Inward Investment Pack
Detailed information on the Leeds economy covering everything from financial services to the media, workforce and skills also providing an overview of the Leeds lifestyle including education, leisure and healthcare.
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FAQs
1. What is the recent economic history of the area?
Leeds has emerged as the major centre for financial and professional services in the north. It has one of the fastest expanding and most diverse economies in the UK. Over the past 20 years, more jobs have been created in Leeds than any major city outside London. More than 100,000 people - around 20% of the workforce - are employed in financial and business related services and over 30 national and international banks are based in the city.
Leeds is the largest legal centre outside the capital and a major centre for accountancy, banking, insurance, building society finance, corporate and retail financial services. The city has been transformed by massive investment in commercial property development. In the last ten years, £2.3 billion worth of major development schemes have been completed and another £3.3 billion worth of schemes are in the pipeline or already under construction.
2. What specialist work skills does Leeds have to offer?
With two universities and eight colleges of further education, companies have access to a well qualified and trained workforce. The University of Leeds is the number one student destination in the UK, receiving 52,521 applications for the current academic year. It is at the forefront of knowledge transfer and research partnerships with business, and a member of the White Rose Consortium of universities, which has a combined research power greater than Oxford and Cambridge.
Leeds Metropolitan University is home to the largest business school of its kind in the UK. It is also the lead partner for West Yorkshire New Technology Institute, providing specialist and bespoke training courses to meet the ICT needs of business. Leeds is the biggest centre for construction and allied trades. There is a strong medical technology sector and Leeds Teaching Hospitals NHS Trust is one of the largest in Europe.
3. What type of industries does Leeds currently support?
First Direct, the UK's first telephone banking service, is based in Leeds. A total of 22,000 people are now employed in 19 call centres within the city. In addition to financial and business services, Leeds is one of the largest centres in the UK for manufacturing. Key sub-sectors include engineering, paper manufacture, printing and publishing, chemicals, and food and drink. Media and communications is another fast growing sector, showing 20% year on year growth over the last couple of years. Key players in new media and the online economy such as Orange Multimedia, O2 and Energis are all based in Leeds, and 99% of telephone exchanges are now broadband enabled. It means that companies looking to trade online can source everything they need - infrastructure, technology, legal and creative expertise - in a single location.
4. What is the state of the services sector?
The service sector accounts for 80% of total employment in Leeds. Alongside financial and business services, major employers include the retail, distribution, tourism and leisure sectors. Leeds city centre is the main retail centre for the surrounding region, with a catchment area of 3.2 million people. Over 1000 shops in the city centre employ 14,000 people, while a total of 41,000 people are employed in the retail sector as a whole. The annual survey carried out by Experian Goad names Leeds as one of the UK's top retail destinations.
Alongside the expansion in retail, there has been a dramatic increase in the number of bars, restaurants, cafes, nightclubs and hotels. Tourism is big business in Leeds, bringing nearly £735m into the local economy, attracting 1.4 million trips involving an overnight stay and 18.4 million day trips. This supports nearly 20,000 full-time equivalent jobs.
5. What is the transport infrastructure like and are there any plans to improve this?
Leeds enjoys excellent links with the rest of the UK. Located at the intersection of the motorway network, the city has direct road links with London and Edinburgh via the M1 and A1, while the M62 connects Leeds to the west and east coast ports of Liverpool and Hull. Planned improvements to the transport infrastructure include the East Leeds link road, which will form an express way leading from the M1 through the Aire Valley Leeds - a major regeneration area - and into the city centre. London is two hours away by rail, with services running to and from Kings Cross every half hour. In addition to regular daily flights to Gatwick and Heathrow, the major European business and holiday destinations are served by direct flights from Leeds Bradford International Airport.
Leeds has emerged as the major centre for financial and professional services in the north. It has one of the fastest expanding and most diverse economies in the UK. Over the past 20 years, more jobs have been created in Leeds than any major city outside London. More than 100,000 people - around 20% of the workforce - are employed in financial and business related services and over 30 national and international banks are based in the city.
Leeds is the largest legal centre outside the capital and a major centre for accountancy, banking, insurance, building society finance, corporate and retail financial services. The city has been transformed by massive investment in commercial property development. In the last ten years, £2.3 billion worth of major development schemes have been completed and another £3.3 billion worth of schemes are in the pipeline or already under construction.
2. What specialist work skills does Leeds have to offer?
With two universities and eight colleges of further education, companies have access to a well qualified and trained workforce. The University of Leeds is the number one student destination in the UK, receiving 52,521 applications for the current academic year. It is at the forefront of knowledge transfer and research partnerships with business, and a member of the White Rose Consortium of universities, which has a combined research power greater than Oxford and Cambridge.
Leeds Metropolitan University is home to the largest business school of its kind in the UK. It is also the lead partner for West Yorkshire New Technology Institute, providing specialist and bespoke training courses to meet the ICT needs of business. Leeds is the biggest centre for construction and allied trades. There is a strong medical technology sector and Leeds Teaching Hospitals NHS Trust is one of the largest in Europe.
3. What type of industries does Leeds currently support?
First Direct, the UK's first telephone banking service, is based in Leeds. A total of 22,000 people are now employed in 19 call centres within the city. In addition to financial and business services, Leeds is one of the largest centres in the UK for manufacturing. Key sub-sectors include engineering, paper manufacture, printing and publishing, chemicals, and food and drink. Media and communications is another fast growing sector, showing 20% year on year growth over the last couple of years. Key players in new media and the online economy such as Orange Multimedia, O2 and Energis are all based in Leeds, and 99% of telephone exchanges are now broadband enabled. It means that companies looking to trade online can source everything they need - infrastructure, technology, legal and creative expertise - in a single location.
4. What is the state of the services sector?
The service sector accounts for 80% of total employment in Leeds. Alongside financial and business services, major employers include the retail, distribution, tourism and leisure sectors. Leeds city centre is the main retail centre for the surrounding region, with a catchment area of 3.2 million people. Over 1000 shops in the city centre employ 14,000 people, while a total of 41,000 people are employed in the retail sector as a whole. The annual survey carried out by Experian Goad names Leeds as one of the UK's top retail destinations.
Alongside the expansion in retail, there has been a dramatic increase in the number of bars, restaurants, cafes, nightclubs and hotels. Tourism is big business in Leeds, bringing nearly £735m into the local economy, attracting 1.4 million trips involving an overnight stay and 18.4 million day trips. This supports nearly 20,000 full-time equivalent jobs.
5. What is the transport infrastructure like and are there any plans to improve this?
Leeds enjoys excellent links with the rest of the UK. Located at the intersection of the motorway network, the city has direct road links with London and Edinburgh via the M1 and A1, while the M62 connects Leeds to the west and east coast ports of Liverpool and Hull. Planned improvements to the transport infrastructure include the East Leeds link road, which will form an express way leading from the M1 through the Aire Valley Leeds - a major regeneration area - and into the city centre. London is two hours away by rail, with services running to and from Kings Cross every half hour. In addition to regular daily flights to Gatwick and Heathrow, the major European business and holiday destinations are served by direct flights from Leeds Bradford International Airport.
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