Economy
The North West is historically linked with the textiles industry, mainly before the mid 20th century. The Greater Manchester region produces the most economic output according to GVA in 2007 with £46,189m. Followed by Lancashire with £22,470m, Cheshire £21,317m and Merseyside £19,112m and Cumbria with £7,379m.
According to research by Cushman and Wakefield in 2008, Manchester is the second best city to locate a business in the UK whilst Liverpool is the eleventh best city. The Financial Times stated that the North West economy, led by the redevelopment of Manchester and Liverpool, is a genuine rival to 'overheated London'.
The area's electricity, formerly looked after by MANWEB and NORWEB, is now looked after by ScottishPower Energy Networks and United Utilities respectively. The Morecambe Bay gas field provides 6% of the UK's natural gas.
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Famous quotes containing the word economy:
“Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kindno matter how ultimately profitable or otherwise successful some of them might prove to bethere is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.”
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