Wirral Council has revealed plans to set up a regeneration company in response to recent government budget cuts.
The dedicated team will be charged with bringing fresh investment and jobs to the borough as the local authority attempts to make savings of £132 million by 2020.
The proposals, to be discussed at a cabinet meeting on 8 December, are part of a four-year plan to help the council become self-sufficient and act commercially when dealing with investors.
Wirral Council leader Councillor Phil Davies tells Move Commercial: “The regeneration company will be a small dedicated team that will promote Wirral and the regeneration vision. It will be our main interface between developers and investors and will translate those enquiries into real projects, capital and jobs.
“Having looked at cities like Liverpool and Manchester, many of them have set up these arms-length companies to be the main conduit for delivering economic success and we believe Wirral can follow in their footsteps.”
A core aim of the team will be to encourage new businesses to set up shop in Wirral, and Cllr Davies believes the borough’s thriving visitor economy, maritime sector and reputation as a leading manufacturing hub will be among its key draws.
The company will also champion Wirral assets including the Wirral Waters regeneration zone, Hamilton Square, Woodside, Birkenhead town centre and the revamped Hoylake Golf Resort.
Cllr Davies adds: “I’m confident that these plans will enhance the opportunities on offer in areas like Wirral Waters. Obviously we work very closely with Peel and Wirral Waters is an enterprise zone so hopefully we’ll be able to promote that more effectively with these plans in place.
“There are a myriad of regeneration opportunities in the borough and I think this new company will be an excellent delivery vehicle to more effectively promote them.”
Wirral Council’s four-year plan also includes a “radical review” of its services and functions to identify areas where money can be saved.