Industry and Economy in Leeds

Leeds has a diverse economy with the service sector now dominating over the city’s manufacturing industries. It has in the past been served well by its canal, and today by its rail network at Leeds station, from where MetroTrains operate to all parts of West Yorkshire and other operators to the rest of the country. Leeds Station is the busiest in the UK, outside London. With the A1(M), M1 and M62 intersecting at Leeds, it is the principal northern hub of the motorway network. Leeds Bradford International Airport is located to the north-west of the city and has scheduled flights to destinations within the U.K and Europe, although competition from the newly opened Robin Hood Airport Doncaster Sheffield nearby may lead to a reduction in the airport’s traffic. The city had plans for a tram network, but a lack of government funding makes this impossible.

These good transport links have been a major factor contributing to the growth of Leeds, and have led to the city becoming a major centre for distribution. Retail is another major service and employer in the city centre, with a retail economy which has experienced a recent boom resulting in several new shops. Briggate is one of Leeds’ main shopping streets, with the Victoria Quarter and Harvey Nichols. The city centre also includes Europe’s largest indoor market, and over 8 shopping centres. The Eastgate/Harewood Quarter and Trinity Qtr. will re-establish Leeds as one of Europe’s top shopping centres.

Although, like the rest of the North of England, Leeds had its fair share of tough economic times during the 1970s and 1980s, it bounced back quickly by investing heavily in communications links in advance of the Internet. This helped it (along with Birmingham and Glasgow) become one of the major hubs for call-centres in the late 20th century, particularly for service-oriented companies. Many outlying towns formerly relying on mining and heavy industry, found financial salvation in the ‘reliable’ sounding Yorkshire accent. However, many of these large employers are now outsourcing many of these jobs to places like Bangalore in India, where staff costs are considerably lower.

Leeds has one of the UK’s strongest economies, with unemployment at a record low in Leeds and with the largest media, financial and legal sectors outside London.

Development

In recent times Leeds has seen hundreds of new developments. Some large schemes include:
Holbeck Urban Village regeneration
Clarence Dock (Completion 2007)
Quarry Hill Cultural Quarter
Leeds Metropolitan University Rebuilding & Partial Relocation
Millennium Square
Leeds Station modernization
Leeds Arena
St. James’ University Hospital Oncology wing (Jimmy’s)
Harewood/Eastgate shopping quarters (commence Late 2006/Early 2007)
Trinity Shopping Quarter (commence 2006)
South Leeds Sport Centre
Leeds Bradford International Airport expansion
High rise schemes are making a much bigger mark on Leeds’ skyline however, with 16 skyscrapers under construction or proposed, that are taller than West Riding House; Leeds’ tallest building. The UK’s tallest building outside of London, Venture Tower, is also proposed in Leeds.
Bridgewater Place (Bridgewater Place Website) (construction)
The Plaza (construction)
Venture Tower 1 & 2 (advanced planning)
Criterion Place 1 & 2 (advanced planning)
The Gateway (construction)
Mayfair (advanced planning)
Kite Tower
Leeds University
Wade Lane Apartments
Green Bank (advanced planning)
Clarence House (construction)
Sweet Street (advanced planning)
Marshall Street (planning)
Monkbridge Forge (planning)
West Central