The case for Leeds
Leeds, a city and metropolitan borough in West Yorkshire, England. In 2001 Leeds’s main urban subdivision had a population of 443,247, while the entire city had a population of 793,139 (2019 est.) making it the third largest in the country. Leeds is the cultural, financial and commercial heart of the West Yorkshire Urban Area, which at the 2019 census had a population of 1.9 million. In 2007, Leeds was reported to be the UK’s largest centre for business, legal, and financial services outside London. The Bank of England has its only offices outside London in Leeds.
The contemporary economy of Leeds has been shaped by Leeds City Council having the vision of building a ‘24-hour European city’ and a ‘capital of the north’. It has developed from the decay of the post-industrial era to become a telephone banking centre, connected to the electronic infrastructure of the modern global economy.There has been growth in the corporate and legal sectors and increased local affluence has led to an expanding retail sector, including the luxury goods market. Leeds was voted ‘Britain’s Best City for Business’ by OMIS Research in 2003 but dropped to 3rd place behind Manchester and Glasgow in 2005 (“Relative under-performance over the past two years in transport improvements and cost competitiveness were the major contributing factors”). It is also regarded by some as one of the fastest growing cities in the UK.
Over 124,000 people work in financial and business services in Leeds, the largest number of any UK city outside London. The strength of the economy is also indicated by the low unemployment rate. Although Leeds’s economy has boomed in recent years, the prosperity has not spread to all parts of the city.
Leeds has an extensive and diverse range of shops and department stores, and has been described by the Lonely Planet guides as the ‘Knightsbridge of the North’. The diverse range of shopping facilities, from individual one-off boutiques to large department stores such as Harvey Nichols and Louis Vuitton outlets, has greatly expanded the Leeds retail base.
In terms of culture, Leeds is the only English city outside London with its own repertory theatre, opera house and ballet companies. The West Yorkshire Playhouse also stages more productions each year than any other theatre outside London.
