Chrysalis Fund investments secure more than 3,000 regional jobs 

Written by Chrysalis on . Posted in News

More than 3,000 jobs have been created or safeguarded in the Liverpool city region as a result of investments made by the Chrysalis Fund.

The fund was launched in March 2012 to kick start regeneration across the region and has so far invested more than £34m into seven commercial development projects, with several further investments already in the pipeline.

High profile projects to have benefitted from the fund include Liverpool’s new Life Sciences Accelerator, which received an £11.5m investment, and the city’s Exhibition Centre, which opened a year ago following an £8m loan from the Chrysalis Fund.

The original fund is now fully committed and figures revealed by the Igloo Consortium, which manages the Chrysalis Fund, show that its investments to date have led to the protection or creation of 3,076 jobs.
The fund is now aiming to reinvest up to £12m worth of proceeds returned from its earlier investments and is actively seeking new, innovative projects to support, while a number of proposals are already under consideration.

The Igloo Consortium comprises Igloo Regeneration Limited, Bilfinger GVA and RBC Capital Markets and operates in partnership with Liverpool City Region LEP and local authorities.
Mark Bousfield, investment manager at Igloo Regeneration, said: “Since its inception, the Chrysalis Fund has had a tangible, positive impact on the lives of people who live and work in the Liverpool city region.

“This is clearly evident in the employment figures, where the fund’s work has led to thousands of jobs being secured, enhanced or created, and we should be very proud of that record.
“However, this is just the beginning, and we are already working hard to use our success to date as a platform to find and support new, pioneering investment projects and help to deliver long term prosperity across the region.”

David Sayer, director at Bilfinger GVA, added: “Against a developing backdrop of uncertainty caused by Brexit and other global economic forces, the Chrysalis Fund continues to create meaningful change across the region.
“By supporting the ambitions of businesses and helping to develop new places of work, the fund is creating jobs and helping to boost economic confidence, and there’s much more to come.
“We would ask anyone with a potential development opportunity to come and speak to us about how we may be able to help.  The funding is in place and we are looking forward to finding our next development partners.”

The Chrysalis Fund is backed by the European Investment Bank, the Homes and Communities Agency and the European Regional Development Fund under the JESSICA (Joint European Support for Sustainable Investment in City Areas) programme.