Boosting Liverpool’s economy through funding
In February 2014, the Liverpool City Region welcomed the start on site of the world class £66 million exhibition centre and integrated hotel. This marked a significant milestone in the city’s plans to become leaders in hosting large scale events.
The Chrysalis Fund provided an £8 million pound loan towards the exhibition centre element of the scheme as part of its continuing commitment to support high quality urban regeneration in the Liverpool City Region that have significant benefit to the economy.
Securing Liverpool’s international future
The Exhibition Centre Liverpool will include an 8,100 sq m three-hall space which will connect via a pedestrian link bridge to the ACC Liverpool, home to BT Convention Centre and Echo Arena. This unique bridge will make the venue the only purpose built interconnected arena, convention and exhibition centres in Europe. The new exhibition centre is expected to open for business in September 2015.
The latest addition to the waterfront will allow Liverpool to become the UK’s newest destination for global conferences, exhibitions and trade shows, concerts, cultural and sporting events on a national and international scale.
It is estimated the creation of the centre and planned exhibition and events programme will support 1,300 jobs in the wider economy and contribute around £40 million per year in economic benefit to the Merseyside area.
During its first year of operation, Exhibition Centre Liverpool is expected to host about 50 events and attract more than 250,000 visitors.
Investing in the market
The Chrysalis Fund aims to make investments to support commercial regeneration activities in the Liverpool City Region, focusing on schemes that demonstrate economic benefit and job creation. The investment in Exhibition Centre Liverpool has given a boost to this exciting large scale development which will offer huge benefits to the Liverpool City Region.
Speaking about the investment, Jim Gill, chairman of the Chrysalis Fund said: “This deal is an important milestone for the fund and represents our commitment to invest in high quality urban regeneration schemes in the Liverpool City Region. It is fantastic that the loan will be used towards such an important scheme for the city which will bring about job creation and economic benefits – the two main drivers behind the Chrysalis Fund itself.”
Working with Chrysalis
Bob Prattey, chief executive of ACC Liverpool, said: “The loan from the Chrysalis Fund was very important to the project and will make a real difference to the exhibition centre element of our exciting plans. This is a fantastic opportunity to promote Liverpool as a world-class destination for international and national events while creating long lasting economic benefits for the city and the wider region.”