The Atlantic Water Business Development - Research Proposal Example

The Atlantic Water Business Development 1.0 Terms of reference The Atlantic Gateway report is going address the following two significant changes. A description of the major changes to the industrial landscape of Merseyside since 1960’s and suggests how the city’s industrial landscape could evolve over the next 20 years. The primary users of this report are the members of the Atlantic Water project committee, and it is due on 27th February 2015 and includes recommendations. 2.0 Summary This report is about the impacts of the Atlantic Gateway project on the economic landscape of Liverpool city. The Atlantic Gateway project is a redevelopment strategy proposal that targets North-west England through Manchester and Liverpool whose budget is £50 billion and within a 50 year period (Atlanticgateway.co.uk, 2015) The report has identified primary benefits from the report findings. These advantages are significant improvements in the economies of Manchester and Liverpool, an appropriate solution to the problem of traffic congestion, assistance in the development of new sources of energy generation. The report further evaluates the changes impacted on the city of Liverpool from an economic perspective. This is through an analysis of the primary economic and industrial changes in Liverpool from 1960’s to the present (Menzies, 2014). . Furthermore, the report also projects the economic and industrial evolution within the next 20 years as a result of the effects of the various Atlantic Gateway projects implementation (Dembski, 2014). The report findings indicate previous significant economic growth in the city of Liverpool since 1960’s and expect major economic changes within the next 20 years. The economic growth would be realised in terms of high levels of employment, improved infrastructural network, increased national revenue among others (Sharples and Stonard, 2008). Finally, the report concludes by recommending the construction of the Atlantic Water project as a solution to several economic problems in Liverpool. 2.0 Procedure The data used in the evaluation process of this report was collected from 10th January 2014 to 17th February 2015 and used 13 months. The data collection process entailed the following methods: 1. Direct Observation 2. Visit to various city-wide organizations 3. An analysis of different reports from significant parties 4.Reference to academic texts 5.Reference to different websites 6. Use of questionnaires 2.1. Direct Observation Direct observations will include actual visits to historical sites and Museums among others. Historical sites include the following listed. The Liverpool waterfront, The Seaforth Dock, The Merseyside Maritime Museum, and St. George’s Hall. Other relevant places include the Mersey front, docks, Pier Head, city centre and Bird’s eye walls factory. The Museum visited includes visiting the Bird's eye walls Factory stand at the Victoria Gallery and Museum. These visits were made so as to get a feeling of all the changes. During the visits, analysis will involve a study of historical artefacts as well as available literature on the socio-economic perspectives of Liverpool from 1960’s to 2005. 2.2. Visit to various city-wide organization The visit to city organizations in search of information includes Liverpool City Council, information centre about asylum and refugees. Visit other organizations include trade unions like Unison, and national department offices to acquire data with respect to the department. The agencies include Department of work, Pension and Jobcentre. The British chamber of commerce, Confederation of Small Businesses, Confederation of British Industry, Local Government. Governmental offices include the following departments, Centre for Cities Labour, Education and Finance. During the visits, the analysis will involve collection of the relevant data to measure levels of economic growth and financial development. 2.3. An analysis of different reports from significant parties The various reports to be collected from major parties include the Liverpool city region, Cities Unlimited, The office of national statistics, The Geography of Unemployment Journal, The Local Government and The Business Survey. Other relevant literatures include articles from the newspapers, magazines and economic journals. Analysis with reference to this different reports involved analysing the data in the reports and drawing inference from its recommendations. 2.4. Reference to academic Text Academic text will also be referred to in the final analysis and drawing conclusions. Different unknown phenomena will be explained through the use of academic text. Academic text will encompass both Micro and Macroeconomics in the analysis and evaluation of any all unexplained phenomena or data. 2.5. Use of questionnaires The report will also employ the use of questionnaires in the evaluation of data. A total of 100 respondents were interviewed on their assessment of the Atlantic Gateway project and the likely impacts. The questionnaires for use will be close-ended in nature and use the Likert Scale in the evaluation of answers provided by the respondents. The privacy of the research and confidentiality of the respondents will be protected by the utilization of the figures and numbers. 3.0 FINDINGS The Organization relevant to a city’s past and development includes the following. The Department of work Pensions and Jobcentre, Federation of small businesses, and The Confederation of British Industry. Most significant organizations include the British Chamber of Commerce, the Local Government, and The National Government of the U.K. Other strategic organizations include The Mersey Partnership amongst many others. All these listed organizations have played an active role in the past and development of Liverpool through facilitation of diverse economic factors. Both the National and Local Governments were relevant to the history and development of Liverpool through legal, political regulations and policies in the economic perspective (David and Alan, 2009). Other related organizations such as the British Chamber of Commerce and Federation of small business among others were also responsible to for the past and development of Liverpool. This was through the provision of the regulation for employer-employee relationships among others. The other relevant organizations visited include, Wirral, Liverpool and Warrington councils. These three committees are responsible for the completion of the mini projects listed down under the Atlantic Gateway project (Labour-market statistics, 2011). 3.1 The Organizations and Sources The different organizations and sources used in the report include: The Local Government of Liverpool which produces the Liverpool city and Local Government reports. The Local Government of Liverpool is responsible for planning and monitoring of a town’s key development goals. Other roles include law making and enforcement of the different policies (www.gov.uk, 2015). The Liverpool city report was as report of Liverpool’s economic development for the year 2005. The Local governments Report was produced by the Association of Local Governments and compares the economic performance of different Local Governments (Wray, 2014). The British Chamber of Commerce is responsible the production of the business survey reports. The primary purposes of the Chamber of Commerce are to further the interests of the business community in the whole of Britain. Furthermore, it also lobbies for the formation and implementation of favourable trade policies. The business survey report is an analysis of the economic performance of the company and provides recommendations for increased productivity (British Chamber of Commerce, 2008). The Office of National Statistics is the United Kingdom’s largest producer of statistics. Its primary responsibility is the collection and publishing of statistics in relation to economic, demographic and society at both national and local levels (Intervistas Consulting Inc and Marinova Consulting Ltd, 2007). The National statistics office report analyses economic, population and societal growth rates and trends respectively (Association of British Chamber of Commerce, 2013). The work and pensions department are responsible for the production of ‘The Geography of the unemployed Journal’. The Department of Work and Pensions’ primary role is to safeguard welfares, pensions and child maintenance policies. The Geography of unemployment journal is a report about the levels of unemployment, poverty and social injustice (Great Britain, 2007). The Geography of the unemployed helps provides recommendations for the alleviation of the above problems. 3.2.1 A description of the of the industrial landscape and situation of the city of Liverpool during the 1960’s In the 1960’s, Liverpool’s industrial landscape had been defined by engineering, cement manufacture, sugar refining and flour milling that led an enormous economic boom. This era has been referred to as ‘The Golden Age’ and was characterised by different changes. The changes included increased level of investment in manufacturing and high levels of division of labour among others. Other changes included Population growth and dispersal and too much in migration (Liverpoolmuseums.org.uk, 2015). The primary economic activities were industrial through factory employment or self- employment. During the later parts of 1960, the economy of Liverpool diversified to other economic activities (Wilks-Heeg, 2003). 3.2.2 Description of the industrial, economic and business changes to the city of Liverpool 1970s-current From 1970’s to present, Liverpool has been typical of very many changes in industrial, economic and business changes. The period between the 1970 to 1980 was characteristic of recession and conflict (Kinder, 1999). The late 1970 to 1980 recession led to de-industrialization on a large scale as a result of the global restructuring trend as it was on the receiving end. This in turn resulted in massive job loss and an increase in the unemployment rate (Burnell, 2013). As a result of suffering and compounded misery, the population collapsed significantly as majority of the population out-migrated in search of a better life and employment (Pallis and De Langen, 2010). This was later referred to as middle-class flight. This made Liverpool no longer be considered a magnet for economic migration. The unemployment rate rose from 10.6% in 1971 up to 21.6% in the year 1991. The period from 1980 to 1990 was represented by social and political responses to the already poor economic situation in Liverpool (Thomas 1973). Liverpool set down policies that moved away from conflict to partnership that took place in three stages. The first part was typical of civil unrest through activities of active trade unions. The second part involved the state intervention in 1991. These changes required the setting down of the Merseyside Development Corporation. Other corporations included City Challenge and Single Regeneration Budget (Ayers, 2004). Furthermore, the European Union structural funds were used to help in regenerating Liverpool (Moore, 1997). The third phase involved local institutional searching. Several institutions formed included Liverpool Partnership, Mersey Partnership, Speke Garston and Liverpool Land. Other significant groups included Liverpool Capital of Culture Company amongst many more (Evans, 2002). The implemented changes developed a turning point from mid-1990 on the following: 1. Laying down new significant layers of investment 2. Dramatic remodelling of the economic landscape through strategic investment areas 3. Gradual decrease in the unemployment rates 4. Decrease in population decrease 5. Global connectivity Positives drawn from the economic renaissance include persisting problems, low skills and qualifications in workplaces. Different problems experienced include investment in low productivity sectors and difficulty in closing the gap as other cities are also being transformed. (Frost and North, 2013). 3.2 Analysis of the impact of Liverpool Waters, Atlantic Gateway, and City of Liverpool changes on the industrial and business landscape and life of the city. The primary role of the Atlantic Gateway is the maximisation of investment opportunities that is difficult in today’s global market due to high levels of competition. The competition is in terms of investment funds, financial institutions, businesses and research and science institutions (Christie, 2013). The Atlantic Gateway project is aimed at the provision of connectivity between the two cities of Manchester and Liverpool. Infrastructural support is essential to facilitate the daily business activities through mobility of people goods and information. This connectivity that would add to the already existing infrastructural network is aimed at easing of other means of transport and facilitates speed McMillan, 2006). Furthermore, the increased connectivity will increase infrastructural investments as well as provision of a more integrated network that will improve supply chains. The primary investors, in this case, are in the transport and logistics part of the business that goes along in providing employment, faster movement of people and goods. These combined two factors also continue in catalysing economic growth for the region between Manchester and Liverpool. Businesses on both Manchester and Liverpool will be able to recruit from a bigger talent pool since employees’ transportation will be convenient. Furthermore, the business will be able to gain access to wider markets since capacities would have increased and less time taken (OECD, 2014). The development of Warrington Waters provides an opportunity to connect the port with the City centre front development. This results in the raising of the waterside environment quality as well as provision of quality housing and living conditions for the nearby dwellers (Liverpool city council, 2006). On the other hand, the Atlantic Gateway has also provided solutions to the problem of the greenhouse effect through the production zero rated housing as well as green sources of energy. The green sources of energy include exploitation of natural powers in the manufacture of energy and include wind, tidal, biomass, hydroelectric among others through The Mersey Tidal/port power. The provision of cheap energy will go along in increasing economic performance by reducing production costs and an improvement in profitability from utilizing economies of scale enjoyed by firms in production. This directly affects the economic progression of Liverpool through increase in both GNP and GDP levels (Couch, 2003). As a result of employment being located in Liverpool, more migrants are expected in Liverpool hence thus a resulting increase in the demand for housing and other recreational facilities. This offers entrepreneurs a chance to invest in real estate as well other social and recreational facilities thus an increase in the value of land around Liverpool. On the other hand, an increase in the population of Liverpool offers a ready market for the industrially produced goods and services that result in economic development. On the other side, an increase in the investment levels in Liverpool means increased revenue for both national and local Government from taxation and payment of rates. The acquired Government revenue goes along in providing social amenities, as well as investing. The combined cumulative effort of Government spending improves the living standards of its residents (Fletcher, 2004). 3.2.4 Analyzation of the relative impact of the Atlantic Gateway and Liverpool Waters on the future industrial, economic and business landscape of the city of Liverpool over next 20 years The Atlantic Gateway will play a significant role in the support and rebalancing of the U.K’s economy. The Atlantic Gateway has been identified as an important factor in the attraction of Growth and delivery of across Manchester and Liverpool. The Atlantic Gateway infrastructure acts as national strategic plan that will go along in providing pertinent signals to investor markets for unlocking Liverpool’s investment potential. Investment in the area will provide employment to the citizens of Liverpool for the years to follow. The national level of unemployment is expected to reduce by 32% as a result of the different themes involved in the Atlantic Gateway project (Kidd and Fitzpatrick, 1992). Furthermore, the National and Local Governments are set to benefit from investment in the city of Liverpool from taxation that goes along in improving the Gross National Product. Taxation to both Governments will take different forms that include, property rates, value added tax and Pay as You Earn among others. The respective Governments use revenue from the taxation in investing which leads to the economic Growth of Liverpool (Canada, 2011). The Atlantic Gateway seeks to drive growth and international trade through innovation. Innovation has been identified as a catalyst for growth and productivity for the creation of successful and competitive businesses. Through the affiliation with world-class research organizations, universities and partnerships, The Atlantic Gateway can convert ideas into commercial propositions that make significant contributions to the economy. The harnessing of natural energy sources such as wind and tidal forces for the provision of energy helps in economic growth. This economic growth is facilitated through cheaper production and benefits from economies of scale hence higher profitability (Organisation for economic co-operation and development, 2012). The Atlantic Gateway is responsible for the provision of infrastructure which will lead to increased mobility of people goods and information. The support will help companies through, recruiting from a wider pool of employees. It will also contribute to making movement of goods to markets faster and easier. In addition, high volume, and more comfortable supply of raw materials will become more efficient. The above will go ahead in improving economic performance through employment, access to different markets and cheaper methods more competitive production of goods and services (OECD/ITF, 2008). Fig 1: Projected Jobs from the Atlantic Gateway (Labour market statistics, 2011). The Development of Warrington Waters, which connects the port with the city centre front development. This leads to an improvement of the waterside landscape through provision of quality housing (Harper, 2002). Fig 2: Projected Residential Units from the Atlantic Gateway (Gartner and Manfried, 2006). 4.0 Conclusion The report findings of the project from that The Atlantic Gateway and Liverpool Waters project will have significant impacts towards the development of Liverpool for a very long time to come. Research on the economic situation of Liverpool in previous years has indicated that investments were the primary sources of Liverpool’s development in the early 1970’s. As a result of global restructuring in 1970’s, the investors faded away. Furthermore, Liverpool was faced with severe economic problems (Boland, 2007). Towards late 1980’s the British Government had to intervene through investing and formation of councils to oversee the development in Liverpool. These transformations have resulted in gradual improvements in the situation in Liverpool over the years (Harper, 2002). The development of the Atlantic Gateway and Liverpool Waters project is predicted to have significant economic benefits as well long time impacts over a twenty year period. Majority of the benefits from this project have been divided based on different themes. Furthermore, the report findings project tremendous economic benefits to the city of Liverpool over a minimum period of 20 years (Quality Assurance Agency for Higher Education, 2007). 5.0 RECOMMENDATIONS This report ascertains that the City of Liverpool has made significant progress over the past fifteen years. The city has managed the unemployment and other economic problems through the creation of jobs and partnerships on a smaller scale. The report suggests the implementation of the Atlantic Gateway and Liverpool Waters as a long-term solution to several economic problems. Liverpool city had experienced urban decline from 1980’s onwards as a result as a result of deindustrialization and collapsed in the use of the Liverpool docks and harbours. This left very many citizens unemployed leading to economic decline and other severe economic problems. The Atlantic Gateway Liverpool Waters project is seen as a means of improving the industrial situation in Liverpool as well as resurrecting the use of Liverpool harbours and waterfront. Through these, employment rates will shoot up as well as attracting investors into Liverpool. The primary reason for Liverpool’s resurgence from the 1980 economic decline was the various partnerships. 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