There’s no doubt about it, Leeds is a magnet for businesses of all shapes and sizes.
We already know it has the best people, the best nightlife and the best vibe, but there’s more to Leeds than that. It’s also a real hub for business, competing with our capital and knocking spots off other cities too. Here are a few reasons why…
Location, location, location
Whatever your choice of transport, Leeds is brilliantly connected. And once you tap into Leeds, you tap into the brilliant county of Yorkshire as well. Leeds Bradford Airport can whisk you to Paris, Berlin, Milan and more. Even better, it’s on target to increase flights from 4 to 7 million per year by 2030 – with a vastly improved terminal and long-haul routes on the way to boot. There are also plans to build an ‘airport parkway’ rail station to further boost connectivity.
The newly revamped Leeds Train Station links Leeds with London in a tad over two hours, Manchester in an hour and you can get all the way to Edinburgh in three. Despite the ongoing works, it’s the busiest station in the UK outside of London or Birmingham, with almost 24 million journeys taken in 2022/23.
On the roads, Leeds can boast the M1, A1 and M62 linking it to those same major cities above, while the cargo port of Hull is in easy reach, opening up a key manufacturing pipeline. And let’s not forget the ever-growing cycle infrastructure spreading across the region, along with rentable e-bikes courtesy of the Beryl Bikes scheme.
The talent pool is making a splash
Leeds has six universities, the region as a whole has twelve – this means the talent pool is strictly deep end. The University of Leeds is the best known and most renowned, rising to a new high of 75th in the QS world rankings in 2024.
There’s also Leeds Beckett University and Leeds Trinity, Leeds Arts University, Leeds College of Building and Leeds Conservatoire, meaning the talent tap is always on, creating a non-stop flow of talented new graduates.
What is being studied matters too, feeding the needs of Leeds businesses. Only London can lay claim to more people studying STEM topics (Science, Tech, Engineering, Maths) than the Leeds City Region.
And those graduates stick around. A Whatuni study found that Leeds retains some 39% of its graduates, the 5th-highest rate in the country. Clearly they already know what the rest of the country is now realising.
It’s growing… with more to come

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The population of Leeds grew from 760,000 to 846,000 from 2013 to 2023 and it’s forecast to keep swelling. That makes it the third biggest city in the UK, as well as the third largest economic centre with a GVA (Gross Value Added) of £26.2 billion when last measured in 2018.
The growth is mapped across to the city’s business sectors too. While 2023 saw the digital sector across the UK shrink by 0.6 percent, Leeds bucked the trend with a stellar 9.9% increase.
The private sector fares very well too – only London and Manchester can compete when it comes to the lack of reliance on public-sector jobs. The city’s economy has grown 32% over the last decade, and Oxford Economics have forecast a 7% GVA growth from 2023 to 2028, above the national average.
Venture capital investment is helping to spur that growth, with an increase of 88% in the tech and scale-ups sector from 2021 to 2022. From SaaS to energy storage, agencies to software developments, money keeps flooding in.
It has a strong entrepreneurial culture
There’s more to this stunning growth trajectory than just our friendly nature and heartbreakingly gorgeous countryside because our city embraces start-ups and entrepreneurs with open arms.
What was once the LEP has become West Yorkshire Business and Skills, bolstering businesses in the region in terms of finance, support and by helping further develop the city’s infrastructure and workforce.
It’s easy to tap into a hugely supportive ecosystem that raises everyone up. From tech meet-ups to networking events, festivals to groups promoting the enterprise scene in new and innovative ways.
There are collaborative and affordable spaces across the city too, the likes of Platform developed with start-ups and independent businesses in mind. Places where you can put down roots as a company but also cross-pollinate with others in your own and related sectors.
The tech sector is flying high
Leeds and tech are synonymous. The city plays host to just under 6,000 tech-related businesses, while the wider region adds a few more thousand to that mix. And these range from the small and plucky to the high and mighty.
You’ll find Sky Betting and Gaming in Leeds, accompanied by Rockstar Games, with new arrivals on a weekly basis. Amazon and Microsoft are both headed here very soon. Channel 4 already have their feet firmly under the table.
Some of the fastest growth areas have been software development (with an annual rate over 20%), fintech, cyber and the agency market, with high-profile businesses helping to create the ecosystem that smaller players are thriving in.
It’s a sector that is contributing enormously to the area’s economy and development, estimated at being worth £6.5 billion annually. Over 50,000 people hold jobs in this exciting area, doing everything from data encryption to quantum communications.
Health, manufacturing, finance and legal are soaring too

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While the booming tech industry gets many of the headlines, it’s far from being the only show in town. The city has a long, rich history in finance, and the Bank of England have based their northern hub here, recently announcing plans to grow their headcount sevenfold in Leeds.
Hundreds of thousands are employed across legal and finance services, with household names such as first direct, Aviva, Direct Line, KPMG, Eversheds and iwoca all having big bases in Leeds. Outside of London, there’s no larger professional and financial services centre in the UK.
Manufacturing has long been been a key component in the city’s success, and fixtures such as Arla Foods and Airedale have been joined by many more arrivals in the advanced manufacturing area. Manufacturing R&D has seen huge growth in Leeds, enjoying synergies with related sectors such as tech.
Another boom area – healthcare, medtech and life sciences – has been truly transformed in the Leeds City Region. Public Health England, NHS England, the list goes on. In fact, over a fifth of UK digital health tech jobs can be found here, while Leeds Innovation Village promises 4,000 new jobs and to be the catalyst for £13 billion of economic activity.
There’s value for money office space galore

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The businesses of Leeds need office space – and Leeds has been delivering. According to the Leeds Crane Survey, 2023 saw a sixfold increase in the square footage of office space delivered – 698,996 square foot in total, as compared to 2022’s 97,202 square foot.
Like many cities, Leeds has seen demand outstrip supply in some areas, leading to an increase in costs, but it’s still a relative bargain compared to many of its competing cities. Looking at the 4th quarter of 2023, Statista found that office space in Leeds cost a mere £36 per square foot per year.
How does that compare to London? Well, London City rents were more than double that, while West End square footage ran at an eye-watering £137.50 per square foot. Both Manchester (£40) and Birmingham (£41) were more expensive than Leeds as well. That means businesses can make a huge cost saving by opening an office in Leeds, freeing up money to invest in growth, recruitment, research and more.
With lots of new development targeted in key growth areas such as the South Bank, expect more businesses to choose Leeds as their base. When they do, they can take their pick of world-class developments such as Wellington Place, winner of Property Week’s Placemaking Award, among other accolades.
You can tap into investment and funding pipelines

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While the investment picture in terms of venture capital is always in fluctuation, one thing’s for certain, there is major investment in Leeds on an ongoing basis. According to Leeds City Council, £7.3 billion of development is either in the pipeline or already under construction.
There’s also great financial support available for businesses relocating or expanding in Leeds, especially when it comes to the Leeds City Region Enterprise Zone. It’s a zone that has already attracted Amazon, John Lewis and more, with benefits including recruitment and business support, a simplified planning procedure and grants ranging from £10,000 up to £250,000 for small and medium-sized businesses.
Another big source of help for businesses in the area is the Business Support Service, which has delivered £66 million in assistance since 2015, in addition to making available growth managers who can help with planning, recruiting and accessing grant support.
Elsewhere, there’s the Manufacturing Growth Programme, which has grants for consultancy and capital expenditure for manufacturers, and Ad:venture for start-ups, funded by the West Yorkshire Combined Authority. With numerous groups and organisations on hand to offer advice and support too, you’re not on your own.
The quality of life in Leeds? Lush

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Just a quick glance at Leeds-List will tell you all you need to know about the glut of things to do, places to explore and the incredible food and drink scene in the city. While there’s plenty of gravy for employers, there’s also plenty of good news for employees here too – the lifestyle is incredible.
The average monthly rent in Leeds now stands at £1,107, but it’s just £889 for Yorkshire and Humberside as a whole. London? A whopping £2,124 as of April 2024. And Manchester is more expensive for renters too, with an average monthly cost of £1,241. The difference is even starker if you want to put down roots here.
The average selling price of a semi-detached house in London in 2023 was £769,423, in Leeds that figure is just £264,740, a difference of over £500,000 for the same type of property. In Leeds, you get way more for your money. But you’re going to earn a lot less in Leeds, right?
Not enough for it to make dent in the savings. Adzuna cited Leeds as the city offering the best-paid jobs outside London in 2023, with an average annual salary of £37,823. Outside of the capital’s square mile, London averages varied from £38-45k. Leeds isn’t just a brilliant place to base a business, your employees will thank you too.
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