Liverpool City Region’s Low Carbon Economy has performed strongly throughout the recession, creating an estimated 1,000 new jobs during the last year alone, according to new independent research just published.
The sector employs 23,000 people working for 1,300 companies generating £3bn in sales during 2012/2013, the new market intelligence report reveals.
Research commissioned by Partners led by the City Region’s Local Enterprise Partnership (LEP) also states that growth across the sector has averaged more than 4% each year throughout the recession and is predicted to continue to grow.
The LEP has identified the Low Carbon Sector as one of four with highest potential to attract investment and generate economic growth.
LEP Executive Director Mark Basnett said:” Over the last 12 months we have been working with the Environmental Sustainability Technical Assistance (ESTA) project to understand the size and make-up of the existing Low Carbon and Environmental Goods and Services (LCEGS) sector in Liverpool City Region.”
He added:“The study also considered the potential for growth of this sector and the ability of other businesses to diversify into the sector. The findings demonstrate the strong performance of the sector in terms of growth, expansion and job creation. Its findings will help inform future phases of our activity to deliver more new jobs across the City Region. Low Carbon still represents an extraordinary economic opportunity for Liverpool City Region. We have many of the business, built, and natural assets to capture further growth.”
Vicki O’Kelly, Sustainable Growth Advisor for ESTA said: “This report shows that Liverpool City Region has significant strengths across the low carbon and environmental goods and services sector and has the potential to generate further additional growth and jobs over the next few years.”