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Multibillion Economic Vision for Leeds to Create 100,000 Jobs

Monday, 27 October 2025 at 13:26

Leeds has unveiled a £20 billion economic plan aiming to create 100,000 new jobs and boost key sectors including finance, tech, and health.

Leeds City Council today unveiled its comprehensive 10-year economic vision and delivery plan which sets out bold ambitions for the city’s future. The document outlines a target of £20 billion in economic growth and 100,000 new jobs for Leeds across the decade. Leeds City Council News

The vision builds on both the national National Industrial Strategy and the regional West Yorkshire Combined Authority’s Growth Plan, aligning with the city’s existing strategy, Leeds Ambitions.

Key sectors for growth have been identified:

  • Financial & Professional Services (FPS): Accounting for 40 % of the city’s Gross Value Added (GVA), the goal is to double this sector’s growth and create 50,000 new jobs. Leeds’ position as home to the Bank of England and the Financial Conduct Authority supports its ambition to become a northern hub for FinTech. 

  • Digital & Tech: With over 3,000 digital and data firms already in Leeds and 12,000 jobs added between 2015-2022, the plan seeks to build on existing momentum including investments like Microsoft’s hyperscale data-centre in the region.

  • Health & HealthTech: Recognising Leeds’ international healthcare innovation strengths, the plan emphasises growth in health technology and aligns with the region’s investment zone scheme.

In addition to these anchor industries, the vision also emphasises the importance of sectors like construction and advanced manufacturing. 

The development pipeline that underpins this plan is ambitious. Notable projects include:

  • A £160 million expansion of the Royal Armouries Museum

  • The regeneration and expansion of the stadium at Elland Road which has potential to unlock billions in further investment

  • The mixed-use development at Aire Park, featuring the UK’s largest new city-centre park and supported by over £40 million of infrastructure investment.

Improving connectivity is also a pillar of the plan, with collaboration underway with the West Yorkshire Combined Authority to advance mass-transit plans and strengthen transport infrastructure.

Councillor Jonathan Pryor, deputy leader of Leeds City Council and executive board member for economy, transport and sustainable development, remarked:

“Building on two decades of clear momentum … the launch of our Economic Vision and Delivery Plan gives us the roadmap for accelerating success and delivering measurable outcomes for our communities and therefore achieving our Leeds Ambitions.” 
He pointed out that despite challenging economic circumstances, Leeds was the only area in West Yorkshire to see significant growth in 2023 — a 2.2 % rise in GVA — and employment growth of 14 % since 2015. 

The council emphasises that the growth they seek will be inclusive — closing the city’s productivity gap alone could add £3 billion per year to the UK economy.

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