Liverpool’s brand ‘fails’ city’s knowledge economy

Apr 15 2009 by Alex Turner, Liverpool Daily Post

A DAMNING report has concluded that Liverpool is “not credible” as a place to locate knowledge economy businesses.

The 77-page report, Creating Brand Competitiveness, argues Liverpool’s reputation is hampered by its brand being dominated by “culture, football and the Beatles”.

Its author, the outgoing chief executive of Liverpool Science Park, Dr Sarah Tasker, said the city was failing to meet its aspirations as a world-class centre for the knowledge sector, because it didn’t have enough ambition and could not persuade people from outside the region about the attractiveness of what it had to offer.

She said: “Liverpool’s corporate brand is recognised universally for its culture, its creativity, its edginess, its fun factor.

“So far, however, the link between creativity and economic potential – the innovation that enabled the fabulous accumulation of wealth upon which the city was built – has not made its way into Liverpool’s corporate-brand associations.

“Our experience is that the city’s regeneration and its cultural pull is bringing back into the city people and companies with pre-existing links.”

Dr Tasker has managed Liverpool Science Park since its inception through her consultancy firm Cam-Sci, which has advised on science parks for more than a decade, and she has studied UK developments and international trends within the knowledge economy.

Dr Tasker said that, despite the science park becoming home to more than 40 companies in the last three years, in every case the business’s decision-maker had an existing link with the city.

She said: “Liverpool’s new corporate brand is failing to persuade (businesses) that Liverpool is anything other than a visitor destination. A huge number of visitors come to Liverpool, enjoy themselves and go home.

“Against our aspiration to be world-class, it is apparent we are falling far short.

“The problem is brand penetration: the only companies being attracted are those that already believe in the brand. Companies from outside the region don’t believe in the offer.”

A separate report published last year, by consultants Regeneris, estimated the four main institutions in the Knowledge Quarter – the University of Liverpool, Liverpool John Moores University, the Royal Liverpool University Hospital and the Liverpool School of Tropical Medicine – were worth £1bn to the city’s economy and supported 14,000 full-time jobs.

Mark Basnett, director of investment at The Mersey Partnership, believes the size and value of the knowledge economy demonstrates its success.

He said: “The strength of the knowledge economy is one of Liverpool city region’s key assets.

“It is estimated that there are 313,000 employed in the knowledge economy of Merseyside – or 53% of all those in employment, ahead of the national average of 49%.

“This represents a 6.4% growth over 10 years in a sector that generates £1.6bn for the wider North West economy.

“These figures speak for themselves – Liverpool is attracting knowledge economy businesses. The opportunity we must exploit is to grow the sector still further.

“If we are to succeed in achieving that, our resources must be targeted very effectively – especially as this is such a competitive market for inward investment.”

Dr Tasker is also positive and insists that, if Liverpool can successfully incorporate the values that knowledge sector businesses are looking for, it is well placed to take advantage. She said: “The strongest sectors in the city are those that offer specialist knowledge in the areas in which they excel.This includes maritime and professional service sectors, engineering, games, biotechnology, creative, sports science, lasers and software amongst others.

“The good news for Liverpool is that, although it might not be a knowledge brand, it is, in fact, a knowledge city.”