ITS INWARD INVESTMENT, STUPID!

How much does your company spend on marketing? Most of us allocate around 10% of our budgets on PR, marketing, and maybe an additional amount on sales, depending on what industry sector you are in.

Given that between them the six Local Authorities in the Liverpool City Region are in control of multi million pound ‘businesses’, it would be a fair assumption that they have a similar approach to marketing the locality to the national and international markets. So, it may come as a surprise to you that, in fact, each council pays the princely sum of £46,000 per annum to The Mersey Partnership to undertake activity that will attract inward investment to Merseyside.

If that sounds like a pitiful amount to you, then you would be right, particularly when you consider that the Greater Manchester authorities contribute £140,000 each per annum to their inward investment agency MIDAS.

And, there is more bad news. Whilst the Manchester councils commit to three-year subscriptions, the Mersey authorities review there spend on an annual basis, making long term planning a near impossible task.

2008 will give us the best opportunity we have ever had to put ourselves in the international shop window. Surely, now is the time for TMP to receive realistic financial support to market our city region effectively?

We are regenerating our city centre with fabulous new commercial offices, a wonderful retail offering and luxury living and leisure facilities. It is plain daft to expect Lorraine Rogers and her team to spread the word far and wide with, quite literally, two arms tied behind her back.

With an exciting list of activities and events now unveiled for 08, it is time for our civic leaders to turn their attention to this important issue – and give the inward investment agenda the priority it deserves.