The bid by Liverpool City Region to be allowed to set up a Local Enterprise Partnership is now with the government.
As we reported today, the distinguished group of business leaders whose names have been put forward to sit on the LEP includes Sir Terry Leahy.
There has been no announcement yet as to who would chair the LEP, but we do know that the government has stipulated that the successful boards should be led by a high profile representative of the local business community.
It's hard to imagine a candidate who better fits that profile than Sir Terry, and given his pending retirement from the Tesco empire he built, the timing could be propitious.
All this assumes, of course, that he would be prepared to take on such a commitment, but personally, I really hope he gets the nod.
If the bid is successful, the new LEP will have a fraction of the government funds at its disposal that the NWDA was able to invest in the region. It will live or die on its ability to engage the private sector and make sure it extricates maximum value from every penny it can prise from the ever-tightening public purse.
That will take entrepreneurship, drive, imagination, and courage. I'm sure there are others who can bring those qualities to the table, but for my money, Sir Terry has a track record that nobody can match.
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