Liverpool Vision is to disband its board of directors and become part of Mayor Joe Anderson's portfolio, governed by his new Mayoral Development Corporation.
Anderson said: "Liverpool Vision has established itself as a key organisation within the city over a number of years and has both an excellent track record and a strong reputation for delivery and adding considerable value to the economic development of the city.
"It is my intention to build on this deserved reputation and the momentum that has been created by integrating their expertise with my mayoral functions.
"The Mayoral Development Corporation will now provide the overall strategy and direction to promote the growth of Liverpool's economy, linking economic objectives with other Mayoral priorities notably education and housing.
"Liverpool Vision remains an important component to Liverpool's future growth and prosperity.
"I must thank all the board members, both past and present, who with their chairman, Mike Parker, have made an enormous contribution to the city, gaining the respect of other public bodies and the private sector in the reestablishment of Liverpool as a modern outward-looking international city.
"I look forward to working with each of them in the future and am grateful for their continuing support."
Liverpool Vision, led by chief executive Max Steinberg, will continue to promote business creation, growth and productivity.