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Economy

With over 109,000 companies generating 5% of England's total economic output of £60.5 billion, the Leeds City Region is an emerging global economic powerhouse. In fact the Leeds City Region economy alone is bigger than nine European countries.

As the UK's largest city region outside our nation's capital, we offer an independently successful economic centre that's unique in its own right. Especially in core growth sectors like our £13 billion Financial and Professional Services and £7 billion Manufacturing sectors.

Robust and resilient

In the Leeds City Region we count on strength in numbers and diversity. Because our economic growth is spread over a broad spectrum of companies with niche strengths in our core growth sectors, we present more opportunities for rapid, sustained growth and genuine competitive edge in business.

That’s why the Leeds City Region economy grew by 40% in the last decade despite global recession. Employment also rose by 11,000 since 2011, and since 2012 developments like Leeds’ £350 million Trinity shopping centre and Bradford’s award-winning City Park have opened in defiance of unfavourable global economic conditions.

Figures like these prove that the Leeds City Region presents a dynamic yet secure opportunity for national and international businesses investment.

 

An engine of growth in the north

In partnership with Liverpool, Manchester, Newcastle and Sheffield, the Leeds City Region is at the heart of transforming connectivity and unleashing the economic potential of the North. Long-term investment projects like national high-speed rail links HS2 and the northern hub mean faster and more reliable journeys in the future, across a combined economic area of 15 million people.

"Our expectation is that the North’s economy will become more productive, more competitive and more efficient as it competes in global markets, playing to its strengths, helped by the economies of scale that come from a balanced, transformed interconnected network."

One North Report - ‘A proposition for an Interconnected North’

Better connectivity will also bring a £7.8 billion boost to the Leeds City Region economy, with countless new opportunities for businesses in support infrastructure and employment projects.

The largest growth deal in the UK

In July 2014, UK government announced its historic £1bn Local Growth Deal to create tens of thousands of new jobs and accelerate economic growth across the entire city region. Over six years, the Leeds City Region will receive £573 million (the largest allocation to any region) to expand training, housing and infrastructure for continued economic development, plus an extra £420 million over 20 years to deliver the West Yorkshire Plus Transport Fund for rail and road improvements. Our specific centres of excellence benefit too, for example York's biotech sector will get a national agri-food campus that will create 800 new jobs.

"Growth Deals are a crucial part of our long-term plan to secure Britain’s future. For too long our economy has been too London-focused and too centralised. Growth Deals will help change all that. They are about firing up our great towns and cities, boosting local economies and driving growth across the country. This historic deal means real change with exciting plans for Leeds and the  city region that include investment in rail and roads - reducing congestion, easing commutes and connecting businesses."

 RT Hon David Cameron, UK Prime Minister

How Leeds City Region Enterprise Partnership can help you

At Leeds City Region Enterprise Partnership we have access to the hard economic statistics and compelling case studies that you need to influence stakeholders. Our dedicated team of industry experts offer practical help with your proposal, and present compelling reasons to senior decision-makers about why you should choose to locate in the Leeds City Region. 

Contact us for more information about opportunities within the Leeds City Region economy.