advanced manufacturing to strengthen the regional economy.

Future Business Directions

• Digital Transformation: Enhancing digital infrastructure and services to support business growth and attract investment.

• International Collaboration: Building partnerships with global cities to share best practices and attract international investment.

Opportunities for Expansion

• Green Technologies: Leveraging renewable energy projects to position the region as a leader in green innovation.

• Cultural Tourism: Capitalizing on cultural assets to boost tourism and related industries.

Positioning for Future Objectives

The LCRCA's integrated governance structure, strategic focus on sustainability, and commitment to social inclusion position it well to achieve its future goals.