A total 17,000 jobs have been safeguarded or created in the northwest in the past 12 months with the support of leading development agency.

More than 20,000 regional businesses have improved their performance and about 2,000 new companies have come to the area, according to the annual general meeting of the Northwest Regional Development Agency (NWDA).

During a summary of the highlights of 07/08 at Liverpool's BT Convention Centre on Friday, the NWDA also reported £489 million of investment to the area.

Over the past 12 months 300 hectares of brownfield land had been regenerated.

Chief executive of the NWDA Steve Broomhead said: "It is vital that we build on this moving forward, whilst ensuring that the region is in a strong position to tackle the challenging global economic conditions ahead."

On Wednesday, business leaders from around the world will take to the stage of BT Convention Centre for a business summit.