Two of Yorkshire’s economic powerhouses have joined forces in a unique project to build on the objectives of the Northern Way strategy to boost the economies in the north of England.
Leeds and Bradford, the two largest economic and population centres in West Yorkshire, have created a new partnership to focus on developing the nine-mile area connecting the two city centres, known as the Leeds Bradford Corridor.
After two years of planning, the initiative - which aims to increase the two cities attractiveness to inward investment - is now set to come to fruition with both cities formally committing to the Leeds Bradford Corridor Partnership today at MIPIM.
A three year funding programme has already been agreed with £20m investment secured to fund housing development. By the end of this year it is envisaged that an investment plan showing the size and scale of the Corridor’s projects will be in place.
The long term aims of the partnership are to:
• Create 7,500 homes over the next 20 years
• Provide refurbished housing along the Corridor for which funding has already been secured
• Develop employment sites on motorway locations, with a potential of securing 3,000 new jobs
• Improve the business growth through the encouragement of business start ups
• Continue with investment in public transport through the introduction of new and improved rail and bus services.
The project will revitalise neighbourhoods, provide employment opportunities, improve the environment and enhance transport links. This regeneration has no boundaries between local authorities. It will connect residents to the growing economies in both cities.
Jean Dent, director of city development, Leeds City Council said: "Leeds is a major employment provider for the surrounding city region and over 100,000 people commute to work in the city every day. The Leeds Bradford Corridor is central to the long term sustainable development of the two cities. It is essential that we work closely with Bradford on this project and with our other partners in the wider city region to address the skills, housing and transportation issues to facilitate development and economic growth."
Together, the two cities combined economic strength includes a growing population of 1.3 million and a shared economy of over £23 billion per annum. Leeds is the UK's largest financial and business services centres outside London. Bradford has a growing youthful workforce and is the fastest-growing metropolitan district outside of London.
Councillor Adrian Naylor, Executive Member for Regeneration and Economy at Bradford Metropolitan District Council, said: “This is the first joint project with committed resources. It demonstrates the two cities working together in a constructive way.
“Both cities have a number of requirements. This includes the need to better connect economic opportunities with a growing potential workforce, the provision of new homes at affordable prices, and the challenge of addressing transport bottlenecks, while safeguarding and improving the local environment. All of these are issues that the two cities cannot address independently.
“This partnership reflects the increasing interdependence of each city’s economy and the complementary offers Leeds and Bradford present to investors.”